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FinCore MVP: FDaaS in Agile Mode

Power Soft Agency > Development > FinCore MVP: FDaaS in Agile Mode

Project Overview:
Power Soft, through Principal Consultant Md. Monir Hossain, developed a Minimum Viable Product (MVP) for a client’s core Fraud Detection as a Service (FDaaS) API. The project focused on creating a functional API for real-time fraud risk scoring, enabling the client to validate their concept and launch an initial offering. This case study highlights Power Soft’s agile development, technical proficiency, and client-centric approach.

The Challenge:
The client needed a functional API to serve as the backbone of their new FDaaS platform. The primary requirement was an endpoint capable of receiving user data (email, IP, device ID, etc.), applying predefined fraud detection rules, and returning a real-time fraud score, risk level, and reason codes. The initial scope was a rule-based engine, with plans for future scalability.

Power Soft’s Solution & Execution:
A collaborative and iterative development process was implemented:

  1. Requirement Definition: Through detailed discussions, including a video call, our consultant worked with the client to solidify requirements. The core business logic involved an API (/score endpoint) processing user data against weighted rules (e.g., disposable email, device reuse) and returning a JSON response with a fraud_score, risk_level, and reason_codes.
  2. Technical Design & MVP Strategy:
    • The initial build focused on a FastAPI (Python) backend with hardcoded rule-based logic for rapid prototyping.
    • Security was prioritized with JWT token-based authentication and API rate limiting.
    • A key addition was a Rule Management module (UI + API with Swagger) enabling the client to dynamically manage fraud detection rules.
    • Future enhancements, such as a dynamic Rules Database (PostgreSQL) and ML-based scoring, were discussed to ensure a scalable architecture.
  3. Phased Development & Iteration:
    • A milestone-based proposal (Security Module, FDaaS Module, Rule Module, Deployment) facilitated staged delivery and client review.
    • Client feedback on feature phasing, non-functional requirements (response times, error handling), data privacy, and schema design was actively incorporated. Regular progress updates ensured transparency.
  4. Testing & Deployment:
    • The client participated in testing, with all reported issues promptly addressed.
    • Initial deployment was on the consultant’s server, with future plans for the client’s AWS infrastructure.

Key Features of the FDaaS API MVP:

  • Secure FastAPI backend with a /score endpoint.
  • JWT token-based authentication and API rate limiting.
  • Rule-based scoring engine processing user data.
  • Real-time generation of fraud_score, risk_level, and reason_codes.
  • User-friendly Rule Management module (UI + API).
  • Application deployment.

Outcome & Client Satisfaction:
The FDaaS API MVP was successfully developed and delivered through a structured, milestone-driven process.

  • The client consistently expressed high satisfaction with the progress, quality, and responsiveness (“good job,” “looks good,” “Approved the next phase”).
  • The collaborative approach ensured the solution aligned with the client’s evolving vision.
  • A strong foundation for a long-term relationship was established, with the client indicating intent for future projects.

How This Project Reflects Power Soft’s Capabilities:

This engagement showcases Power Soft’s core strengths:

  1. Agile Development: Delivering a functional product in phases while incorporating client feedback demonstrates adaptability.
  2. API Expertise: Proficiency in building secure and efficient APIs using modern frameworks like FastAPI.
  3. Client-Centric Design: Translating business logic into practical software, like the Rule Management UI.
  4. Scalability Planning: Considering future enhancements (database-driven rules, ML) even in an MVP.
  5. Effective Communication: Maintaining clear communication and actively involving the client led to success.

Conclusion:
This project demonstrates Power Soft’s ability to rapidly develop and deliver a core API MVP that meets immediate client needs while planning for future growth. By combining technical skill with a collaborative approach, Power Soft empowered a fintech innovator to launch their FDaaS platform effectively.

Ready to Enhance Your Custom Application or Need a Reliable Development Partner?

If your business relies on custom software that needs expert attention, stabilization, or new features, Power Soft is here to help. Like we did for EasymealCo, we can provide dedicated, agile, and expert development services to ensure your systems support your growth.

Contact Power Soft today for a free consultation!

Project Details
  • Catgegory: Development, IT Solution
  • Client: "Apobusiness" (Benjie) – An entrepreneur launching an FDaaS platform.
  • Project: Rapid Development of a Fraud Detection as a Service (FDaaS) API MVP
  • Technologies: FastAPI (Python), JWT, Swagger UI (implied).
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