General FAQs

Why should I choose FintechLabs?

Our software solutions are highly customizable to fit your needs. They are API-based so they can integrate easily into your existing systems. Our products are highly automated with features not present in other software systems in the market. We provide scalability, flexibility and agility and our software is mature and tested, being used by companies around the world. Our solutions are cost efficient as compared to others because of the building process optimizations we have done. The biggest reason is TIME, save your time and choose us

Can the software be hosted on my local servers?

Yes. Although we are really good with cloud servers as they are more agile, we can host on your local servers as well.

I have a new idea, Can Fintechlabs help me?

We love Innovation, we constantly try to do something new. We would love to hear your idea and explore how we can help. Write to us at FTL@Perfios.com

Where is development centre and the support team located?

We have our development centre in Noida, India. Our support team is based in Noida, Mumbai and Bangalore. We are able to provide good tech support to customers across the globe using online project management tools.

What kind of loan products do your products support?

Our solutions support all kinds of loan products from auto loan to personal loan, home loans, commercial loans, real-estate financing, loans against collateral or invoice financing.

How old is FinTechLabs?

We have been in business since Sep 2013 but we rebranded ourselves to FinTechLabs in Dec 2015 and got acquired by Perfios in Aug 2019

Is FinTechLabs a registered company?

FinTechLabs is a brand owned by Perfios Software Solutions Pvt Ltd

Software-Related Questions

What language is the platform written in?

We are using MVC based architecture build over Java Ecosystem. Frontend is built over jQuery & Twitter Bootstrap. Some of the things are REST based as well.

What are the main frameworks used?

The application is built on Grails 3, which is a framework based over Spring Boot & Groovy. Database layer is built over Hibernate and we are using lots of Java Libraries for various functionalities.

What external licenses, if any, are required in order to operate the software?

Everything is built over open source technologies such as Grails, Hibernate, Mysql, Twitter Bootstrap, jQuery etc so you will not need any license for anything in the core software.

What is the storage technology?

We are using Mysql for data storage.

What is the approach to testing?

We are suing Spock for unit testing, a groovy wrapper over Junit. Integrations test are also written in Spock. For UI/Functional testing we are using Geb framework.

Has coverage of testing been established?

More than 80% of the code is controlled under test cases. Adding more and more test cases for every new feature we build.

What is the design approach to the software?

The business logic is in Spring Service layer. Controllers are for handling the requests and serve the response. For utility functions we are using groovy classes.

What build process is used?

We have automated build scripts which handle everything related to data & system backup before building and deploying the code to the server. We just have to initiate one script and it handles everything. Also, we are using Jenkins as our continuous integration environment and running of test cases. Soon we are planning to migrate everything to Docker.

What scalability testing has been performed?

We use JMeter and Selenium for scability testing.

What throughput testing has been performed?

We are using  Apache JMeter for the same

How do you take care of Business continuity and disaster recovery

The Application’s database and system backup are performed and carried out at least once in every 1 hour. The database is stored on Amazon AWS cloud based server systems to provide high levels of reliability required by financial institutions and hubs to meet and/or exceed regulatory requirements. In addition, the Amazon AWS cloud based server systems are configured to provide efficient backup and recovery processes. In the event of any Application failure and/or malfunction, the Vendor’s system service level recovery time to the Company from the backup will be within 1 hour of notification of the failure and/or malfunction to Vendor’s designated system support personnel/channel.

Where is the software hosted?

The application is hosted on a dedicated server provided by each company. You can buy the servers in your country and share the access with us. We will manage the same. Our recommendation is to take Amazon Web Services or Microsoft Azure.

How do you ensure secure storage of passwords?

The Application is designed and developed to store all passwords in encoded form using Bcrypt

What is the approach to validating input data?

Spring Security is used to validate input data and incoming requests in general to ensure that buffer overflows, sql injections etc are guarded against malicious codes and also virus attacks.

What measures are taken to protect sensitive data in store and what would be the impact of unauthorized access to the data?

Most of the sensitive data is stored in encoded form. Everything is based on AWS cloud, which is very secure.

What approach is taken for data encryption?

We are using SSL Layer(256-bit encryption and 2048-bit root keys) for any communication over the network, hence data is encrypted and protected.

What 3rd Party API/Payment gateways are used?

The Application uses 3rd party API/Payment gateways to perform any online payments and all related information (such as credit card numbers etc.) and no payment information will be stored on the on the system.