Overview

Client is a Bullion company that deals in the trade of Gold. 

They wanted to venture into the market of providing gold loans for customers in the most easiest and flexible way possible and that too without any hassles for the customer.

They wanted customers to have a pleasant Gold dealing experience at which they could take loans on their gold. 

Problem Statement

• Platform for getting Gold Loan within 2 hours
• Keep all customer records and dealings digitally.
• Provide an easy interface for the customer to track all gold dealings

Our Approach – Proposed Solution:

We proposed a solution that provided an efficient way to deal with gold mortgaging

Front End: Angular

Database: AWS RDS

Back End: Node JS

The customers are able to track and manage their Gold Dealings and mortgages through the use of easy EMIs, or subscriptions. The instant payment was done for the gold mortgaged, and a full rebate of gold was awarded upon successful loan completion tenure and payment .

This solution provided an efficient way for customers who wanted loans against their valuable gold ornaments and bullions. They are provided with a highly efficient and informative interface that shows them the amount of gold mortgaged, loan duration, the EMI that they need to pay every month and many more things.

Challenges- Objectives achieved

1. Delivering the system within the stipulated time of 3 months
2. Multiple changes were incorporated within the application for full customer satisfaction.
3. Developers should be locally present to help out with the system development process
4. Understanding the customer requirements was a challenging task at the beginning and we managed to overcome it successfully.
5. Providing a user friendly interface with all the complexity was itself a big task on its own which we achieved with our flexible on demand in-house team.

Results – Customer Testimony

Client saw their platform usage increase by up to 750% within launch and was massively used for getting affordable gold loans for customers.

Nimap has been very supportive and polite in every aspect of the project right from the start. Even after bugging them with small changes in the interface and limiting the completion timeline, they have been very supportive and successful in delivering the project despite the tight deadlines. I will always be grateful for them in implementing this mission critical project for us. For anyone looking to implement any kind of development work or application maintenance work, will always recommend Nimap as the sole developer who worked tirelessly for us.

Overview

Gold investment has been a serious business for homemakers and jeweller shop owners. Even today buying and selling gold is done physically and there is no way to track and dispense gold transactions on a large scale. 

The main problem is that there is no viable or suitable platform that can sustain and provide such a structure that can handle gold transactions. 

In short, an e-wallet is needed to be developed such that gold transactions can be done and customers can buy and sell gold in the state-of-the-art digital format. 

The client who had 3500+ physical branches wanted an omnichannel solution that could facilitate and handle gold-based transactions for their customers thereby providing them with a medium to buy and sell gold digitally

Note: No physical gold dealing is being done here, all transactions work in a digital format providing customers with a gold wallet enabling them to buy gold efficiently. This is a dematerialized system for buying and selling gold digitally.

Problem Statement- Challenges Faced

• No platform exists for buying and selling Gold digitally
• Gold dealing is still done physically either in cash or cashless
• An E-Wallet system is needed to facilitate gold dealings for providing dematerialized gold dealings

.

Our Approach – Proposed Solution:

We proposed a system that provides the Client with a platform for buying and selling of gold digitally. 

The platform was developed in PEAN stack that is PostGres, Express, Angular, and NodeJS for doing gold transactions. 

This is the first ever mulli lingual platform that caters to all the states in india

We also provided the customers with an instant ONE MINUTE IMPS system that enabled them to sell gold at a later stage and updated the customers’ account instantly with the money they spent on gold. Hence the name Instant IMPS for Gold

The platform is being used by 3500+ branches of the Client in India. This system enabled them to provide the customers with a One-Of-A-Kind system that enabled them to transact in gold as well as providing them with an omnichannel platform that is centrally operated by their team.

Dealings with such an omnichannel platform enables users to interact with the system through multiple mediums such as  mobile devices, tablets, laptops or desktop computers.

Having an omnichannel solution means that customers as well as branch managers could manage and operate this system and this will facilitate multiple customer dealings simultaneously and in real time without interruption.

A customer can easily buy Gold for the price as low as Re1 to as high as he or she wants it to be.

The gold is credited to the e-wallet instantly after purchase.

If the customer wishes to sell gold at a later stage, then INSTANT IMPS credits the amount instantly in the customers’ bank account within one minute

Challenges- Objectives achieved

The platform to be developed is the first platform in India that provides the customer to handle digital gold trade effectively and efficiently.

The discrepancies faced by customers in validating and transacting with the rising gold prices meant to provide a flexible solution that is apt in digitizing the entire gold trading system.

The proposed system had its share of flaws, which included integrating with the current trading and exchange system to regulate and provide optimum gold trading  prices for the customer

To achieve this:

• We worked with 3rd party banks to enable IMPS integration for gold trade
• We worked with various Payment gateway merchants to enable cashless transactions for gold
• We provided the first-of-its-kind gold dealings platform for the client
• The system is flexible to handle operations of gold dealings for all of its 3500+ branches centrally and having ZERO downtime

When the project was discussed with the inhouse team of the client, they told that such kind of project will take minimum 8 months to complete.  Nimap took this as a challenge and could deliver fully working project within the span of 2 and a half months.

Results – Customer Testimony

The client company launched the platform and saw a 450% increase in Gold dealings bought and sold through their platform. The platform enabled easy trading system for customers to transact gold and get their value in exchange for a profit.

Nimap Infotech was vibrant and robust in providing support for this project right from the start.

They have been meeting all the expectations starting from the requirements analysis phase towards the implementation of the project at the end. I will say that they have been supporting us even in the pandemic phase and completed the same along with prompt delivery. Even after requesting for multiple changes they were patient and polite in implementing the project. Will recommend them for any kind of application development work.