Category: Technology / Ideas
stack:React native, graphql
#01. The challenge
As blockchain technology gains traction over the world there’s been an increasing interest in how we can apply these technologies within banking.
In 2019 Garla, an Italian neo-banking company got in touch with us. The task was to build a completely new neo banking platform for them, complete with crypto currency support, contactless payments and bank cards that would allow users to make purchases using crypto currencies.
#02. The Solution
We set out to create the ultimate neo-bank, one which is not only user friendly and intuitive but can handle transactions with our crossbanked issued bank cards seamlessly.
- Fiat & Crypto currency support
- Crypto backed bank cards
- Crypto investment module
- Contactless payments
Users can freely make purchases using both crypto currencies and fiat held in their accounts. All whilst keeping the technicalities as far away from the user as possible. To ensure this we divided the application into multiple user tiers, where the user themselves choose their knowledge level in the crypto sphere and a set of cryptocurrencies that their account has unlocked is based upon. For the beginner mode only stablecoins are used, ensuring no unpleasant surprises may arise if a cryptocurrency gains or loses a large amount of value in a short period of time and the user tried to purchase something with their card afterwards.
#03. The Result
Crossbanked exceeded 100 000 downloads within the first month of release and kept a top position among most downloaded apps within the finance category during this time.