Neobank app, Europe
A neobank app that supports freelancers and gig economy workers in the European market.
* We developed this project under an NDA, so we can’t disclose its name or provide a link to the product.
Project idea
The idea for this project came up to our client because of the rapid rise of the freelance and gig economy in Europe.
Traditional banks often don't cater to the unique financial needs of this demographic like managing the challenges of irregular income.
Our client decided to launch a neobank app with both traditional banking features and those focusing on the needs of freelancers and gig economy workers. They approached us to design and develop a mobile application for Android and iOS.
Work steps
Our client’s main goal was to release a secure and reliable app that adheres to the required legal standards and start testing it on first users. To help them achieve it, we needed to complete several tasks:
Business analysis
Together with the client, we chose the basic app features and killer features to stand out from the competition
Based on what we discussed, we described all the features in the form of user stories and created an approximate time and cost estimation for the design and development phases, which were refined during the course of the work.
We had a meeting with the client to find out all the requirements and expectations. We outlined the following functions for the app:
User flow
At this stage, we created a mind map to visualize the app’s logic, navigation in the app, and show connections between screens.
Branding and ui
Our client already had a simple logo with an arrow symbolizing growth and connectivity — we just needed to adapt it to match the app's design and integrate it into the interface. However, since the project is under NDA, we changed the UI and logo in this case.
Color and font
We used a palette of purple, gradient, black and white - these colors reflect trust and clarity along with creativity. As for the fonts, we chose Sora for its clean, accessible look
UI kit
Key features
Sign in
To sign in, users need to enter their name, e-mail address, and choose industry.
KYC
Users upload their ID and a selfie to match with the ID
The app automatically verifies details and users receive a confirmation or a request for more information.
Home screen
The app automatically verifies details and users receive a confirmation or a request for more information
Home screen
Here users can see their cards, accounts, current balance, and recent transactions.
Transaction
This screen provides detailed analytics on users’ transactions, letting them plan their budget effectively
Predictive cash flow
The cash flow is shown in charts to represent income projections. Users can adjust forecasts based on hypothetical changes in income or expenses
Profile
In the profile, users can see and edit their personal info, change notifications settings, and set a profile picture
Development
We chose React Native and Laravel for development — this is our favorite tech stack that we use on most of our projects, since it covers the needs of products in many industries
React Native lets us create one codebase for both iOS and Android, saving time and money on development and maintenance. Laravel provides a secure and strong backend which is important for neobank apps.
We also have our own tools for Laravel, like a code generator and project starter, which makes the development faster.
Infrastructure
The neobank app has several services like transactions, support, analytics, etc, that need to be isolated from each other for security reasons. To do this, we set up the infrastructure of the neobank app using a microservice architecture. We used Docker and Kubernetes to containerize and orchestrate each app service, and Cloud SQL for reliable database management. To automate deployment and updates to the app, we used GitLab CI and Argo CD.
KYC
Neobank apps require users to pass KYC verification. To implement it, we integrated the app with Trulioo which offers global identity checks, including AML and PEP checks. It works well with React Native and Laravel, ensuring smooth integration into our tech setup. Trulioo complies with EU regulations like GDPR, helping the neobank stay safe and legal.
BaaS
For neobank apps, we need to use Banking as a Service solutions to enable banking features like opening accounts and processing payments. We helped our client evaluate providers from a technical point of view to define ones that meet the project needs. The client negotiated with several providers and settled on Solaris, a Germany-based BaaS.
Solaris offers features for payment processing and account management, complying with EU regulations. It supports real-time, SEPA, SWIFT, and faster payments, making it ideal for managing high transaction volumes.
Other
Auth0 for secure and simple authentication and authorization. TensorFlow for developing a machine learning model that predicts income fluctuations. Twilio for sending transaction alerts, verification codes, and updates. Firebase Cloud Messaging for push notifications. Intercom for customer support. Datadog for tracking performance.
Challenges we faced
Security and data protection
Laravel, the framework we use, offers built-in protections against common vulnerabilities such as DDoS attacks and SQL injection attacks. We also use automated tests to cover over 95% of key modules.
For data privacy, we never store private user information on our servers. Instead, we send it directly for KYC checks and banking processes. Access to our systems is tightly controlled; developers must request access via a bastion server, which is managed securely by a DevOps engineer.
Only DevOps and team leaders can access the production environment, and we use automatic deployments and encryption to keep everything safe. We also regularly back up data and use Cloud SQL replication to prevent data loss.
Compliance
To ensure compliance with major regulations such as PSD2, GDPR, AMLD, CRD/CRR, and Consumer Protection Regulations, we used ready-made solutions and frameworks with built-in compliance features.
Solaris provides PSD2 and AMLD compliance through its BaaS solutions, Twilio provides secure communication in line with privacy regulations, and Trulioo offers KYC services for AML compliance, while our automated deployments with Argo CD and GitLab CI help maintain audit trails for regulatory requirements.
Results
In just 6 months, we successfully developed the MVP of the neobank app and released it to the App Store and Google Play
The app has already passed the stores’ review processes, confirming that it met all significant requirements and adhered to legal standards. We continue to support the project by adding new features and updates based on user feedback.
