Strategic Outsourcing: Euvic Accelerates IronVest’s App Redesign

Front and Back-End Development Software Quality Assurance (QA) and Testing Modernization/Digital Transformation AI and Machine Learning

Overview_

IronVest, a fintech company specializing in biometric fraud prevention, partnered with Euvic to modernize its consumer application portfolio. Facing rapid growth and tight timelines, IronVest outsourced to Euvic for their fintech expertise and ability to scale. Euvic redeveloped IronVest’s outdated v1 web, mobile apps, and browser extensions, delivering a secure, modern solution that integrated biometric authentication and improved user experience.

Migrated outdated technology to modern systems, including React and AWS.

Enhanced security features with biometric authentication.

Seamlessly transitioned between old and new interfaces, improving UX and branding.

Redeveloping this solution with in-house teams would come with a significant opportunity cost. Bringing in Euvic meant that our internal team could continue working on our core technology and we could bring in highly skilled engineers for niche technology needs as they came up.

Kfir Yeshayahu, CTO and Co-Founder of IronVest.

Client_

IronVest is a cutting-edge fintech company specializing in biometric fraud prevention and digital security solutions. The company is on a mission to provide the most secure, private, and trusted digital infrastructure while delivering seamless user experiences. IronVest's solutions aim to eliminate fraud, reduce operational expenses, and enable zero-interruption banking experiences for financial institutions and individuals.

Industry:

Fintech

Country:

USA

Background_

Financial fraud is big business. The FTC receives fraud reports from 2.6 million customers each year, and US fraud losses topped $10 Billion in 2023. Every $1 of fraud costs the US financial services $4.23. And this is not just a problem in the United States. Financial fraud is increasing by 4.2% worldwide as technology-enabled banking and financial services open new opportunities for online criminals.

Serving both B2B and B2C customers, IronVest is a revolutionary biometric fraud prevention infrastructure, security, and privacy technology company. IronVest offers a platform developed to protect data, identity, and financial accounts in every online transaction, preventing fraud rather than detecting it. Using bank-grade security, IronVest’s platform ensures that only authorized users can access and transact in any account.

IronVest technology results in a 0-rate of fraud among its customers, be they individual users or banks.

Challenge_

IronVest is a growing and funded fintech startup in a period of rapid innovation and customer acquisition.

Operating with speed and intensity is a daily standard within the IronVest team. The engineering priorities are varied and the timelines are tight.

The company needed diverse and flexible engineers to execute on a growing list of projects.

IronVest was expanding in the midst of an engineering talent war. Outsourcing to a partner that could scale and adapt to needs as they arise was the right strategic move, rather than slowing progress and limiting flexibility by building an in-house team.

Solution_

I appreciated the quality of the collaboration. The Euvic team was fully integrated with us, which was a real asset given the hectic environment in a fintech startup. They are flexible and open minded partners.

Kfir Yeshayahu, CTO and Co-Founder of IronVest.

The company interviewed several outsourcing firms, both onshore and offshore. IronVest selected Euvic because of its fintech experience, excellent communication, and the strength of its references.

The first project would be a full redesign of the consumer application portfolio.

IronVest had a v1 web application, browser extension, and iOS and Android mobile applications for its consumer-focused line of business using outdated technologies. The company needed to develop an entirely new version for its v2 release and needed an outsourced team that could interpret the technology, user experience, and product features across the web and mobile applications.
Euvic assigned a core technical team that would operate as an extension of the inhouse IronVest team. Euvic deployed additional engineers with specialized skills as needed over the duration of the project.

Euvic took ownership of the development of a fresh, secure, and modern web application. The Euvic process ensured a seamless transition between old and new interfaces, with a complete overhaul of user settings and subscription management. Euvic provided services that included:

Enhanced the IronVest WebForm Autofill System

Migrated outdated Ruby application to a modern IronVest web application in React

Rebranded the browser extension

Integrated solutions with biometric authentication
Delivered completely new branding and UX based on client guidelines
Delivered smooth support for switching between the old and new interfaces
Conducted end-to-end (E2E) tests ensuring efficient operation across various environments.

The Euvic code is incredibly clean and the architecture is superior to anything I’ve experienced with other offshore developers. Now our Android application, for example, operates with better performance and less technical debt.

Kfir Yeshayahu, CTO and Co-Founder of IronVest.

Tools & technologies

The Dream Team_

Euvic’s flexible delivery model enabled IronVest to access exactly the right engineering talent as each need arose. A typical project team included expertise such as:

Technical Leader (AI/ML) + Junior Engineer (AI/ML)

DevOps Engineer

Software Engineer

Ruby-on-Rails Senior Engineer

Mobile Senior Engineer

Technical Leader + Software Engineer (Frontend and Integrations)

Blockchain/Software Engineer

Result_

Euvic’s team delivered a completely new and modern application built on scalable and durable technologies that IronVest is continuing to build upon today.

If I were to give advice to other startup CTOs, I would say to use Euvic as a force multiplier so you can move fast without waste.

Kfir Yeshayahu, CTO and Co-Founder of IronVest.

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