Lola Finance

About

LOLA Finance is a comprehensive fintech platform that empowers communities globally through financial services and community management tools. The mobile app enables users to communicate with their community, manage contributions, collections, and disbursements, while accessing wealth-creation opportunities. Users can access savings and loan products, make transfers on the LOLA network, pay bills, and invest in partner products. The platform also includes LOLA Store, a marketplace feature that allows businesses to set up mobile stores, showcase products and services, receive payments, manage finances, and access business loans through their community.

Features

• Manage your finances with wallet features
• Take loans and manage your debt
• Community Savings and Investment
• POS terminal integration for businesses to accept payments
• Pay bills & airtime

Challenges

• Migrating mobile application code from legacy systems to a modern architecture while maintaining functionality
• Integrating advanced KYC and fraud prevention features on both frontend and backend systems for regulatory compliance
• Optimizing the mobile application architecture to deliver seamless user experiences with improved performance and scalability

Approach

• Successfully migrated the mobile application from legacy codebase to a modern architecture using Flutter, enhancing code maintainability and scalability
• Integrated advanced KYC and fraud prevention features on both frontend and backend, ensuring regulatory compliance and improving user security
• Optimized mobile application architecture leveraging Flutter's capabilities and best practices in fintech development
• Streamlined backend processes to support robust fraud detection and prevention mechanisms, enabling real-time monitoring and secure transaction handling

Results

• Successfully completed migration from legacy systems to modern architecture, improving code maintainability and system performance
• Enhanced application security with advanced KYC and fraud prevention features, ensuring regulatory compliance
• Delivered seamless user experiences through optimized architecture and improved application performance
• Processed ₦5B+ in transactions last year, demonstrating the platform's reliability and scalability