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Popular questions

The business model we are going to implement is quite specific, and same is for the regulatory requirements in our country. What is the Wallet Factory’s approach for delivering custom solutions?

Many technology providers sell wallets ‘as is’ or provide APIs so that companies can plug in additional functionality. This is however not what most of our clients expect because it requires extra team, efforts and resources from the client’s side, let alone the longer time-to-market. 

Our approach is quite the opposite to merely selling the platforms as is. Each of our clients has its own business model, requirements, and expectations for the desired software solution. Every market itself has its own landscape, relationships and regulations. So we provide our customers with a bespoke solution and are capable of customizing it entirely to facilitate every need.

What’s the typical workflow for customized solutions delivery?

Right after the contracting and teams setup, the project business analyst starts working with the customer directly. Alongside the business and functional requirements elicitation, there’s a parallel stage of basic design adaptation. Normally it takes several weeks and ends up with an as-is solution deployed in a test environment (R0). Then goes the stage of integrations and scheduled waves of change requests implementation. Before the pre-launch we fully test the solution, finalize the documentation and manuals, conduct the necessary client staff training, etc. After the project completion, a post-warranty stage begins where we provide system maintenance, technical support and new functionality development as per the client’s needs. We tend to keep ourselves capable of providing the ‘full throttle’ acceleration when it comes to onboarding and deployment for every new client, avoiding bureaucracy at all stages and remaining truly flexible when the capacity growth is expected.

‘Services’ and ‘Platforms’ do describe similar things in terms of functionality, let’s for example compare the eWallets service and the Digital wallet platform. What’s the bottomline difference and how to make a choice?

Well, Wallet Factory’s services are something that is backed by our platforms, located in a secure cloud. If you need to deploy the functionality within your own environment, you’ll probably need to license a platform. While services fit better to startups, small and niche companies, the platforms are designed for enterprises aiming at challenging the regional financial landscape and driving financial inclusion. The cost structure is correspondingly different: for the services we charge per active customer, while the platform ownership costs usually include the license fee, source code fee, maintenance etc.

Do you sell the source code for the platforms?

We do. And we can support your developers to speed up their adaptation.

Are you capable of creating interoperable wallet solutions, i.e. integrating with other payment systems, wallets etc.?

Of course, this is fundamental. Both close loop and open loop solutions can be created, depending on your business needs. Our solutions can be integrated with the core banking systems, payment systems and gateways, money transfer services, and diverse service providers, utility payments, 3rd party verification/KYC, AML, and BI to name a few.

What’s a typical team setup from Wallet Factory’s side?

Each particular project is led by a fully dedicated team of up to 7±2 software engineers: a scrum master (project manager), a business analyst for the requirements elicitation, Lead developer (solution architect), a senior back-end developer, a couple of mobile app developers and a QA lead.

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    How many wallet customers will you be serving potentially (for pricing and configuration purposes)?