Financial Software Development Services Case: OttoQuant
App for Financial Predictions Based on Unique Mathematical Models
Development service
An app for economic forecasts generation based on product owner’s mathematical models
Business niche
Finance analytics and economic forecasting
Time spent on the project
1600 hours
Technologies we used
Docker, React, R, Django, AWS S3, Kubernetes
There are not many software solutions on the market that can independently generate financial forecasts
In addition, many niche professionals use outdated mathematical models, thereby producing incorrect results that do not benefit or even harm companies.
Financial analysis plays an important role in making management decisions. In particular, it helps to make management decisions related to strengthening the financial and economic condition of the enterprise. The main purpose of financial analysis is to obtain information that gives an objective assessment of the financial condition of the enterprise. At the same time, the head of the company is most often interested not only in the current financial situation of the enterprise but also in its future.
Client/Target audience
The owner of this solution is a scientist who has been engaged in statistics of various economic indicators all his life and has his own mathematical models for predicting various indices based on his own scientific works. The application is designed for those who need a high-tech tool for financial forecasts.
Product overview
Product overview
Product owner, within their scientific activities, develop effective mathematical models that allow automating tasks that previously were solved manually by financial departments of companies, relying only on their own (and often irrelevant) experience.
In turn, we received the task to transfer the obtained mathematical calculations to the software environment and create a full-fledged application in which each user could use ready-made algorithms for forecasting, or build our own and share them with other users.
Ready to see what we can do for you?
Download caseOur development team
Our development team Our development team consisted of 10 specialists. Despite the small team, we managed to implement the project within established deadlines.
- 1
Project manager
- 2
QA specialist
- 1
Designers
- 3
Front-end developers
- 3
Back-end developers
Our approach
We have built a user-oriented application where each of the users can create own projects. Each project in this service is a separate Docker container deployed on Amazon web servers. All mathematical calculations are written in R - the programming language.
Django
This is a Python-based framework for developing web applications with which we created the backend
React JS
This is a JS library for creating user interfaces, we used it for frontend development
Kubernetes
This is an open source platform that automates many of the manual processes involved in deploying apps
Docker
This is an open platform for developing, shipping, and running applications.
Testing
We paid special attention to testing the usability of the solution so that its interface has a minimal learning curve.
AWS S3
This is a cloud object storage with industry-leading scalability, data availability, security, and performance.
Django
This is a Python-based framework for developing web applications with which we created the backend
React JS
This is a JS library for creating user interfaces, we used it for frontend development
Kubernetes
This is an open source platform that automates many of the manual processes involved in deploying apps
Docker
This is an open platform for developing, shipping, and running applications.
Testing
We paid special attention to testing the usability of the solution so that its interface has a minimal learning curve.
AWS S3
This is a cloud object storage with industry-leading scalability, data availability, security, and performance.
Django
This is a Python-based framework for developing web applications with which we created the backend
React JS
This is a JS library for creating user interfaces, we used it for frontend development
Kubernetes
This is an open source platform that automates many of the manual processes involved in deploying apps
Docker
This is an open platform for developing, shipping, and running applications.
Testing
We paid special attention to testing the usability of the solution so that its interface has a minimal learning curve.
AWS S3
This is a cloud object storage with industry-leading scalability, data availability, security, and performance.
Solution overview
As a result, we received a comprehensive solution for economic forecasting. This app is based on the principles of terminal functioning. Here users can create separate accounts, with their own tariff plan (Free or Premium). This is very convenient if the particular user is engaged in economic or scientific activities.
Owlab has developed a unique mathematical model that allows making economic predictions based on real data and facts. Our product conducts high-quality financial analytics to make a more profitable decision.
- Users can view research results both in their personal accounts and in their mails - at a selected interval, in the form of tables and graphs;
- 2 types of forecasts: popular predictions(e. g., the Dow Jones index), and custom forecasts that the user can build on the basis of available data;
- Premium account users can submit APIs with their own custom predictions for third-party services. This is a very useful feature that gives others real-time access to the user’s own research;
- Two user-friendly themes (light and dark);
Basic features for users:
- In UI we have created a convenient menu for mathematical models building. It includes a huge number of indicators (region, time period, degree of approximation, etc.);
- The system remembers the settings of the forecast at all stages of building, by creating a draft. Thanks to this, the user can close the app window in order to return at any time convenient for him/her and continue working;
- Also, users have the opportunity to download their own script in the form of a table.
Features of the constructor of mathematical models:
- Users can view research results both in their personal accounts and in their mails - at a selected interval, in the form of tables and graphs;
- 2 types of forecasts: popular predictions(e. g., the Dow Jones index), and custom forecasts that the user can build on the basis of available data;
- Premium account users can submit APIs with their own custom predictions for third-party services. This is a very useful feature that gives others real-time access to the user’s own research;
- Two user-friendly themes (light and dark);
Basic features for users:
- In UI we have created a convenient menu for mathematical models building. It includes a huge number of indicators (region, time period, degree of approximation, etc.);
- The system remembers the settings of the forecast at all stages of building, by creating a draft. Thanks to this, the user can close the app window in order to return at any time convenient for him/her and continue working;
- Also, users have the opportunity to download their own script in the form of a table.
Features of the constructor of mathematical models:
Need help creating a similar solution?
Write to us right now and we will contact you as soon as possible to discuss your business idea in detail.
FAQ
What is Fintech?
Fintech (financial technology) is the provision of financial services and services using innovative technologies. We are talking about Big Data, artificial intelligence and machine learning, robotization, blockchain, cloud technologies, biometrics and others.
What areas of Fintech exist?
- Personal finance
- Payments
- Lending
- Money transfers
- Investment platforms
- Big Data Analysis
- B2B fintech
- InsureTech
- Artificial intelligence
- Crowdfunding
- Neobanks
- Blockchain
How to choose a software development company for a Fintech startup?
Nothing says more about a software development company than the products that this company has developed. If you are looking for a fintech startup development company, you can contact us. Owlab has been creating and developing projects related to financial technologies, blockchain, etc. for more than 10 years.
How much does it cost to develop a Fintech startup?
Focus on your capabilities and set goals that you can achieve in the shortest possible time. For example, launching an MVP is what will allow you to quickly find investors to further finance the project, and a couple of thousand dollars may be enough to develop this MVP. Contact us and tell us about your project so that we can make a detailed cost estimate for you.
- Head/Development Office