Backend Development and a React Native App for a Real Estate P2P Lending Company

The Client

easyMoney is part of the “easy” family of brands in Europe which includes easyJet, easyHotel etc. It is a peer-to-peer lending platform focusing on providing investors access to loans backed by UK property which they can hold in an Innovative Finance ISA (IFISA) or Regular investment account. Its driving principle aims to provide its customers with a better return on their investments through simple and honest products that offer more value for less money.

Established in 2018, easyMoney operates via a web-based platform that has recently expanded to support mobile users.

easyMoney’s Objectives

At the time, being a relatively new player in the P2P market, easyMoney sought to improve the functionality of its existing web-based platform, as well as expand its market reach with mobile users. To achieve these objectives, they sought to augment their existing team with several specialized developers. Their priorities consisted of:

01

Maintain existing functionality of easyMoney’s web-based platform, as a baseline requirement.
02

Create the backend for easyMoney’s new mobile application, serving as the main technical goal of the project.
03

Gradually port the functionality of the web-based platform to easyMoney’s new mobile app.

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Solution and Outcome

easyMoney asked for our help in putting together a crack team of specialists in Laravel and PHP for server-side backend development and React Native for mobile frontend frameworks like Expo. We examined our entire talent pool to find the engineers with the right mix of skills and experience to deliver on their request within tight deadlines and provide a flexible, affordable team that covers all the bases.
With the guidance of their CTO, our initial team of engineers jumped onto the platform and quickly became acquainted with the existing codebase and backlog. After a brief onboarding period, they were able to rapidly get up to speed. Our team integrated their processes with light supervision from their team leader while using Jira to track progress.

Laravel

React

PHP

React Native

Our collaboration successfully revamped their existing platform and led to the deployment of an entirely new React Native application to supplement the existing web portal. Details of our efforts include:

Stage 1
Beyond merely maintaining the existing functionality of easyMoney’s web-based service, we released several updates based on feedback from users and the product owner including
- Development of client and admin utilities for transferring Individual Saving Accounts (ISA) to our system and from our system.
- Added support for different currencies.
- Improved the authorization system for users of different services along with support for multi-factor authorizations.
- Added the ability for users and administrators to generate documents and reports.
Stage 2
Our team dramatically expanded their backend functionality for offering and processing investments.
- Development of a separate portal for borrowers from scratch.
- Expanded existing Know Your Customer (KYC) service to support a broader range of providers in compliance with KYC regulations.
- Integrated React components into the web-based platform.
Stage 3
We created a React Native application from scratch along with an API for mobile users to utilize alongside the existing web platform to make investments, track interest, perform deposits and withdrawals, and other activities.
- Сreated a mobile application for the wallet with a separate service API for it.
- Integrated push notifications in the web-based system for the mobile application.

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91% User Satisfaction!

According to Trustpilot, an independent business rating and review platform, easyMoney has received over 200 reviews. Of these, 75% of users have given them an overall Excellent rating, with another 16% rating them as Great. While this has much to do with the quality and performance of their investment services, their users frequently comment on how easy it is to use, with comments like:

Very friendly team. A welcoming website and easy to navigate.
Platform very clear, so easy to understand!
I've used various p2p lending platforms, and have now been with easyMoney for a year. The platform is easy to use, and the target returns have been achieved without fail. So far, so good!

Application Launch and Business Growth
easyMoney's strategic expansion into mobile platforms in 2022 contributed to the company's consistent growth trajectory. Following the development pattern of successful fintech companies, easyMoney focused on enhancing platform accessibility while maintaining core investment functionality.
The company demonstrated strong year-over-year performance:
2020: $345,387 in profits
2021: $729,847 in profits, representing 111% growth
2022: $1,404,000 in profits and $6,661,728 in revenue, marking 92.5% profit growth
As Jamie Learmonth, CTO at easyMoney, explains, "In general, the fintech and finance space have moved more and more towards mobile, where traditionally you might have said that people prefer to handle their financial affairs on a computer. But now, people expect your service to be very easy to use via a modern mobile app to even remain relevant. We've spoken to some younger investors who actually choose their providers based on the quality of their mobile apps."
This growth pattern demonstrates easyMoney's successful adaptation to changing investor preferences, particularly among digital-first users seeking mobile investment solutions.

About Binary Studio

Binary Studio is a boutique software development company, regularly praised for its unique blend of engineering excellence and product ownership that enables its clients to build robust and scalable software products.
With our development team made up of top 0.5% international tech talent, we build web and mobile platforms using Node.js, .NET, React Native, Flutter, and integrating AI and ML. We also offer full-cycle QA and project management services to ensure the efficient delivery.
Our clients see us as a trusted partner dedicated to turning visions into great products. This is proven by 200+ delivered projects, more than two decades of business excellence, and stellar customer reviews.

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