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Fintech & LendTech

Most fintech companies start with the product and leave accounting for later. A few months on, once transaction volumes have grown, it turns out that wallet balances do not match the company's accounts, and rebuilding the accounting is harder than building the product was. Dara provides wallets, credit cards and the credit contract on its Financial Core, so the fintech team can focus on the customer experience while every transaction has a correct voucher from the very start.

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Challenges we hear about

  1. 01

    Accounting lags behind the product

    Balances are kept in the product's own tables, and the accounting is produced from them later through file exports.

  2. 02

    Unfinished purchases and locked credit

    If the merchant does not confirm a purchase or the connection drops, the customer's credit can stay locked for no reason.

  3. 03

    Duplicate requests

    A network connection that drops and comes back mid-payment creates duplicate transfers or purchases.

How Dara responds

  1. 01

    Wallets and cards on the Financial Core

    No wallet or card has a balance column, and every operation becomes a voucher first.

  2. 02

    Two-phase purchases with automatic expiry

    A purchase starts as a provisional voucher and becomes final once the merchant confirms it. If confirmation does not arrive in time, the credit is released automatically.

  3. 03

    An idempotency key on every request

    Transfers, purchases and voucher postings carry an idempotency key, so a repeated request has no second effect.

  4. 04

    A credit contract for buy now, pay later

    Credit top-ups, billing-period statements and automatic conversion of each period's spending into Solar Hijri installments.

Recommended solutions

01

Scoring & Eligibility Models

Daily deposit balances are converted into scores every night, and an eligibility policy turns each score into a financing limit. Eleven scoring methods and four eligibility models are available.

  • Eleven scoring methods, from average daily balance to progressive tiers
  • Four eligibility models with rounding rules and minimum and maximum amounts
  • Each method's parameters held in a versioned policy, outside the code
Solution details
02

Loan & Credit Product Builder

Define financing products through configuration: profit and penalty rates, installment start policy and eligible collateral, attached to one of fifteen Islamic contracts. Installment schedules are built on the Solar Hijri calendar.

  • Fifteen Islamic contracts, each with a dedicated calculator
  • Solar Hijri installment schedules with a fixed day of the month and three profit distribution methods
  • Repayments allocated to penalty, then profit, then principal, following the Central Bank of Iran's priority order
Solution details
03

Cards & Customers

Card credit lines on the Financial Core. Each card type is linked to an account heading, purchases are posted in two phases, and if the merchant's confirmation does not arrive, the credit is released automatically.

  • Single and bulk issuance, replacement cards, renewals, primary cards and card sharing
  • Physical card activation with a one-time password, plus PIN management
  • Two-phase purchases: a provisional voucher at purchase, a final voucher on confirmation
Solution details
04

Digital Wallet

A wallet with a unique 16-digit number for top-ups, withdrawals, transfers and amount holds. The balance is read from the Financial Core, and the available balance is the balance minus active holds.

  • Single and bulk opening that carries on even if some rows contain errors
  • Wallets organized into groups
  • Voucher posted before any change to wallet status
Solution details
05

Neobank Toolkit

A customer app and portal built on the same core the back office uses. The balance a customer sees is the figure recorded in the Financial Core.

  • Account opening and digital identity verification
  • Cards overview and account turnover by date range, with Excel export
  • Funds transfers with a one-time password and a request idempotency key
Solution details
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Talk to us about your organization

In a demo session we walk through your organization's scenarios on Dara's demo environment and answer your technical and finance teams' questions.

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