FxStore
FxStore wanted to build an innovative foreign exchange platform digital-first. We helped them achieve their dreams.
FxStore is a portal for buying/selling forex (foreign exchange) online. Users can register themselves and use the wizard-style ordering system to buy or sell forex that covers all the complex rules involved in the foreign exchange business in the simplest possible way. FxStore has a comprehensive back-office management system where all the transactions are queued and picked up by personnel having privileges to process the transactions. The application also has inventory and accounting modules to manage stocks and finances for the business.
Problem
FxStore operated in a domain which was very strictly regulated by the government agencies. Forex exchanges are mandated by the law to store many documentation. The law also had complex rules while performing the foreign exchange which our web application was supposed to do as well. Also, this was one of the first times a Forex was trying to go digital.
Our solution
We created a small team to do the following:
- Study the feasibility of the rules and regulation
- Consult with the law experts on what would apply for a digital forex
- Suggested and implemented a wizard-like interface (one of the first few web wizards during 2009) to collect user data
- Launched the web app within 6 months from inception
