RAIS Together - A Peer-to-Peer Platform for Social Impact and Financial Empowerment
Overview
RAIS Together is an innovative peer-to-peer (P2P) platform designed to unlock the potential of artisans, entrepreneurs, and small-scale farmers worldwide. By developing cutting-edge technology and robust infrastructure, RAIS Financial facilitates investments aimed at generating significant social impact alongside financial returns. The platform empowers impact investors to participate in providing micro wealth-generating products to the financially underserved, making a tangible difference in communities across the globe.
Technology Stack
Overview
RAIS Together is an innovative peer-to-peer (P2P) platform designed to unlock the potential of artisans, entrepreneurs, and small-scale farmers worldwide. By developing cutting-edge technology and robust infrastructure, RAIS Financial facilitates investments aimed at generating significant social impact alongside financial returns. The platform empowers impact investors to participate in providing micro wealth-generating products to the financially underserved, making a tangible difference in communities across the globe.
Technology Stack
Problems
Many talented artisans, entrepreneurs, and small-scale farmers in underserved regions struggle to access the financial resources they need to grow their businesses and improve their livelihoods. Traditional financial systems often overlook these individuals, leaving them without the necessary support to unlock their full potential. Additionally, potential impact investors lack accessible platforms that enable them to contribute to social change while achieving financial returns.
Objective
RAIS Financial aimed to create a P2P platform that would bridge the gap between impact investors and underserved communities by providing an accessible, user-friendly, and secure environment for facilitating microloans and other financial products.
Solutions
Here’s how we helped RAIS Financial
Lending Functionality
Developed a platform where anyone interested in making an impact can provide loans and other micro wealth-generating products to disadvantaged individuals. The system is designed to be easy to use, ensuring that impact investors can participate without requiring extensive financial expertise.
Borrowing Access
Created a mobile-accessible platform that allows users with smartphones to easily apply for and receive loans. The platform offers these financial products at low costs, making them accessible to individuals who are typically underserved by traditional financial institutions.
Backend Development
Utilized Python with the FastAPI framework and SQLAlchemy for a robust backend that supports complex financial transactions while ensuring high performance and reliability
Frontend Development
Built a Progressive Web Application (PWA) using Next.js with React (TypeScript), providing users with a responsive and intuitive interface that works seamlessly across devices.
Database Management
Implemented PostgreSQL for secure and efficient data storage, ensuring that all transaction data and user information are
safely managed and easily retrievable.
Secure and Scalable Infrastructure
Designed the platform to be scalable, allowing RAIS to grow and serve an increasing number of users without compromising performance or security.
Results
- Increased Access to Financial Products: The platform enabled thousands of underserved individuals to access loans and financial products, empowering them to grow their businesses and improve their financial independence.
- Facilitated Impact Investments: RAIS successfully attracted a growing community of impact investors, leading to a substantial increase in the number of loans provided within the first six months of operation.
- Enhanced User Experience: The PWA provided a seamless experience for both lenders and borrowers, with a high satisfaction rate reported by users, who praised the platform’s ease of use and accessibility.
- Scalability and Security: The robust backend and secure infrastructure ensured that the platform could handle increasing transaction volumes without compromising user data security, supporting RAIS’s mission to scale globally.
- Agile Development Success: The use of Agile methodology enabled the team to quickly iterate and release new features, keeping the platform aligned with user needs and market demands.
