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Streamlining FinCEN Advisors’ Digital Platform Digital Platform with Hourly Full Stack Development

Written By: NextGen Coding Company
Published On: Thu Aug 15 2024
Reading Time: 5 min

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Task

FinCEN Advisors partnered with NextGen Coding Company to modernize and streamline their digital platform to better serve clients navigating Corporate Transparency Act (CTA) compliance. The existing platform faced challenges, including outdated workflows, scalability limitations, and inefficient integrations with essential tools like AWS for cloud hosting, Stripe for secure payment processing, and Supabase for database management. The project required flexible, incremental improvements using an hourly full stack development approach to provide real-time updates and adapt to evolving requirements. With a focus on improving user experience, scalability, and backend performance, the solution aimed to streamline complex compliance workflows, ensure data security, and handle increased user demand effectively.

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Solution

NextGen Coding Company implemented a comprehensive development strategy combining advanced technologies, iterative updates, and Agile principles to transform FinCEN Advisors’ platform into a scalable, user-friendly solution.

  • Platform Assessment and Agile Development Approach:
    A detailed platform audit was conducted to identify bottlenecks in user workflows, backend performance, and integrations with third-party services. By adopting an Agile development methodology, the team implemented an iterative, sprint-based approach to development. This enabled the delivery of incremental improvements, such as optimizing the user onboarding process, streamlining compliance reporting workflows, and integrating new functionalities for automated notifications. The hourly full stack development model allowed for real-time adaptability, ensuring immediate response to client feedback and evolving priorities.
  • Front-End Modernization Using React:
    The platform’s front end was rebuilt with React, providing a responsive, mobile-friendly interface that enhanced user experience. The redesign introduced dynamic dashboards for real-time tracking of compliance deadlines and submissions. Navigation was simplified using React Router, which allowed seamless transitions between sections like document uploads, payment history, and user profiles. To improve accessibility, interactive elements such as tooltips, inline help guides, and visual progress indicators were incorporated, reducing the learning curve for new users and making complex compliance workflows more intuitive.
  • Back-End Enhancements with Node.js and Supabase:
    The backend architecture was optimized using Node.js to improve performance and scalability, enabling faster response times for API calls and better handling of concurrent requests. Supabase was used to manage the platform’s database, offering robust data synchronization and secure storage for sensitive compliance information, including Beneficial Ownership Information (BOI) filings. A RESTful API was built with Express.js to facilitate seamless communication between the front-end interface and backend systems. Additional features, such as automated compliance notifications and reminders, were integrated to keep users informed and reduce the risk of missed deadlines.
  • Secure Payment Processing with Stripe:
    Payment workflows were streamlined through the integration of Stripe, enabling users to complete transactions securely and efficiently. Real-time payment status updates, automated invoicing, and receipt generation were added to enhance user transparency and reduce administrative overhead for FinCEN Advisors. The integration also included support for recurring payments, facilitating subscription-based services for businesses needing ongoing compliance management.
  • Scalable Infrastructure with AWS:
    The platform’s hosting infrastructure was migrated to AWS to ensure scalability and reliability. By leveraging AWS Lambda for serverless execution, the system dynamically scaled resources based on traffic demands, ensuring high availability during peak usage. Amazon CloudFront was implemented to provide low-latency content delivery to users across different regions. Large files, such as compliance documentation and BOI reports, were securely stored in Amazon S3, enabling fast retrieval and minimizing downtime.
  • Enhanced Data Security and GDPR Compliance:
    The platform adhered to strict GDPR guidelines to protect user data and ensure compliance with international privacy standards. Encryption was applied to sensitive data both at rest and in transit, while robust access controls were implemented to restrict unauthorized access. Security measures included AWS Shield and AWS WAF to defend against DDoS attacks and other cyber threats, ensuring a secure environment for users.

Outcome

The partnership between FinCEN Advisors and NextGen Coding Company resulted in a fully modernized, efficient, and scalable digital platform, delivering transformative results for both the client and its users:

  • Enhanced User Experience:
    The rebuilt front end, powered by React, significantly improved navigation, accessibility, and overall usability. Users reported a 30% reduction in task completion times, particularly for compliance reporting and BOI submissions.
  • Improved Scalability and Performance:
    The migration to AWS infrastructure enabled the platform to handle 50,000+ concurrent users during peak periods without performance degradation. Dynamic scaling through AWS Lambda ensured consistent uptime and responsiveness.
  • Streamlined Payment Workflows:
    The integration of Stripe reduced payment processing errors by 40%, while automated invoicing and real-time status updates improved transparency and user satisfaction.
  • Increased Operational Efficiency:
    Automated compliance reminders and notifications reduced manual follow-up tasks for FinCEN Advisors’ staff, freeing up resources for higher-value activities. Real-time dashboards and tracking features improved client oversight and reporting capabilities.
  • Data Security and Compliance:
    By adhering to GDPR and implementing advanced security measures with AWS Shield, the platform earned user trust, leading to a 25% increase in returning clients.

Through its hourly full stack development model and integration of cutting-edge technologies, NextGen Coding Company delivered a robust, scalable, and user-friendly digital platform that positioned FinCEN Advisors as a leader in compliance solutions.

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