Fintech platform for tariff calculation and comparison
Design and development of the platform for electricity providers and consumers in Sweden. The platform deals with high-load requests in the environment of real-time data updates on new tariffs and suppliers which allowed changing the tariff plan 3 times faster if compared to the traditional approach.
The prime task was in the development of the web platform from scratch based on the rough planning of the customer. The customer aimed to resolve the problem with the selection of the particular service provider when service prices change in a moment. Especially when energy is provided and transported by different providers. Introducing the platform with both complex calculators and comparison filters covered that need.
As far as tariffs data can change from day to day, the entire database required regular automated updates without interference in its work. Regular updates also had to appear with the front part of the platform to suit the changing needs of the users and provide the informational blocks they truly need.
A flexible development approach and introduction of a specialised search engine allowed covering 95% of consumers to be relevant for platform application. This means that customers who do not find their incumbent supplier in the calculation, in any case, find all offers of other suppliers available in the market.
Pecularities of implementation
Development of professionally looking web platform
Special attention was given to the development of the user experience flow and visuals of the platform. As part of the task, it is required to suit both, user and SEO requirements. To make the platform simple for users, the team created a special test group to find any drawbacks in the offered design. As a result, the designer combined the service information into special packages which included all components for the price of electricity, a complete description of the provider, additional payments, availability data and other points that were outlined as crucial by the test group. Search and compare functions included special advice for better accessibility of the platform and user-friendliness. If the user does not have their actual consumption value at hand, which appeared to be quite common, it is possible to create an estimation of yearly consumption based on the size of the user’s household and make their life easier. Being the connecting point for consumers and providers, the flow of changing service providers includes redirecting to the target pages for better information for the user about their potential provider.
Development of robust modules with filtering and calculations
The biggest part of the project was in the collection and updating of the information in the database received from numerous sources. The team developed the main functional features of the platform: an updated dynamic database collecting info via several APIs from third-party sources, a powerful search engine for finding information inside and outside the database, modules with calculators and comparison with numerous multi-staged filters and adjusted segmented blocks. The search and compare module primarily worked based on the location of the user to show the relevant results with fewer efforts from the user’s side. Calculation module operation depended on the specified data as well – location, tariff plan, average and relative consumption and production of the energy. This information is bound to the addresses of the visitors through the postal code and the analysis of their interaction with dynamic fields. All the pages with calculations and filters were made reactive not to disturb users with the reloading of the info. Constantly updated data required the special development approach ensuring reliable operation of search queries and stable general work of the platform. APIs were used both to receive initial data from external sources and exchange the data packages within the platform modules.
Admin panel with automated processes
The team created the multi-purpose admin panel allowing the creation, management and operation of the accounts of service providers, performing their moderation and adjusting the platform. In such a way the platform received automatic adaptation based on the data received via APIs, pages of active suppliers and tariffs. The admin panel was specifically developed to be simple and clear with the ability to withstand high loads and satisfy a wide range of functions. The team introduced a special administrator notification panel about any changes in the tariff plans with real-time monitoring. It includes control over the following parameters: new tariff plans, new suppliers, changes and updates in legal information, and setting out output information required by the consumers.
The entire platform was designed and developed in such a way that it is easy for the users to find the items they are looking for, perform calculations or compare service providers without interruptions to the flow. The platform offers several levels of comparison which can be used by different users not to be overwhelmed by excessive information. This module allows consumers to compare offers available in an area, together with the comparison with their current contract in terms of gains or losses. Calculations make it possible to predict or make clear calculations on the energy consumed and produce and the prices needed to pay.
sources analysed in realtime to gather necessary data
consumers are suitable for platform use
times faster process of tariff change