How We Built an Ideal Financial Advisory App with ASP.NET?

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Today, institutions require effective systems for financial advisory app development services, providing consultancy to clients, handling investments, and preparing comprehensive reports. A client of ours had a financial advisory app that required real-time data access solutions, video streaming integration services, and seamless cloud integration services to meet their operational needs.

In this blog, we explore how we leveraged different technologies to create this all-encompassing application from the backend to the front end.

Overview of the Project

Three people interact with large smartphone screens displaying financial graphs, currency symbols, and gears, indicating financial technology and teamwork.

Our client is a well-known financial advisory company that wants to provide clients with convenient access to macroeconomic research, portfolio information, and investment recommendations.

The aim was to create a highly available and extensible solution with Amazon S3 integration services for storage and JW Player integration services for streaming financial advisory videos.

Key Features of the Application

Macro Research Portal: Enables clients to get current research information on the state of the economy.
Portfolio Management: A portfolio tracking and management system for clients.
Video Content Streaming: A part for sharing educational videos and market updates.

Related: What Business Leaders Need to Know About React Native App Development.

Technologies We Used

We used the following technologies:

ASP.NET MVC: ASP.NET MVC development services were adopted as the fundamental framework for building the web application. This approach allowed us to implement the model-view-controller design pattern, a cornerstone of .NET MVC development services, which helped separate concerns and accelerate development. ASP.NET MVC also offered a clear structure for handling routing, the logic of the controllers, and the views, which would allow the application to be scalable and easily maintained.
SQL Server: For storing client data, portfolio information, and research data, we implemented Microsoft SQL Server, a common choice in custom software development for financial services We were able to run complex queries and also could be assured of the security of data through encryption mechanisms that came with SQL Server.
C# .NET Framework: The application was developed using the C# .NET framework for its rich libraries for data manipulation, services integration, and security. Object-relational mapping (ORM) was done by using the Entity Framework for data access and manipulation.
JavaScript, CSS: For client-side activities, we have used JavaScript and CSS to make the web page more responsive and aesthetically appealing. These technologies were very useful in making the web app functional and also making it responsive on desktops, tablets, and smartphones.
Web API: The application leveraged Web API, aligning with best practices in enterprise application development services, for managing HTTP requests and building RESTful services. This made it possible for the app to interface with other systems such as other research databases and client-side applications.

Cloud Integration and Unique Technologies

We also used some unique technologies in this project, including:

Amazon S3: We utilized Amazon S3 integration services to save the financial firm’s large research papers and videos tailored to specific clients. Amazon S3 provided mechanisms for storage, retrieval, and management of large data sets with minimal need for infrastructure management.
JW Player: As you will see, video content is a major component of the advisory app; therefore, we incorporated JW Player for video purposes. The player enabled a smooth transition between one device and another and between one platform and another, thus improving the overall experience. The integration with Amazon S3 was useful in fetching and streaming videos without any impact on performance.
Telerik Kendo UI: To make the app’s user interface as smooth as possible we incorporated Telerik Kendo UI Controls. In this library, we were able to build high-performance web components such as data grids, charts, and other elements that enhanced the user experience for clients who interact with portfolio data and market research.
Push Notifications: We integrated Push Notifications to ensure that users receive notifications in regard to new research reports, changes in the portfolio, and market updates. These notifications were delivered to both Android and iOS devices, from the web application, to keep the clients informed of important information.

Person typing code on a Dell laptop in a cluttered workspace. Screen displays programming interface.

The Design Patterns and Development Methodologies

To maintain high standards of code quality and ensure that the application could scale with future updates, we followed several important design principles and development methodologies:

Modular Design Pattern: We used the modularity design pattern whereby the application was divided into smaller parts that could be reused. This made it possible to test solo modules, introduce new features, and maintain the app as more incorporated into it.
Separation of Concern: Every part of the application dealt with a particular task; data acquisition, processing, or presentation. The fact that the concerns were separated made it possible for developers to work in different modules at the same time without exchanging their codes.
Test-Driven Development (TDD): We used TDD from the beginning of the development cycle to the end. Before implementing each feature, we wrote tests so that the code would be functional and secure from the beginning of the project.
Responsive Design: Given that the app was to be used by a large number of clients of different ages, the use of a responsive design was inevitable. By using CSS and Telerik Kendo UI, we ensured responsive web design for financial apps, optimizing templates for various screen sizes and orientations.

Related: Why Hybrid Mobile App Development is the Future?

Challenges Encountered

Despite the project’s success, there were several challenges that we had to overcome:

Complexity in Implementation: The use of multiple services including the Salesforce WSDL Web Services, Amazon S3, and push notiﬁcation also ampliﬁed the level of development challenges. We had to make sure that these services could communicate with the core application and at the same time offer good performance and security.
Design Page Preview Limitations: We also had some challenges when developing the application, one of which was the lack of real-time design page preview. This problem emerged mainly because the frontend and backend layers were intertwined, and UI testing was slowed down as a result.
Deployment Complexity: Also, the deployment of the app was slightly a bit difficult because of the various services and cloud platforms to be used. Testing and deployment of services like Amazon S3 integration services for document storage and push notification implementation posed challenges, requiring rigorous testing to ensure proper functionality.
Legacy System Migration: Migrating data from the old legacy system to the new unified platform required expertise in legacy system migration services, ensuring smooth data transfer and improved performance. The outdated coding mechanism slowed down the website and app performance, and it was crucial to understand the underlying business logic before making enhancements. By carefully studying the old system, we were able to implement a solution that both preserved the core functionality and improved performance.
Video Streaming Performance: Video streaming was a key feature of the app, but the original system struggled to deliver high-quality content quickly. By integrating Amazon CloudFront with Amazon S3 integration services, we significantly boosted the video streaming performance of the app. CloudFront’s global content delivery network ensured that users could stream videos without buffering delays, regardless of their location.
Unified Design and User Experience: Another challenge was ensuring that the new platform offered a cohesive user experience across devices. We overcame this by using a modular design approach and making the platform fully responsive. Now, whether users access the app on their desktop or mobile device, they experience the same level of functionality and usability.

Two people using a laptop and a cell phone to view a website.

Pros and Cons of the Technology Stack

Here are the advantages and disadvantages of the technology stack:

Advantages

Modular Design and Separation of Concern: Modularity, a key principle of modular application design, made it easy to maintain and expand the application over time.
Cross-Platform Compatibility: Due to the incorporation of the responsive design frameworks, the app was developed to be compatible with both web and mobile.
Cloud Storage and Streaming: We also successfully implemented Amazon S3 to store and serve videos and documents without any infrastructure problems using JW Player.

Disadvantages

Deployment Complexity: Multiple services also made deployment a more challenging issue to address.
Design Page Preview: One of the issues was that there was no real-time design preview, which made the UI testing longer.

Where Can This Technology Be Applied?

In general, the stack and the methodologies we used for the development of the financial advisory app can be used in other industries. For instance, the combination of ASP.NET MVC, SQL Server, and Amazon S3 can be used to develop apps in:

Healthcare: For keeping electronic health records, sharing health information, and for telemedicine.
Insurance: For policies, and claims and to provide insurance products and services and advice.
Sports: In live event broadcast, athlete data management, and real-time sports analysis.

Cost of the Technology Stack

The cost of using these technologies is determined by the following factors:

ASP.NET MVC, SQL Server, and C# .NET Framework: All these technologies are from Microsoft but they are available through a license. However, they offer top-shelf enterprise support and the possibility to expand, which makes them worthwhile for large-scale applications.
Telerik Kendo UI: Kendo UI has different available licenses based on how the application will use it and it is suitable for both small and big applications.
Amazon S3: Amazon S3 has an elastic pricing structure that charges for storage and data transfer where data storage and transfer is a concern for businesses.
JW Player: Licensing with JW Player is based on features such as video hosting, analytics, and monetization features which makes it very flexible for applications with lots of media.

Related: 10 Best Places to Find iOS App Development Resources.

Conclusion

Altogether financial advisory app development was rather difficult but it was a good practice in the end. To meet the needs of the financial firm we have built a responsive, scalable, and feature-rich platform by leveraging on ASP.NET MVC, SQL Server, Amazon S3, JW Player, and Telerik Kendo UI. From cloud storage solutions for document storage to video streaming integration services and push notification implementation, this application is ideal for clients needing research data access and financial portfolio management software solutions.