Forex Bidding App

Forex Bidding App 1. Title: Forex Bidding App 2. Platform: iOS, Android and Web version of the App 3. Hosting: AWS Cloud 4. Deliverables • PHP/MySQL for backend • Hybrid Mobile App front end • Web Version Front End • Admin Module (Web version) • Mobile App and Web version built with pure HTML/JavaScript (Do not use REACT/VUE/ANGULAR etc.) • Clear and well documented source code for Backend, Mobile App, Website and Admin Frontend • MYSQL schema and objects description and documentation 5. Specific Features/Functionalities: • Forex bidding system o The system will run an algorithm that matches buy and sell requests from users based on who submitted first and the price to convert overlap. Partial conversions are possible since quantity will likely not be the same. o Admin can add/remove currency (We will provide a company’s account for each currency in the system during currency setup) o We are starting with 2 currencies (CAD and NGN) • User KYC registration o A new user needs to upload a government ID card as well as take his/her photo and confirm their email and phone number using SMS and email verification codes before full access to the platform is allowed. • User registration, login and biometrics login • Secure payment integration o Integration with Rave flutterwave for Nigerian Banks and Interac for Canadian Banks • Wallet management o Users will be able to create one wallet per currency o Users will be able to fund each wallet directly from their bank accounts o Users will be able to transfer directly from their wallets into specified or saved bank accounts • Message notifications o Admin can push broadcast or individual notifications to users for alerts, marketing, etc. o Chat can initiate chat with Admin for support, upload screenshots, etc. • Analytics and reporting of transaction history o Dashboard on home screen to display transaction volume and price trend per day/week/month/year o User can check history of personal transactions (requests, transfers etc) • Social media sharing capabilities o Ability for users to invite friends on different social media platforms to join the app 6. Use Case Scenario • User registers on App • User logins and prompted to complete KYC registration. • User can navigate the app but cannot perform transaction before completing KYC. • User completes KYC process • User creates a NGN wallet • User creates a CAD wallet • User funds one wallet by transferring money from bank account into it. E.g. user funds CAD wallet • User submits a request to convert CAD to NGN. E.g.: 1,000CAD to NGN @ 500NGN/CAD • System searches to find the oldest pending request to convert NGN to CAD at a price of 500NGN/CAD or higher • System sees a match and performs the transaction • System Reconcile fund in each users wallet • System checks the quantity remaining to know if the buyer or seller has balance left to convert • System notifies user to inform of partial conversion or conversion completed • User transfers funds from NGN account into bank account Ideal Skills and Experience: - Strong knowledge of iOS and Android app development - Proficiency in back-end system development - Experience with real-time bidding systems - Familiarity with forex trading and market data - Expertise in secure payment integration - Ability to create intuitive user interfaces - Strong communication skills for in-app messaging and chat functionality - Experience with data analytics and reporting tools - Knowledge of social media sharing APIs