Mode App

A new-breed digital finance app that allows users to buy, earn and grow crypto

Slogan

How we helped Mode to build a next-generation digital financial ecosystem connecting consumers and businesses, combining the best of payments, investment, loyalty, and digital assets to provide a suite of revolutionary financial services in one place.

Our client

Mode is a UK-based, publicly listed crypto company with an ambitious plan to revolutionize the industry. Their compelling vision goes beyond simply making Bitcoin mainstream, with a goal to deliver ground-breaking financial products that build accessibility, transparency, and credibility around digital assets and transform the way that people manage their finances.

Mode has launched a first-of-its-kind and revolutionary financial app in the UK that allows users to access GBP, EUR, and BTC accounts, and grow their digital assets, all in one place.

Industry

Fintech, blockchain

Services provided

Back-end development, full-stack web app development

Tech stack

Node.js, JavaScript, Koa, Flow, PostgreSQL, BitGo SDK, Node-schedule, AWS SNS/SQS/Lambda, Express, React, GraphQL

3rd-party services

Onfido, Twilio, BitGo, Chainalysis, Sardine.ai, Modulr, Coinbase

Dev team

Country

Since 2019

Cooperation

Learn how we help

About the project

The Mode app is a cutting-edge digital finance product that has drastically changed the way UK users interact with crypto assets. The app offers a unique experience by allowing users to earn, buy, sell, and grow their crypto portfolio all in one place. With Mode, users can also interact with external wallets and add or withdraw funds from their UK bank accounts in just a few clicks.

One of the standout features of Mode is its digital wallet that enables both the Mode balance or UK bank account for instant mobile payments. Such transactions are very quick and easy due to QR code scanning or one-click payments.

The added security of Face ID or Touch ID ensures secure protection of users' transactions.

Additionally, the app offers advanced tracking features, including real-time charts, price movement notifications, and easy transaction tracking. All of these help users easily stay on top of their crypto investments.

With its innovative features and user-friendly interface, Mode is becoming a go-to digital finance app for UK crypto enthusiasts.

Our engagement

Our core task was to develop a backend for the mobile application that would function on both Android and iOS platforms, and an admin portal – a separate web application for managing customer data, accounts, and transactions – that would be used by their customer support team to monitor data, verify transactions, provide performance results, and reconcile balances. In addition, the admin panel would support the activation and deactivation of user accounts.

Challenges

The app needed to handle a large number of transactions per second.
The application required a high level of security to protect users' assets.
The application must support multiple cryptocurrencies, which meant that the backend needed to be flexible enough to handle transactions of different types.

Features

The project contained a wide range of integrations that required realization in strict compliance with security requirements: the protection of financial data was of paramount importance.
A secure and smooth process of user registration and verification must be implemented.
A requirement to implement the capability to create crypto and fiat deposits and withdrawals and ensure support of P2P transactions for both crypto and fiat.
One of the key tasks was to implement cryptocurrency buying and selling through the application.
Referral program development required the creation of a separate bonus account for referral and reward tracking.

Solutions

Having a solution-focused and collaborative mindset, the team managed to complete back-end development on time and within the stated budget while meeting all the client's functional and non-functional requirements. The app supported high availability and high transaction usage from Mode's customers. The user registration and verification were implemented in line with the highest security standards, and without compromising on user experience. Diverse functionalities such as deposits, withdrawals, and P2P transactions were able to easily handle large amounts of data. The referral program was also implemented successfully, and the bonus account was able to track referrals and rewards accurately.

To address the challenges and implement features in the most efficient and technically proficient manner way, the team decided to use a microservices architecture, enabling scalability and effortless maintenance of different functionalities. The following technologies were used:

Node.js was used for server-side development.
Koa, a middleware framework for Node.js, was used to handle the routing and middleware functions.
Flow, a static type checker, was used to make sure that the code is error-free.
BitGO SDK, a software development kit for building Bitcoin and other digital currency applications, was used to handle transactions of different cryptocurrencies.
Node-schedule, a library for scheduling tasks in Node.js, was used to handle scheduled tasks such as transaction verifications.
PostgreSQL, a relational database management system, was used to store users’ data and transactions.
AWS SNS/SQS/Lambda were used for serverless computing and messaging services.

For the development of the admin panel, the following technology stack was used:

Node.js was used for server-side development.
TypeScript, a superset of JavaScript, was used to ensure type safety and improve code readability.
Express, a web application framework for Node.js, was used to handle the routing and middleware functions.
MongoDB, a NoSQL database, was used for data storage.
React, a JavaScript library for building user interfaces was used for the front-end development.
GraphQL, a query language for APIs, was used for the communication between the front-end and back-end.

Client success

Since its launch in February 2020, the Mode app has been downloaded over 400,000 times and has well over 100,000 active users as of the end of 2022. With 23 releases, the app has continuously evolved to provide the best user experience. The company's commitment to customer satisfaction is reflected by the fact that 70% of trading customers are repeat buyers and 70% of reviews on the Google Store and App Store are 5 stars. Mode App has a 3.7 rating on Trustpilot with 120+ reviews.

In 2021, Mode became one of the 38 crypto-assets to receive FCA registration, making the firm an active member of CryptoUK, a self-regulatory trade association. This was a significant milestone for the company as it allowed them to increase their offerings and provide more options to their customers. The implementation of the Bitcoin Cashback feature led to a 129% growth in customer purchases through the Mode app. As of 2022, Mode has 400+ brands available to shop and earn in-app Bitcoin Cashback.

The implementation of the multi-token trading functionality promises an even brighter future for Mode. No doubt that it will continue to be a key voice in the crypto industry and extend its user base significantly.

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Lviv

+24

Kharkiv

+15

Kyiv

+48

Poland

+12

Germany

+21

Lithuania

+19

Latvia

+12

Slovakia

Greece

Portugal

Netherlands

+15

Estonia

+21

Czech Republic

Andorra

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