Technical Due Diligence – Fintech

Legacy Hotel & Residences drone photo

Challenge 

With the rapidly evolving landscape of technology, it has become increasingly crucial for businesses to stay at the forefront of innovation and security.
The lack of transparency in their technological infrastructure and processes had a significant impact on the definition of our partner’s business strategy and so, they had concerns about the adequacy of their product to the demanding reality of the Fintech/Real Estate industry.
TechRivo’s main goal, as an external and independent party, was to perform a technical due diligence to ensure a comprehensive and informed assessment of the company’s technological infrastructure and processes.

Solution

A technical due diligence is a comprehensive assessment of software tech capacities that allows teams to detect the strengths and weaknesses of a product. Usually, tech due diligence takes place in two main cases:

    • before a new round of investments or M/A for investors to get a real view of the system’s state;
    • requests by the business leadership for further product optimization and improvement.

By conducting a technical due diligence, TechRivo’s team gained a comprehensive understanding of the partner’s company current technological capabilities, potential vulnerabilities, and opportunities for improvement. This information was summed up in a detailed report that was presented to all stakeholders. This report included two main parts, one of them describing the current state of the systems, while the second proposes changes directed to reduce possible risks and conceptualize further product strategy:

    • AS-IS State: Describing the Current State of the product where it is provided a precise analysis of aspects such as product management; supporting tools; software components; SDLC; security compliance.
    • TO-BE state: Comparing the state of the client’s product at the moment with the state you need to grow to achieve your goals through such topics: gap/fit analysis and proposal of change.

After the Technical Due Diligence phase, TechRivo’s team has been working closely with our partner and has been responsible for the development of and maintenance of a platform that allows users to choose from a wide variety of high-yield products and properties to invest in. The application backend was built in Node.js, whereas React JS was the framework that better fit the required frontend performance because of its efficiency in development and improved development productivity.

Results 

TechRivo’s team provided a comprehensive analysis that equipped our partner with valuable insights into the effectiveness and efficiency of their IT operations, potential risks associated with outdated systems, and identified areas where technology could be leveraged to enhance their overall business strategy. Ultimately, the technical due diligence provided the company with the necessary information to make well-informed decisions, strengthen their competitive position, and pave the way for sustainable growth in an ever-changing digital environment.

Additionally, by implementing the suggested improvements to their processes, as well as shifting the ownership of their information, our partner was able to fully benefit from more transparency between the business and technological team.

Why TechRivo?

TechRivo’s expertise in Fintech together with an eclectic technical team, who easily adapted to our partner’s needs, provided proven suggestions of change that were successfully implemented.
By bringing previous experience both in the Fintech industry and in the Luxembourgish jurisdictions, our team was able to work side-by-side with our partner throughout the entire technical due diligence process, forging a strong partnership which is fully aligned with TechRivo’s business model.