Revolutionizing FinTech

In this piece, we chronicle the inspiring journey of Temy and MoneyTap. Starting with a visionary collaboration in 2015, we navigated cultural nuances, tech challenges, and management hurdles to build a unique FinTech application that simplified shared expenses. This tale is not just about technological innovation, but also lessons learnt, the triumph of team spirit, and nurturing new talent in a cross-cultural landscape. Welcome to our collaborative odyssey.


Location, FoundedUS, 2015

IndustryFin Tech

Partnership PeriodApr 2019 – Dec 2020

Team Size3 Software Engineer

The Advent of a Visionary Collaboration

In the bustling IT landscape of 2015, Temy, a dedicated IT solutions company, embarked on a groundbreaking collaboration with MoneyTap, the first App-based credit line provider in India. MoneyTap, with its footprint in India and the USA, envisioned a revolutionary change in the FinTech sector, turning the conventional methods of personal loans on their head. Their vision was far from ordinary: flexible, user-friendly personal loans that put the control back in the borrower’s hands. A digital credit line where borrowers decide their loan amount and only pay interest on the utilized sum.

These loans would have an interest-free balance, uphold complete transparency, and shatter the shackles of red-tapism and annoying paperwork. This was the seed of our collaboration; an ambitious vision that Temy was tasked to cultivate and nurture into a digital reality. The journey we undertook was aimed at bringing this service to everyone’s fingertips, making credit lines an everyday convenience rather than a complicated financial ordeal.

Unraveling the Intricacies of Shared Expenses

At the core of our project was an interesting concept – a digital platform that made shared expenses among friends hassle-free. For example, friends going out for dinner would no longer fret about splitting the bill evenly. The app we set out to build would facilitate this process seamlessly, ensuring everyone pays back their share in a fair and efficient manner.

However, developing such an application was far from straightforward. The challenge lay in crafting an algorithm that calculated who owes whom, based on the amount each person paid. Despite appearing simple on the surface, this was an NP-complete problem, indicating no simple solution existed. This computational complexity, combined with our client’s aspiration to create a Splitwise-like app for Indian users, made for an intriguing development journey.

The goal was ambitious, the path ahead filled with hurdles, but we at Temy, fuelled by our passion for innovation, were excited to take on the challenge.

A Cross-Cultural Team

The uniqueness of this project’s requirements called for an equally unique team. Our multi-talented crew was comprised of a Full-Stack Engineer, two Mobile Engineers, a Project Manager (PM) from our side, two seasoned Java developers, one skilled DevOps engineer, and a group of enthusiastic Indian trainees.

Utilizing a broad range of technologies such as Java, Android, iOS, Flutter, Spring Boot, AWS Beanstalk, and AWS Elastic Beanstalk, we embarked on the creation of a solution perfectly suited for our client’s needs. Navigating the cross-cultural terrain was challenging but also rewarding as it enriched our global perspective and cultural competency.

Our client’s goal of incorporating local trainees into the project was a unique approach. It offered us a great opportunity to mentor and develop new talent, while also injecting fresh perspectives into our team. It also highlighted the diversity and adaptability required to work effectively in today’s globalized world.

The Struggles Along the Way and the Lessons Learnt

Our journey with MoneyTap wasn’t always smooth. We encountered several bumps along the way. There were instances where the PM set a task one day but expected something entirely different the next. Such inconsistencies caused confusion and sometimes frustration within our team.

However, these experiences taught us invaluable lessons about effective communication and the importance of documenting every agreement to ensure everyone was on the same page. These challenges underscored the need for clear communication channels and robust project management tools to ensure smooth coordination and understanding across a diverse team.

In the later stages of the project, we experienced an unexpected shift in our roles from development to mentoring Indian trainees. This was an initiative from our Indian PM to cultivate local talent and reduce project costs. The transition was challenging as it meant juggling our development responsibilities with mentorship. However, it was a rewarding experience as we got to shape the next generation of IT professionals. This journey taught us valuable lessons about adaptability, patience, and the importance of skill transfer in the technology sector.

The Technological Triumph and Team Spirit

In the face of these challenges, we remained committed to our primary goal: delivering an innovative solution to simplify shared expenses. Our dedicated team developed a core backend algorithm capable of simplifying circular debts between individuals. This was a key innovation that significantly enhanced the app’s user experience.

We also integrated Cashfree, a prominent Indian payment system, into the app, further amplifying its functionality and making it more suited to the local market. Despite the initial hiccup we faced with the integration, we overcame the obstacle through effective collaboration with the Cashfree support team, reinforcing the power of teamwork in overcoming technical challenges.

Our journey culminated in a successful project that not only met our client’s requirements but also made headlines in the Indian news, earning MoneyTap increased market visibility and positioning them as an innovative player in the FinTech sector.

The Outcomes and Lasting Impressions

Reflecting on our journey with MoneyTap, it has undeniably been a roller coaster ride, brimming with challenges and learning opportunities, triumphs, and trials. Our team successfully delivered a solution that fundamentally changes how friends split expenses, making it a much simpler and fairer process. This project also allowed us to play a significant role in nurturing a new generation of IT professionals, contributing to the talent pool in the industry.

Our client, MoneyTap, emerged from this project with a cutting-edge product that set them apart in the market and a team of trainees equipped with enhanced skills and knowledge. On our end, the partnership with MoneyTap served as a profound lesson in managing cultural nuances in international business relationships. It also exemplified our resilience and adaptability in overcoming unexpected challenges.

Though the project has concluded, the learnings and experiences continue to resonate in our approach to future endeavors, reinforcing our commitment to delivering innovative solutions that meet our clients’ unique needs. We look forward to more such partnerships where we can leverage technology and talent to bring more groundbreaking ideas to life. Our experience with MoneyTap was an embodiment of Temy’s commitment to innovation, adaptability, and success – and we are ready to bring this dedication to all future collaborations.

Are you ready to brainstorm the next big thing?