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Case Studies

Bamboo

Micro-investment app with its own token and reward system, that builds user’s portfolio with round-ups, top-ups, and dollar cost averaging
  • LocationLocation
    Perth, Australia
  • IndustryIndustry
    FinTech
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About project

Bamboo Micro-investment app with its own token and reward system from Australia. You don’t need to have any investment experience to make profit on this app. It does everything for you. Bamboo helps people grow their portfolios with round-ups, top-ups, and dollar cost averaging. It links with your bank account, and makes tiny investments when you spend money. You set a comfort rounding off the amount you spend, it accumulates and invests across Bitcoin, Ethereum, Gold and Silver Standard.

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Core team

Core team of Bamboo are passionate about investing, and wanted to make it easier and more accessible for people without any crypto-experience to build their investment portfolio.

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Blake Cassidy
Chief Executive Officer
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Jim Paleo
Chief Technology Officer
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Tracey Plowman
Chief Operating Officer
Challenges

The main challenge was to make complex functionality and features easy and simple for users. All the development decisions and challenges were based on that mission. Being an eventsource project Bamboo needed to overcome hydration limitations. Because of the always-increasing number of events, the app deployment process became challenging. During deployment all events should be processed, and the more events were created - the harder and longer deployments were. And with time the extensive amount of events make it almost impossible to release new features due to the hydration time limit. So, the challenge for the TechMagic team was to find a solution for faster deployment without sacrificing app functionality and future growth. At the same time we needed to implement a Bam Reward system and Bam token.

Challenges
Backend specifics
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Multiregional app

Our backend supports 2 regions. All changes apply to both regions simultaneously. There is no latency for American nor Australian based users.

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Infrastructure as a code

All our infrastructure is fully automated and described on a code level. There is no need in any manual actions, which allows us to launch an app fast in any region in a short period of time. This means that Bamboo application can be distributed in any region.

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Latest version of all frameworks and tools

We updated to the latest version of React.native, Node.js versions, AWS CDK to keep up with trends and use newest features, and the latest security updates.

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Integration with financial platforms

We set up integrations with American service Plaid, which connects user’s financial data to an app; Sila - an ACH payment processor, which we use for moving funds between bank accounts; and Kraken USA - cryptocurrency exchanges to buy and sell crypto.

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Low latency, high availability, scalability & performance

System receives more than 50 000 events (requests) daily. For the past year we processed 15 000 000 events. That means that even enormous requests’ spike will not cause any problems even on crucial days, like Black Friday.

BAM Rewards

TechMagic team implemented the BAM Rewards program. Bamboo offers a personal token - BAM - that users can earn simply by using the app. This token operates on the Ethereum Blockchain by using its ERC20 protocol. The majority of cryptocurrency tokens in circulation today were made up with this. Bamboo chose this for its own token, because It's one of the most utilised and secure protocols available.

BAM Rewards
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Contact us to discuss all benefits of this model for your specific business.

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Integrations

We communicate with each one third-party integration provider independently to ensure the best outcome for the project.

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General

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AU region specific

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US region specific

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Work approach

The Bamboo team is spreaded throughout the World. Our part of the team is located in Ukraine. One of the developers is located in Ireland, and most of the team are Australians. 2 of backend developers from AU should be managed from Ukraine.Additionally, the PM from our side always keeps track of the tasks, to be sure that every team member, no matter where he is located and when starts his day, has everything needed from management and knows what to do. All the main communication was planned and scheduled in advance.

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Iterational Kanban

We started from classic kanban, without any links to releases. Then we practiced iteration kanban.

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Flexible approach

We maintain a flexible approach to be able to meet client’s changing needs, to meet not only technical, but business goals.

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SCRUM ceremonies

We conducted retrospectives and implemented some classic SCRUM ceremonies, including sprints when it was possible.

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Regular communications

We introduced "daily" meetings 3 times a week with the CEO and CTO of Bamboo joining.

Project outcome

Thanks to TechMagic, Bamboo was able to experience a 700% active users increase due to the new features and capability added.

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Personal crypto token BAM
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More than 20 000 active users
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BAM rewards program
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Accounting automation
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Prepared release on the US market
Our most used technologies
Snowflake
Snowflake
Jest
Jest
TypeScript
TypeScript
AWS
AWS
React
React
Node.js
Node.js
CQRS
CQRS
Quicksight
Quicksight
Event Sourcing
Event Sourcing
Amazon DynamoDB
Amazon DynamoDB
Client’s feedback
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We interviewed seven highly recommended tech consulting groups and decided to use TechMagic due to their superior systems and processes. Thanks to TechMagic, we were able to experience a 700% increase in Bamboo active users due to the new features and capability they added.

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Blake Cassidy

CEO Bamboo
FinTech
Why TechMagic
All-in-one product development
All-in-one product development

We cover the entire software product development process and provide support services afterward within the quality management system. Technical expertise allows us to cover full-cycle development, incorporating business vision at every project stage. Our experience in multiple industries makes TechMagic a reliable partner for software development outsourcing resulting in the commercial success of your product.

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High-quality software with ongoing support
High-quality software with ongoing support

As a software product development company, we create high-quality products starting from PoC or MVP development for testing your product idea to building complex enterprise software. We ensure the digital health of software solutions by providing ongoing automated testing of product features.

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Innovative solutions
Innovative solutions

We discover market trends to offer the most cost-efficient solution. Our web application development services it's not just about software engineering. It's about finding the right technology stack for your business needs and developing future-proof custom software development solutions. Custom software development backed by market research, strategy consulting, project management, and agile development process.

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Ross Kurhanskyi
VP of business development