Case Study - Currency rate board

EverestFx is a currency exchange company, primarily conducted their business offline and handled customer inquiries through emails and phone calls. As their operations expanded, the company recognized the inefficiency of their existing customer interaction methods, especially in providing real-time pricing information.

The company was burdened by several significant challenges that hindered their customer service efficiency and operational dynamics:

Lack of online presence:
Without a company website, EverestFx lacked a vital digital platform to provide customers with essential information, resulting in a high volume of repetitive inquiries.
High volume of inquiries:
Customers lacked a direct way to access real-time currency exchange rates. A significant portion of their workload involved responding to basic questions about currency pricing, which was both repetitive and inefficient.
Complex pricing adjustments:
The company needed a flexible solution that allowed them to dynamically adjust their buying and selling prices based on their unique formulas and current market conditions.

Our software development studio was tasked with creating EverestFx' first digital platform, incorporating advanced features to address their specific needs:

Company website with dynamic price board:
We developed a comprehensive website, placing a dynamic price board prominently on the homepage. This board automatically updates currency exchange rates at specified intervals, directly reflecting prices calculated from the company's own formulas.
Customizable pricing formula interface:
The backend admin panel allows the company to set and modify their pricing formulas as market conditions change, providing them the agility needed to maintain competitive rates.
Adjustable API refresh rate:
To optimize operational costs, the backend also includes settings to adjust the frequency of API calls for real-time international currency rates, balancing accuracy with cost-effectiveness.

The development and launch of the website with its integrated dynamic price board had immediate and profound impacts:

Reduction in routine inquiries:
Routine customer inquiries dropped by approximately 80%, freeing up resources for more complex customer service and business development tasks.
Enhanced customer satisfaction:
The availability of real-time pricing information significantly improved customer satisfaction and user experience.
Operational and cost efficiency:
With the ability to adjust the currency data refresh rate, EverestFx optimized their operational costs while maintaining pricing accuracy.

ASP.NET Core MVC:
A popular and robust framework known for its scalability and performance. This choice ensures that EverestFx can easily find skilled developers for future maintenance or enhancements, due to the widespread use of this technology in the developer community.

Azure Cosmos DB:
For managing real-time data and enhancing performance, we utilized Azure Cosmos DB for caching currency rates. We specifically took advantage of the free tier of Azure Cosmos DB, which provides a cost-effective solution for caching needs, ensuring that the system remains both fast and economical.