What was the scope of their involvement?
OAK’S LAB created the apps for iOS and Android using JavaScript. The apps are currently in an early beta stage, so we’re controlling who is on our app. The investors that we’re onboarding are partners of our CEO and founders.
We have partnerships with our clients, and OAK’S LAB has implemented some functions to do our “know your customer” (KYC) and anti-money laundering (AML) protocols. They’ve also done some work that will allow for a multi-region onboarding flow. Each country has different regulatory landscapes that we need to tailor the onboarding flow to.
At the moment, we plan to have a UK flow, a US flow, and an India flow, and then a flow for the rest of the world. As we onboard new clients, we will look at what countries they are coming from and what the regulatory landscape is. We’ll see if it falls within one of the four flows already or make a new flow.
Once an investor onboards, they can check our listing section, scroll through different countries, and find the plots they want to invest in. It is a four-step purchase process where they look at some documents, confirm the figures, and purchase the plot.
Through the admin portal, we check that everything is in order. The app allows for ongoing plot management so we can see some of the vague financial details of what everything costs. It also has support functions as well as a live chat with our admin portal. We also have information on how it works on the app.
We need to finish off a couple of key features, and one of them is the multi-region onboarding flow. Once some of these features are complete, we will be able to go live on the App Store and Google Play Store.
What is the team composition?
We have a designated project manager and a lead engineer who I speak with every day. We also have a designer, a team of full-stack, backend, and frontend developers, and a testing team consisting of a QA person and QA technician.
How did you come to work with OAK’S LAB?
There are a few reasons we chose them. Some of our founders had worked with them before and had seen the quality of the work they produce. I went out to Prague and spent some time with them a few months ago. OAK’S LAB’s founders are fascinating people. They have worked together on 40 companies now, 20 of which were start-ups. The knowledge that they can pass on to their teams and clients is huge. I certainly learned a lot from just sitting with them. They also have a open workspace in a fantastic building in Prague.
How much have you invested in them?
We’ve spent over $350,000.
What is the status of this engagement?
We began working with them in February 2018, and the work is ongoing.
OAK'S LAB helped bring the app to market, enhance transaction flow, and grow retention and revenue. Their team excelled at project management, although frequently shifting project management platform created adoption fatigue. A true partner, they went above and beyond.