Ready to Retire: Retirement Planning App
Helping retirees be worry-free!
BTC was approached by a client wanting to build a consumer iPad application that could be used as a retirement planning tool. It would help people that are nearing retirement, plan investments and distributions from their retirement account. It would also be a handy tool for financial advisors making recommendations to their clients.
BTC helped design and build a first-of-its-kind Retirement Planning app that helps the user create a schedule of distributions that is consistent with their objectives. It also helps them monitor and keep track of their funds in accordance with the plan.
What we had to Accomplish
Intelligent financial planning and investments don’t come easy. It involves what people call ‘mind-boggling’ calculations to arrive at the best financial decisions taking into account the various factors at play – investment risks, timelines, guaranteed income, expenditure etc.
The goal of this app was to present a DIY (Do it Yourself) tool. One that performs for the user, all the rigorous mathematical calculations related to financial planning, while presenting a simple interface to help users understand the implications of their selections and decisions. And yes, also one that helps track funds and monitor the plan in real-time.
Concealing the complexity of the back-end calculations and designing a front-end workflow that made it very easy even for a layman to carry out retirement planning independently, was one of the key challenges in this project.
How we made it happen
BTC worked with the client to understand the underlying financial concepts at a granular level and design the workflows and screens of the app accordingly. We collaborated with the client in several meetings and detailed out every single user input, calculation, display field and data storage aspect to ensure that the app turned out to do everything the client had envisioned.
The development team at BTC spent several weeks getting the model to work as desired. After rigorous testing, the app was delivered to the client and went through a smooth Client Acceptance Test that culminated in successful app sign-off.
What we Built
Our talented team of designers and iPad developers came up with an app that housed several interesting features making it a clear example of the advantages native apps can have over mobile web apps. Some of the features are listed below
Technology – OS, Objective-C for iPad app development, XCode, related frameworks to achieve graphical data display
The Advantage of retiring in the smartphone ERA!
Have questions about technology, platform, process, pricing? Our expert solution advisors will be glad to help you!