Calm Finance - Documentation
Project Description
Calm Finance is meant to be a fully featured financial and banking software and solutions institution. We will cover everything from simple banking to loans, insurance and investments.
We will also offer APIs to enable the future of banking.
Purpose of Documentation
The purpose of this document, the Calm Finance - Documentation, is to establish the scope, means of development, features, definitions, acronyms and all else that is needed to accomplish the development of a prototype project. This document is intended for developers, UI and graphic designers, investors, marketers and any individual or company participating in the creation of this project. This procurement is not intended to be shared with other customers, users or any outside entity.
Scope
This document will cover the users, use cases, means of development and more. What is not included in this document is all and any text needed for the app itself (that should be created by a marketing team once the app is completed), images, graphics or any materials that are not reliant on a developer. The “Documentation” is not just this document but all the documentation attached in link format, in order to get a full understanding of the Calm Finance - Documentation, one should follow each link to fully grasp each idea and goal.
Accompanied Documents
Products
Calm Finance API
Enables most features of calm banking as well as third parties to launch their own bank
Calm Banking
Allow individuals and businesses to bank in a variety of ways.
Tax Center
Allows individuals and businesses to file taxes and send / receive tax payments using the funds from their calm bank account
Accounting
Enables businesses to manage their budgets, expenses, invites and more.
Payroll
Enables business to pay employees.
Processes
These documents will only focus on the Calm Finance API however we may reference other products as the API will be the bridge between the Backend and most of the Finance features.
Plans
The process of development will be as follows. We will separate the features and work load into two week scrums. Our first priority will be focused on personal banking and the API to facilitate third parties to request transactions. Following the success (and some revenue) from personal banking we will open two new tracks/teams to focus on business banking and crypto foundation as well as crypto banking.
Estimates
The estimates are the same as the ones from the proposal you’ve received, we will keep reporting the progress and updates on this every week.
Development Roadmap
We have outlined the roadmap we are taking to complete [Calm Finance]. This may change as issues arise, we will provide an update should that occur.
Scrum 1
Estimated Start date: July 19th, 2021
Estimated delivery date: July 29th, 2021
Calm Finance API - v0.01
In this release we will focus only on the skeleton or “core,” all the components needed to support the features to come.
We will set up the initial data structure although it may need updates as we improve the development.
Scrum 2
Estimated Start date: August 2nd, 2021
Estimated delivery date: August 12th, 2021
Calm Finance API - v0.02
Bank accounts, account details, account security, we will make sure everything about an account is developed and ready for any additional features that will be built on top.
Scrum 3
Estimated Start date: August 16th, 2021
Estimated delivery date: August 26th, 2021
Calm Finance API - v0.03
Moving money between a users own accounts and between two users
Scrum 4
Estimated Start date: August 30th, 2021
Estimated delivery date: September 9th, 2021
Calm Finance API - v0.04
Moving money in and out of Calm Finance, this will cover APIs that will enable users to send money to use using direct deposit, email transfers, debit and credit cards or any other method we can find. This will also cover any APIs we can find that will allow users to withdraw money.
Scrum 5
Estimated Start date: September 13th, 2021
Estimated delivery date: September 23rd, 2021
Calm Finance API - v0.05
This will be the first release made available to third party developers. It will still be internal access only. See the testing process for details on how we proceed from here.
No additional features will be added and all the focus will be to assist third parties using the API and fix any bugs
Scrum 6
Estimated Start date: September 27th, 2021
Estimated delivery date: October 7th, 2021
Calm Finance API - v0.06
Scrum 7
Estimated Start date: October 11th, 2021
Estimated delivery date: October 21st, 2021
Calm Finance API - v0.07
Transactions, anything related to commerce, tap and pay technology, card issuer APIs and more.
Scrum 8
Estimated Start date: October 11th, 2021
Estimated delivery date: October 21st, 2021
Calm Finance API - v0.08
Connect with open banking APIs to enable connections with mint and other accounting platforms.
Scrum 9
Estimated Start date: October 11th, 2021
Estimated delivery date: October 21st, 2021
Calm Finance API - v0.09
Investments API
Create the investment API, Connect with crypto and stock APIs to enable investment features. Create the property and assets database to allow business and property owners to sell shares of their business or property.
Scrum 10
Estimated Start date: October 11th, 2021
Estimated delivery date: October 21st, 2021
Calm Finance API - v0.1
The API and the features that are ready will be moved to private alpha, no new feature only improvements and bug fixes
Calm Banking - v0.01
Setup project and connect to API
For more details about all the features we mentioned, check out the Designer API - User Documentation and 04 Dance API - User Documentation.
Reports and metrics
We will continue reporting the project status every Friday, this way we can show you and also measure all the progress in comparison to our roadmap.
Working Paper
These documents exist to keep track of all engineers’ ideas and thoughts during project implementation. We are going to use Jira to add tasks related to any thoughts on how to solve technical issues and to each task there will be a place where the engineers can add their solutions. While it shouldn’t be the major source of information, these documents will help us to retrieve highly specific project details if needed.
Standers
All coding standards are listed in Development Documentation, but to summarize we will use the best development practices such as Clean Code and Clean Architecture to ensure that any developer who reads the code understands what it does and also to ensure that the code is well-structured and testable.
For User Interface and User Experience our strategy is to follow the UI guidelines of the platform we are currently working on (iOS, Android or web). This will allow us to spend less time on User Interface and User Experience as well as make use of some components like authentication, navigation, billing and more that we made for all projects. Another benefit of following these guidelines is that we can integrate with other applications being developed on the platform allowing us to add features and capabilities later on. Publishing the Designer API on the platform is free however there may still be transaction fees and other fees depending on the platform or third party integrations.
Calm Finance - Research
We have done extensive research, primarily technological, and we strongly suggest additional market, business and user research take place once the prototype is complete. We have outlined only the conclusions in a condensed format in this document.
User Documentation
The design we planned is mostly related to the functionality and the User Interface will be simplified because it’s meant to be a prototype. There are two User Documents, one for Dance and another for Designer API, they are 04 Dance API - Documentation and 03 Designer API - Documentation, respectively.
Development
The development details have also been excluded from this document for the purpose of greater elaboration into technical details that may not be necessary for all involved and is specifically meant for technical personnel such as UI/UX designers, developers and the project manager.
This concludes the first part of the Document. To fully understand the work that has gone into creating this document see Dance Project - Research. To have greater insight into a particular Product, see the product’s User Documentation: 04 Dance API - Documentation and 03 Designer API - Documentation. To understand the Development process, see 02 Dance Project - Development Documentation.
Approach
In order to accomplish the desired outcome we will divide this into three components and then build many products on top of this foundation.
Calm Finance Core (CFC) - Backend
CFC will be the backend and will handle all of the …
Calm Finance API (CFA)
Internal
To be used internally to create the frontend
Public
To be used by third parties to allow for transfers and more but nothing that can put users data or money at risk
Calm Coin / Cryptocurrency
In addition to working towards processing all crypto, we will create our own cryptocurrency "Calm Coin".
All transactions will take place in this currency. We will translate the value and display the users desired currency value however we will not hold and government currencies.
Apps
Calm Banking
P2P Transfers
Person to person money transfers,
Deposits
Use APIs such as string to make the purchase of Sovereign and please the value in the chosen account, (then perform the transfer) one we have a few APIs and maybe options for deposit then start focusing on local options that are free and instant (such as interact transfers in Canada)
Withdrawals
This will work very similar to deposits
Accounts
Recipes
Tap to pay
Group pay
Financial couch
Financial tips and tricks
Card issuer
Create cards (primary, card wish user permissions, limited card, etc) a card can only be assigned to one account
Budgeting
Spending limits per account, website, company, card, family member, day, date, etc.
Extended
These apps are not part of the partnership and therefore will not be billed to the client but to Calm Ventures instead
Investments
No need to create an account, important existing ones from calm banking, if the user chooses to create one it will go through calm banking API, any investment will be inside the chosen account and will show in total. Investments of any type can be placed in savings, retirement/goal and investment accounts.
Crypto
Buy crypto (use api)
Stocks
Buy stocks (use api)
Property/real estate
Buy shares into real estate
Businesses
Buy shares in private businesses
Personal assets
Users can list their personal assets like valuable paintings, cars etc