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Guarantee Solution for Security Deposit

Finance Platform for Real Estate Loans

Leobit team helps an international fintech company develop an innovative approach in B2C deposit guarantee operations for the European market. It is a quick and easy cloud-based security deposit platform designed specifically for the real estate industry. The product aims to make rent secure and affordable for everyone: it’s a win-win solution for landlords protected against any financial losses and for tenants who don’t have to tie up their money in a rent deposit.

Customer Location Tallinn, Estonia

Technologies Ruby, Ruby on Rails, AWS, PostgreSQL, Sidekiq, Capistrano, HTML5, CSS3, ES6, jQuery, Bootstrap, third-party APIs

Team 2 team members


Leobit’s customer faced the problem of finding an outsourced partner with profound expertise in fintech development. They stopped collaborating with the previous vendor because of the software’s quality and failure to meet deadlines. The customer understood potential financial loss, so they had to continue development as soon as possible. Leobit easily met the customer’s requirements as our experts already have experience in financial software engineering and development. According to the initial business plan, our team took over the backlog tasks after the customer’s previous vendor and scheduled the launch date.

Working on the finance solution, Leobit’s experts had to ensure that the customer’s product aligns with the permissions needed to operate in the finance field. They successfully went through various tie-ups, meeting many standards, measures, and compliances during the development phase.

The security of data is vital to the business. High privacy and integrity of transactions or financial records with ease of use for an end-user is a principal feature. Biometric integrations, in addition to AI, bring security and user experience to a new level.

Project description

The customer’s guarantee solution is a Ruby on Rails monolith platform. Monolithic architecture and Ruby’s great ecosystem helped accelerate the development process and increase product resiliency. The application is deployed on AWS and guarantees reliable and secure storing and managing of customer data and transactions.

Throughout the development process, Leobit’s experts performed multiple integrations. For instance, they conducted third-party API integration with one of the Swedish banks. It provided the customer’s platform with access to a digital banking service that evaluates the criteria when lending a consumer loan. Onfido integration combines biometric verification with Machine learning algorithms to check whether a platform user’s identity is genuine and protects all sides of agreement against forged documents. Integrations with Twilio and Smart ID electronic identity solutions provided users of the customer’s finance system with the most secure identity authentication when logging into their accounts. Smart ID also speeds up the agreement finalizing thanks to legally recognized electroniс signatures equivalent to handwritten ones.

To detect code defects and errors earlier and isolate faults, Leobit team uses Continuous Integration practice that implies ongoing automated tests and eventually leads to development cost reduction.

Features & Functionalities

Innovative and secure approach to paying the regular rent deposit

Quick and easy online completion of the rental agreement

Protection of landlords against property damages or tenant’s failure to pay rent

100% guarantee provided by financial institutions at no cost for landlords

Money-saving rental process for tenant explained by paying a small monthly fee instead of usual rent deposit

Fully automated screening process of tenants for their qualification and credit history analysis

1–12-month coverage with a renewable lease agreement

End Users

Tenants who don’t want to tie up a lot of money in a security deposit, Landlords who are offered a third party 100% security coverage backed by licensed financial institutions, and Brokers who can receive a wider client base.


Leobit greatly contributed to the development of the company’s core product. Our experts started with nothing more than a prototype and engineered a finance solution that fully met customer’s business goals. They laid the foundation of the overall scalability and made sure that the system is ready for growth planned for the near future. Now Leobit’s developers put the finishing touches on the software finalizing it for deployment. The release date is set up for the next month.

After the launch of the first version of the solution, the customer plans to continue the partnership with Leobit and move on to the phase ІІ – development of B2B commercial operations’ functionality on the platform. Leobit’s team will also provide ongoing support for the released product and deliver new features and functionalities.