Hiring an app developer to build your next generation Microfinance business? Here are some tips on how to hire a microfinance app developer.
Building a Microfinance is an extremely data-oriented task, you could either purchase a ready-made bitcoin powered microfinance business platform script (Check HERE) and have it customized to suit your needs or you could build one from scratch.
Why should you build on the Blockchain?
The very essence of the Microfinance business is to help people who are considered as ineligible to open bank accounts. Additionally, if you are planning to setup a Cross-border microfinance platform, transferring money to people across the world would mean additional transfer related and exchange expenses which you would need to levy on the payment done. The benefit is thus reduced. In the case of blockchain, these additional expenses can be minimized to a greater extent. Choosing to build a blockchain powered money lending platform would make a lot of sense in this day and age as its the future.
If you are convinced and have chosen to implement the Blockchain based system, let’s take a look at how to hire a microfinance app developer based on these parameters.
The domain expertise
It’s the first and foremost rule of the thumb, you’re microfinance app developer should have worked on microfinance related projects before, so as to know what to implement first and then implement it. Without having the working knowledge of a microfinance related business, it would be hard for you to coordinate with them and get the best out of them. Also, building a microfinance platform requires building the system in compliance with the laws and regulations across the world. If they have previously worked on a solution like this, they would bring it up even if you have missed it during the discussion. Asking the right questions is a sign that they indeed have the experience and it would be a better experience working with them without any hassle. Now that you know the first step in How to hire a microfinance app developer, let move to the next one.
Portfolios and reference
Portfolios show the quality of their work, the extreme care they have taken to design and work on the project, having the domain experience is important, what is equally important is the implementation part of it. Without seeing a working demo of the product and a proof it would be extremely difficult to trust them. Also, asking for a reference from a customer who they have worked for would help you understand their work ethics and other details about them that you may have missed asking.
One of the key factors in our list of how to hire a microfinance developer is their promptness and openess to communicate. Are they sharing all the details without fudging? sure timezone delay matters but how frequent and inquisitive are they while asking questions about the project, are they truly exploring all the possibilities and angles that your project has or are they blindly following everything without questioning it. All these thing contribute to choosing a right microfinance app developer. Because if they simply choose to follow instructions without exploring all the possibilities, then they would expect you to give out everything detail and they may not take ownership of the project.
If you are hiring from a freelance portal such as Freelancer, upwork etc, read the reviews properly and all the aspects of the developers are laid out there as these portals expect the freelance employers to rate on their individual qualities. This helps you to determine if they suit your business.
Additionally, while picking out a microfinance app developer, assessing their skill level would determine where they stand in terms of your requirement. You could ask a developer who is a friend or could ask a consultancy to give out the test on your behalf and grade them, this ensures that nothing gets stalled due to a wrong hire. This is one of the most important steps in the How to hire a microfinance app developer guide.
The final and the important quality on How to hire a microfinance app developer guide. Attitude determines everything. Earlier, I spoke about how they should not just follow your instructions but should be willing to share their ideas, participate in discussions etc. While they may not agree with you, it is important how they put it forward and if they are wrong in their approach, they should be open to suggestions and shouldn’t be stubborn. This sums up your entire experience of working with them.
Feel free to share your thoughts on the How to hire a microfinance app developer guide. We’d love to take notes from you as well. 🙂