Industry — Fintech
Location — Chile
  • Fintech
  • KYC
  • Node.JS
  • React
  • GCP


Floid is a revolutionary Fintech startup leveraging the power of Open Finance to transform financial services in Chile. By enabling individuals and businesses to share their financial information with third parties seamlessly, Floid offers a range of services, including frictionless payment initiation, client risk assessment, income verification, bank reconciliation, and comprehensive open banking solutions. The project's founder, hailing from Sweden, chose UKAD for this venture due to our solid reputation in the Swedish market.

Floid — KYC 2


Developing Floid's platform posed several significant challenges:

  1. Regulatory Compliance: Meeting stringent banking regulations and security requirements was paramount. We had to ensure compliance with both local Chilean regulations and international standards such as GDPR.
  2. High Volume Integration: The project required integration with every major bank and credit bureau in Chile, necessitating a robust system capable of handling a high volume of transactions and data exchanges.
  3. User Experience: The platform needed to be user-friendly, providing clear and readable results for non-technical users while ensuring the process was streamlined and efficient.


Our approach to developing Floid's platform involved several key components:

  1. Modular API Development: We designed a modular API encompassing three main functionalities:
    • Payments: Enabling seamless payment reception from any account without disrupting the user flow.
    • Risk Assessment and Client Identification: Integrating BankID & KYC and ClaveUnica & KYC for thorough client verification.
    • Financial Information Products: Providing detailed income verification, asset reports, full debt analysis, and fraud checks.
  2. Bank Reconciliation: Automating the reconciliation process and integrating advanced accounting technology to streamline company operations.
  3. Open Banking: Utilizing open banking protocols to give a comprehensive view of users' financial behavior, benefiting both individuals and businesses.
  4. User-Friendly Dashboard: Developing an intuitive dashboard that presents complex data in an easily digestible format, eliminating the need for technical expertise.
  5. Secure Data Storage: Implementing anonymous data collection and storage methods to meet the highest security standards and comply with regulatory requirements.

Our solution is built on Google Cloud Platform (GCP) and utilizes Node.js for robust, scalable performance, capable of handling high workloads efficiently.

Floid — KYC 3
Floid — KYC 4


The platform has been successfully operating in production for over two years, providing immediate payment solutions and comprehensive financial services to Chilean SMEs. Key outcomes include:

  1. Enhanced Security and Compliance: Successfully navigated complex regulatory landscapes, ensuring all data processes meet stringent security and compliance standards.
  2. Seamless Integrations: Achieved integration with all major banks and credit bureaus in Chile, facilitating smooth data exchanges and operations.
  3. User Adoption and Satisfaction: The user-friendly design has garnered positive feedback from non-technical users, making financial services more accessible and efficient.
  4. Scalability and Performance: The platform handles a high volume of transactions, demonstrating the scalability and reliability of our GCP-based infrastructure.
  5. Technology Evolution: As a true R&D project, the platform underwent multiple iterations to identify and adopt the most suitable technologies, ensuring scalability, reliability, and performance.
  6. Continual Evolution: Despite being in production, the platform continues to evolve, adapting to the rapidly changing banking landscape to stay ahead of industry developments.

This project highlights UKAD's expertise in developing sophisticated fintech solutions. Our ability to deliver complex integrations, ensure regulatory compliance, and provide a user-friendly experience underscores our commitment to excellence in the fintech domain.

Technology Stack

Contact Us