PFL Nidhi Limited – Transforming Fintech for Mutual Benefit Finance

Founded in 2019, PFL Nidhi Limited is a Public Limited Company operating as a mutual benefit financial institution under the Nidhi Company framework in India. With the ethos of being a company “By Members, For the Members, and To the Members,” PFL Nidhi is on a mission to make savings and credit accessible, transparent, and secure for individuals across India.

PFL Nidhi offers a comprehensive suite of financial products including Fixed Deposits, Recurring Deposits, Daily Deposits, Savings Accounts, Mortgage Loans, MSME Loans, and Loans Against Fixed Deposits. Underpinning all of this is a commitment to digital innovation — making financial services simpler, smarter, and safer for every member.

CC Avenue Payment Gateway Implementation

Integrating a reliable and compliant payment gateway was a critical requirement for enabling secure online transactions. Setting up CC Avenue in both sandbox and live environments, while ensuring seamless member payment flows, posed significant technical and coordination challenges between teams.

Session Timeout on Payment Responses

Because third-party payment gateways often experience delayed server responses, browser sessions timed out before transaction confirmations could be received and properly recorded. This created data integrity risks and a disruptive experience for members attempting to pay installments online.

Real-Time Interest Rate Calculator

Calculating daily interest on Savings Account balances — and periodically (monthly, half-yearly, and yearly) for Recurring Deposit accounts — required a highly precise and automated computation engine. Withdrawal transactions further complicated the accurate real-time reflection of account balances.

Multi-Product Loan and Account Management

PFL Nidhi’s diverse product portfolio — spanning Mortgage Loans, MSME Loans, Re-Mortgage options, Savings Accounts, Recurring Deposit Accounts, Fixed Deposit Accounts, and Withdrawal functionality — needed to be unified within a single, coherent platform delivering a seamless experience for both members and administrators.

Test Case Creation for Interest Calculations

Ensuring accuracy across complex interest calculation scenarios was a substantial challenge. Building comprehensive test coverage for daily Savings Account interest and periodic RD account interest cycles (yearly, monthly, and half-yearly) demanded meticulous planning to guarantee system reliability at scale.

CC Avenue Payment Gateway Integration

Our team directly coordinated with the Kotak Mahindra Bank technical team and conducted thorough R&D for the CC Avenue Payment Gateway, implementing it across both sandbox and live environments. This ensured a fully verified, compliant, and secure payment processing infrastructure for all PFL Nidhi member transactions.

Session Resilience for Payment Flows

To resolve session timeout issues during payment processing, we implemented a robust transaction-tracking mechanism that stored the member’s log-in ID in the transaction table at the point of initiation. Upon a successful CC Avenue payment response, the system automatically re-authenticated the user — ensuring zero data loss and a seamless, uninterrupted payment journey.

Dynamic Interest Calculation Engine

We designed and implemented a master interest slab table combined with scheduled database jobs to automate daily and periodic interest calculations across all account types. Custom logic was built to ensure that withdrawal transactions were instantly and accurately reflected in real-time balance computations, maintaining complete financial accuracy for every member account.

Unified Multi-Product Financial Platform

Our development team architected a single, integrated web platform capable of handling PFL Nidhi’s full range of financial products. Each module — from loan applications and account management to installment payments and deposit tracking — was cohesively integrated, delivering a consistent and intuitive experience for members and back-office teams alike.

Comprehensive Interest Calculation Test Suite

We developed a separate database pre-populated with historical bulk data to simulate a wide range of interest calculation scenarios. From this foundation, a thorough suite of automated test cases was created and validated, covering daily, monthly, half-yearly, and annual interest computations across all product types with full accuracy prior to go-live.

The collaborative efforts of our fintech development team and PFL Nidhi resulted in a powerful, scalable, and member-centric digital platform that delivered significant, measurable outcomes:

• Seamless online payment capability was achieved, with CC Avenue fully integrated across sandbox and production environments, empowering members to pay installments and manage transactions securely from anywhere.
• Zero transaction data loss was ensured through our session resilience architecture, eliminating the risk of failed or unrecorded payments caused by third-party gateway delays, and significantly boosting member confidence.
• Fully automated, 100% accurate interest calculations were delivered across all product types — reducing manual effort, eliminating calculation errors, and building greater member trust in the platform.
• A unified, scalable financial platform was launched, consolidating PFL Nidhi’s entire product portfolio into a single system and significantly improving operational efficiency and the overall member experience.
• A production-grade, rigorously tested system went live, validated through a comprehensive test suite covering all interest calculation scenarios, setting a strong and reliable foundation for PFL Nidhi’s continued digital growth.