Hiveterminal: Development Pipeline Heats Up

We have been quieter than usual lately. It is not just the business side that is occupied with making sure the business model is compliant with the regulation of the DACH market. The technology side of the platform is actively being transformed as well. We wanted to lift the veil on this transformation process a little, explaining some of the processes happening behind closed doors and letting our community join us for the ride.

More software development capacity
As part of our new strategy and reworked business model, one of our priorities has been to ensure that the development of new features would be an ongoing, permanent process, bringing Hiveterminal closer to the IT company at its core. Hence, we decided to engage a new software house to grow with us, dedicating additional resources to be used when needed.

This will give us a good foundation to build on the know-how we already have internally and start creating an in-house team that will take part in the development process in the future.

Extending the API functionality
Since the inception of Hiveterminal, the platform has been primarily focused on being an invoice financing platform. This means many of our components were primarily suited to be used when one buyer has set out to buy a single invoice from a single debtor.

In order to escape some of the boundaries, we have decided on rewriting part of Hiveterminal API to accommodate not just the existing functionality, but also allow space for additional verticals we see ourselves headed toward in the future.

The new API is already in the works, and with some of the underlying changes in terms of data modeling it will allow for a much wider use-case for our own needs, and also for the needs of other companies interested in rolling out a white-label version of the Hiveterminal platform on some of the markets that may be outside our mid-term to long-term focus.

New UX
The changes to the underlying API gave us the ability to reflect on the platform objectively and try to reshuffle parts of the functionality that have been hindering the (front-end) experience of our audience. The user interface that has been part of our application since its launch in 2018 was getting a bit stale and we wanted to move closer to the UX of neo-banking applications.

Deciding to rework areas of the platform has been a difficult decision, as it means we have not progressed forward as rapidly as we would have liked. But taking this step now with our new development partners will put us in a much stronger position.

Doing this now moves us closer to bringing the best and fastest liquidity solution to our end-users, offering them a variety of new functionalities in a simple, easy-to-understand-and-use interface.

As soon as some of the work we have done can be presented in sneak peek format, we will happily share it with all of you.

Until then, stay tuned.