White Code Labs: The Financial Security Visionaries

The Quintessential Technology Source for Corporate Financial Professionals

White Code Labs: The Financial Security Visionaries

CIO VendorAndy Chaudhuri, Founder & Director
On a morning in the early 2010s, sitting in his well-lit dorm room, Andy Chaudhuri was brainstorming ideas for his latest software application. Lying in front of him was a design blueprint that would soon transition into an impactful solution. With the idea to create a truly distinctive and compelling app, Chaudhuri envisioned an ingenious future back then. Fast-forward to today, and the impetus towards blending digital strategies and creative technologies reflects in Chaudhuri’s innovative venture, White Code Labs.

The Founder and Director of White Code Labs, as he is known now, Chaudhuri had a vision from the very beginning. He mentions, “The vision was to create an impact, whether it was the Pinster app which I developed in the early stages of my career or the Emily app, which I had created four years ago.” Pinster was a new, exciting, and simple way to save and share locations of favorite places and events, with the option of saving any location, via a pin or a photo snap. On the other hand, Emily dealt with locking and unlocking of applications remotely using mobile phones. Developing Emily came as a learning curve for Chaudhuri as he became familiar with the security aspect of technology—which eventually became the stepping stone for his next venture. Chaudhuri believes that the will to create an impact is powered by his vision and the strong technical knowledge which he garnered over the years. This introduced him, as he states, “to this beautiful concept of how technology can immensely help people and enterprises.” He informs, “I saw White Code Labs as the force through which current enterprises can step up and leverage technology to fulfill their different requirements and above all, create a difference.” Today, Chaudhuri’s firm helps financial institutions to innovate in an era of rapidly evolving business imperatives and customer expectations. “Financial services firms need a secure and agile solution to integrate their applications, data, and devices seamlessly; we deliver services that provide data-driven customer interaction, centralized data analytics, and data security and privacy,” says Chaudhuri.

Targeting Niche Financial Areas

White Code Labs assists the financial services industry to overcome the unique challenges that they face due to the rising customer demands for a connected digital experience. With a strong technical background and a competent team of engineers to back them up, the firm offers an in-house solution and works as a partner to implement internal blockchain infrastructure for its clients. “When we talk about blockchain, organizations understand Bitcoin and transfer, which is just one use case of it.

Unlike most existing blockchain development firms we not only provide the most demanding blockchain solutions, but we also target on unchartered sectors such as “identity theft” and “trade finance.”

The key aspect, security, which can be improved for financial institutions in a centralized ecosystem are majorly neglected,” mentions Chaudhuri. “Banks are facing predicaments such as identity and data theft on a daily basis but are reluctant to change the way they operate. Reason: they might have to replace their infrastructure that adds to the cost overhead.” Standing on the cusp of innovation by leveraging blockchain, White Code Labs provides niche, secure, and flexible blockchain-based solutions and services to create technologically-automated processes for identity tests and money transfer. “We see blockchain as a unique and sophisticated technology, which if leveraged in a synchronized manner can produce solutions with the potential to change how banks work today,” says Chaudhuri. “Unlike other blockchain companies that provide blockchain-based solutions only to the regular marketplace, we target unchartered sectors such as identity theft and trade finance. This strategy positions us as a vertical-focused and innovative company in the financial market.”

"We are young, passionate and we are here for the long-haul and our goal is to make organizations and enterprises efficient by providing cost-effective and revenue enhancement services and solutions"

Leveraging Blockchain for Data Security

A decentralized ledger used to exchange digital currency securely, blockchain can perform transactions securely. White Code Labs leverages blockchain to offer smart contract development, smart contracts audit, private blockchain development, and wallets. The smart contracts audit solution overcomes the challenges that security flaws, misbehaviors, and inefficiencies present, which are necessary to look out for during a payment process. “Manual financial data entry can lead to numerous errors, since they are inputted in the backend, and can be hacked. But by using our solution, you can ensure that it is properly and financially audited,” adds Chaudhuri. The key differentiator that makes the company stand out among its peers is their cryptography-based, private blockchain development. Implementing it enables clients to harness and improve security.

White Code Labs also develops traditional and multi-signature wallets for security and privacy. The wallet can be implemented in a user’s private account enabling them to save money for future use. Apart from these solutions, the company also provides in-house screening and consulting.

The initial engagement process with a client begins with a consultation, where White Code Labs comprehends the client’s business model and the use case for blockchain. Next, the firm concentrates on creating a high-quality solution—that meets their requirements—and delivers it as per the schedule. Once the solution is provided, the team works with the client to train the key stakeholders on how to run and maintain it. Currently, White Code Labs is working on developing ‘Stream41’, a decentralized, live media streaming platform, based on the Ethereum blockchain technology, an application which operates on the principles and concepts of B2C public blockchain development. “Using the application, any user can harness the advantages of blockchain technology like security and instant payments,” elaborates Chaudhuri.

"We help companies to accelerate their operations by leveraging blockchain. The end goal is to make organizations efficient, transparent, and secure"

To further White Code Labs’ vision of delivering creativity, innovation, and value-driven results for its clients, the company adapts futuristic technology solutions through its innovation lab. “Blockchain has continued to permeate into applications that extend beyond the financial sector into several industries, like supply chain management, forecasting, energy, and retail and shopping,” mentions Chaudhuri.

For instance, White Code Labs aims at working with Government institutions.

“We can help companies to accelerate their operations by leveraging blockchain. The end goal is to make organizations more efficient, transparent, and secure.”

The Door to Technological Wonderland

The brainchild of Chaudhuri, White Code Labs, initially was a software development firm, providing software consulting services to SMEs and enterprises, and developing consumer software applications. With time, the company has grown and expanded its capabilities to include blockchain application development and enterprise blockchain development in its solution arsenal. Down the line, the company aims to partner with established banks to provide blockchain services. They also focus on delivering niche offerings for revenue deduction and profit enhancement for both large and small commercial banks. “We believe in constant innovation, and we value people—employees, partners, associates, and vendors—and have a strong belief that the competence that we bring has the potential to solve any quandary that our clients might have,” mentions Chaudhuri.

With the vision to create a separate venture for blockchain service and solution—Chain Innovation—White Code Labs aims to create and provide niche offerings to trade unions and commercial banks. “The goal here is to assist banks to enhance their profits by endowing them with the power of blockchain,” says Chaudhuri. Moving forward, the firm also aims to expand its geographical presence in Southeast Asia as well. “In terms of implementation, we have the know-how to deliver financial security solutions in a cost-effective manner, and this will propel us as the ultimate innovator in the financial marketplace,” concludes Chaudhuri.

- Shiv Shanker
    July 26, 2018