Needing to diversify its business and move into previously uncharted territory, the client embarked on building a new online banking platform to serve its US customers. The objective was to scale up to $100 Billion in deposits, which would create a new borrowing source and meet 20% of the client's working capital requirement. In the solution architecture and design, an omni-channel digital user experience and a single-sign-on capability across card and banking platforms was mandated.
Innovecture worked with the client to define a technology strategy to ensure alignment of internal and external technology platforms. A technology vendor evaluation and systems integration assessment were undertaken to enable successful seamless implementation of the new core banking platform. The solution consisted of:
- Platform solution architecture design
- Migration of marketing platform
- Build a back-office operations platform from the ground up
- Implement Federated SSO across two companies
- Profile Core banking
- Technologies: Java 8, react, Microservices, Apigee .Net, SQL Server, UDB, REST,SAML 2.0, Oauth 2.0, Layer7
- $120 Million TCO savings over 5 years
- Scalable platform to support $100 Billion in deposits and a million-plus customers
- Seamless and secure login for online card and banking customers
- Enhanced customer acquisition experience
- Reduced customer attrition rate during acquisition
- Reduction in support call center volume
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