The Financial services market is a highly saturated one, and a highly competitive one. Financial services industry expects customer-centric, personalized experiences.
To meet industry expectations, financial services companies must manage data and risk when leveraging advanced technology onboarded to gain new insights and deliver truly personalized experiences for end-customers.
From the other hand, they also need to keep business compliant and cost-efficient when scaling at new markets and growing new business streams.
Payment companies have carefully monitored the rise of FinTech and the implications to their industry, and are also heavily invested in cloud technology, with 90% planning to adopt it as part of their production system by 2021.
Inaccurate executive reporting based on the cross geo and business streams financial data
Dashboard solution for generating ad-hoc executive reports based on multiple business streams and transitional data sources—near-real time
High costs for storing redundant and dark data which are used by risk management function at banks
Machine learning (ML) solution for detecting redundant and outdated files based on the file's meta-data as fundamental for cross-organization and business units data governance
Extremely time consuming and human factor risk associated with manual data extraction from diverse-origin digital documents for sales and compliance functions
Solution for on-demand access to customizable reports with up-to-date and accurate sales and compliance data extracted and aggregated from divers-origin scanned and digital documents for decisions making
Non-standardized CICD process for third-party, developed back-office applications, decreasing deployment time from months to days
Design cloud-based infrastructure to enable agile CICD environment to migrate existing back-office applications to cloud for deployment time decrease and scaling
High load on customer support services which result in low NPS and banking compliance issues
Leveraging smart algorithms and NLP for chatbots and helpdesk support for data-driven insights and compliance to enable real-time decision-making and risk mitigation
Using AWS and a multi-account strategy, the goTransverse and SoftServe teams implemented a multi-tenant SaaS solution with the ability to quickly develop and regularly update customers’ services and components without significant issues.
Different payment services providers (PSPs) integrate with the AWS hosted solution using our client's created PSP integrations. Starting from a prepared landing zone, SoftServe designed and delivered the AWS infrastructure.
Nufin Data on SoftServe chose AWS Lambda because it enabled code to run without provisioning or managing servers, which eventually presented a code storage issue. SoftServe then re-configured Lambda layers according to best practices.
An architecture assessment of existing systems identified process bottlenecks in the current cloud-architecture. During the initial phase, SoftServe defined AWS+Data architecture and implemented MVP.