Payment and Cash Management
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Client and their business requirements
Our Client is a well known German based organisation in digital banking solutions. Their business and solutions are internationally certified and renowned banks for corporate and enterprise customers The client is consistently striving to innovate and accelerate its digital banking solution to cater to the evolving business needs and changing regulations of the industry.
With an increase in the pace of enhancement, the current strength of engineers was falling short and the customer was looking to augment their existing team to cope up with the changes and meet the aggressive deadlines. The client approached TatvaSoft with an idea to work on new modules as well as fix the existing issues in their product.
The client’s existing digital banking platform was to be enhanced by adding a new product in the line, “Payment & Cash Management”, and though the requirements were analyzed by its BA team, the client was looking for someone who can quickly understand the business, existing framework and can efficiently translate it to the working solution.
TatvaSoft on the basis of the client’s idea and vision successfully delivered all the modules in scope from its banking product “Payment & Cash Management”, achieving many high-level goals and tasks for boosting the client’s business.
Challenges
Our team of competent Java developers is challenged to develop innovative and high-scaled applications.
Prior to the development of “Payment & Cash Management”, the business had following prime challenges and objectives:
- To cope up with the continuously evolving business needs in the banking industry by incorporating them into their digital banking platform.
- Increase the pace of development to improve time to market, planning aggressive releases of their solutions to not only retain but also to boost their customer’s confidence.
- To faster time to market, ensure the vendor understands Agile processes in terms of scrums and sprints.
- Find an economically viable solution to extend the existing team without compromising on quality and trust.
- The technical team should understand the complex functionalities which were highly sensitive and in the purview of financial regulations.
Expertise
Tools & Technology
- JAVA
- Spring-boot
- Hibernate
- Gradle
- liquibase
- Groovy
- Angular
- Jquery
- Bootstrap
- HTML5
- CSS3
- Eclipse Luna on Ubuntu
- n-tier
- Apache Tomcat
- MySQL
Solution
TatvaSoft with their proven skills and expertise has emerged to be the best technology partner who helped the client achieve their objective of extending their digital banking solution in the most cost-effective way. Our team strictly adhered to the latest development standards followed daily stand-ups and iterative approach to ensure all the stakeholders are well informed about the progress of the development.
We have adopted the Agile methodology where our Scrum team was closely involved in sprint planning from the product backlog, preparing different Sprint charts like burn down, capacity utilization, etc. and involving retrospectives. The team also offered little extra time overlap to adjust the time zone difference and delivered the solution containing all market sought features like:
- Offers digital banking access channel
- Simplify payment processes
- Supports 200+ payment formats, and 30+ country versions
- Improve the visibility of accounts
- Efficiently manage the transactions and
- Expeditie and improve the cash positions of corporate customers
- Developed outstanding UX supporting all European languages apart from English.
- Planning the features very dynamically to check on the time to market
Result
TatvaSoft abides by solid security and quality parameters stemming from its SEI CMMI Level 3. The client has gained humongous benefits from TatvaSoft’s end-to-end development services that gave a boost to the client’s business and offered benefits such as
- Focus on core competencies.
- Cost-savings approach.
- Access to the best technological talent.
- Reduced Total Cost of Operation.
- Effectively approach to identify risks well before they become issues.
The Final Word
“TatvaSoft expertise in managing outsourced product development, combined with its deep industry knowledge with a quick learning curve enables it to offer most wide-ranging, user-friendly and comprehensive business solutions to the customer.”