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ISO20022 Based Payment Product Development and Implementation for a Global Fintech Firm
Summary
The client is a leading provider of cloud payments and financial messaging solutions, serving 150 diverse clientele globally and managing trillions of dollars in daily transactions. They are leveraging innovative cloud-native payment platforms and low-code-no-code messaging solutions to help financial institutions accelerate and ease the development of financial applications.
Industry
Fintech
Size of the company
$150 Million+
Region
Europe
Key Challenges
Increased time-to-market, rigorous timelines, shortage of technical resources.
Business Challenges
The client faced several challenges that hindered their operations and expansion strategy, including:
- The client faced several challenges that hindered their operations and expansion strategy, including:
- Difficulty in adhering to rigorous timelines set by organizational clients for Payment Product Implementation
- Shortage of technical resources proficient in payment domains
Strategy & Solution
Techwave developed a bespoke solution to balance maintaining and enhancing the legacy platform to build new services, open new markets, and deliver more significant value to the client. Some of the delivery aspects involve:
- Swiftly developing low-code-no-code platform adaptors for various payment rails to enhance the client’s capabilities
- Co-developing and integrating payment products with crucial systems, streamlining their payment processes—facilitating seamless transactions
- Migrating legacy platforms to the client’s payment product for a B2B Cross Border Payment service provider, enhancing the overall operational efficiency
- Creating comprehensive training materials and collaterals covering payment domain topics to empower the client’s team with essential knowledge
Featured Technologies
Business Outcomes
By leveraging Techwave’s expertise, the client significantly improved its software development processes, leading to faster delivery, higher quality products, and increased innovation in their mobile app development. Some of the significant business impacts include:
Increased time-to-market for new payment rail adaptors on the Low-Code-No-Code platform
Increase in service delivery to meet growing market demand due to the timely release of payment rail adaptors on the Low-Code-No-Code platform
Effectively modernized and enhanced the legacy platform to streamline daily operations and meet timelines
Expansion to new markets enabled the delivery of superior services to diverse clientele
WHY TECHWAVE?
Headquartered in Houston, TX, Techwave provides Global Technology and Engineering Services and Solutions to more than 600+ clients across 5 continents. Our expertise in Data & Analytics, Software Engineering, AI/ML, Cloud Engineering Services, and Strategic Sourcing provides the end-to-end digital capabilities that empower our clients to maximize the value realization from their digital investments. Our CMMI Level 5 and ISO 9001:2015 certifications demonstrate our ability to deliver excellence to all our clients.To learn more about Techwave, please visit www.techwave.net
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