eDs
Platform Modernization and Transformation for a Global Digital Payments Leader
Executive Summary
The client’s legacy system could not handle real-time transactions, scale to increasing volumes, or support diverse payment use cases on a single platform. Consequently, they were at risk of losing market share to more agile competitors and failing to meet evolving customer expectations. They partnered with Techwave to modernize their legacy systems and improve operational efficiency.
Industry
FinTech
Region Size
Global
Revenue
~ $36 Billion
Key Challenges
Volume and Access Constraints, Technology Gaps, Settlement Delays, Limited Use Case Support
Business Challenges
- Legacy system lacking modern financial technology capabilities, delaying the product’s time-to-market.
- Unable to allow direct access to billions of endpoint payment accounts due to the sheer volume of transactions.
- Prolonged transaction settlement times due to poor communication mechanisms between the platform and customers.
- Could not accommodate multiple case portfolios, including fund disbursements, P2P payments, international payments, marketplace payouts, and bill payments.
Techwave’s Strategies & Solutions
- Core Platform Optimization: Redesigned key transaction and settlement components to enhance performance, resilience, compliance validation, and intelligent routing.
- Target-State Architecture & Real-Time Enablement: Defined a future-ready architecture and enabled real-time transaction processing to accelerate settlements and improve financial operations.
- Accelerated Partner & API Ecosystem: Implemented a secure, scalable API framework to streamline onboarding, enable low-latency integration, and unlock new revenue streams.
- Payment Data Lake & Advanced Analytics: Built a unified payment data architecture to power analytics, actionable insights, and informed business decisions.
- Security, Compliance & Global Regulatory Alignment: Remediated vulnerabilities and redesigned flows to align with evolving global standards, including WTR2 and cross-border regulations.
- AI-Driven Development & Operational Transformation: Leveraged AI across the SDLC to accelerate delivery, enhance efficiency, and reduce time-to-market.
Business Outcomes Driven
Enabled stable processing of 25M+ annual transactions (2M+ monthly), supporting sustained growth and platform reliability.
Reduced transaction and settlement cycles by 50% through streamlined communication and optimized processing workflows.
Achieved 94% compliance with UK WTR2 regulations while enabling successful expansion into LATAM and Middle East markets.
Migrated to ISO 20022 (MT → MX) and automated returns and reconciliation processes to enhance interoperability and operational efficiency.
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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