Case Study

Modernization of Commercial Digital Banking Platform with enhanced Payment Capabilities

About the Company

A global fintech and payments company with solutions for banking, global commerce, merchant acquiring, billing and payments, and point-of-sale.

Background of Business Problem

The client offers a robust commercial banking cash management product with five modules that work together to offer an integrated user experience and meets the most comprehensive business banking needs. This digital banking platform can manage Corporate E-banking, Small Business, Payables, Security and Delivery.

Client wants to enhance the current Digital Banking Platform with new features:

Our Approach & Solution

Infinite designed and developed the solution to integrate new features seamlessly into the existing Digital Banking Platform while ensuring scalability, security, and regulatory compliance.

The key features are:

New ACH Payment Alternative

Develop a new enhancement alternative for the DBP users to process International ACH Transactions (IAT) Payments, follow the NACHA standards.

High configurability

The IAT ACH Payments function was developed with great configurability, allowing the FIs to adjust and manage the IAT ACH payment to their specific needs.

UX Simplicity

Provide the same user experience existing for other payment types to Mastercard Virtual Cards.

Seamlessly Integration

The goal of this project is to be able to replace the API with no changes to UI.

Security

By using a combination of multiple security layers like exclusive white-listing, mTLS encryption and cyphers we ensure that the communication from the DPB to the Centrix API is secure.

The modernized solution enabling our client to offer a more comprehensive and competitive solution in the commercial banking cash management sector.

Business Outcomes

Improved Operational Efficiency

Streamlined Transactions

Integration of API-based Check Positive Pay (CPP) using Centrix automates decision processes, reducing manual effort and operational errors.

Enhanced Payment Processing

ACH functionality supporting International ACH Transactions (IAT) expands global payment capabilities, improving transaction speed and accuracy.

Enhanced User Experience

Unified User Interface

Maintaining consistency across payment types, including Mastercard Virtual Cards, simplifies user interaction and reduces training needs.

Configurability

New ACH payment alternative offers flexibility to financial institutions (FIs), enabling them to tailor IAT payments according to specific business requirements.

Strengthened Security Measures

Advanced Security Protocols

Implementation of exclusive white-listing, mTLS encryption, and cyphers ensures robust data protection and compliance with regulatory standards.

Competitive Advantage

Comprehensive Solution

Modernized Digital Banking Platform (DBP) enhances competitiveness by offering a comprehensive suite of features that meet diverse business banking needs.

Market Differentiation

Ability to support Mastercard Virtual Cards as a permitted payment type enhances product offering, attracting new clients and retaining existing ones.

Client Satisfaction and Retention

Improved Service Offerings

Enhanced capabilities in cash management and payment processing contribute to improved client satisfaction and retention rates.

Positive User Feedback

Simplified user experience and enhanced security measures lead to positive feedback from clients, reinforcing trust and loyalty.

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