Technology and Business Partnership with a Commercial Bank

Business challenge

As our client, a well-established corporate bank, moved forward on the path of digitalization and innovation, their strategy included involving mature engineering experts to accelerate the bank’s technological advancement. Digital transformation would give our client a greater competitive edge on the market, elasticity and resilience in crisis periods such as during the COVID-19 pandemic or in emergencies that might cause data center damage, and the foundation for the bank’s switch to a Banking-as-a-Service (BaaS) company.

Having worked with a variety of global consulting brands and business approaches, the bank’s leadership set the course for growing their own tech competence, building a strong IT infrastructure inside their organization, and making their own high-quality digital products with the help of an experienced technology partner. To support this digital transformation effort, Intellias and our client created a long-term partnership that benefits the bank with the right mix of digital banking expertise, business knowledge sharing, and the ability to innovate with momentum.

Solution delivered

Partnership highlights

From day one, Intellias contributed to building a culture of technological excellence and innovation in our client’s organization. Through continuous knowledge sharing and competence exchange, Intellias guided our client in growing their own internal functions and transformation capacity, paving the way for the bank’s digitalization.

Our experts started from establishing DevOps activities and building an IT layer and moved on to providing business and technology consulting and developing a sophisticated architecture and infrastructure for our client’s payment system. We provided expertise for the majority of the bank’s business domains for corporate clients, private individuals, and small-to-medium-sized businesses. These domains included payments, cards, lending, deposits, account management, client relationships and digital channels, and trading.

Together with our client, we came up with a well-thought-out transformation roadmap that included building IT functions, developing a new business model, structuring potential new markets, establishing change management processes, and creating a contingency plan. By following this strategy, our client managed to maintain business continuity throughout several critical emergency periods and ensure the stability of operations and services. This approach proved to be crucial for the bank’s core business and also stimulated the bank’s further digital transformation.

Innovative and secure banking products

Our client’s vision to shift from traditional corporate banking to a BaaS hub called for creating an advanced ecosystem of scalable, value-added solutions that would enable the bank to attract more customers and investments, scale to new markets, and sell their digital products to other banks and financial institutions. Intellias supported our client in transforming their technological environment by building a strong product line that has greatly reinforced the bank’s market position.

• Instant around-the-clock payment solution

Our team designed and implemented a microservices-based architecture and infrastructure for a cutting-edge payment processing platform. It provides 24/7 service availability and allows users to make transactions within 6 seconds in contrast to 45 minutes in the previous legacy system. The platform is compliant with the ISO 20022 standard and other resilience requirements of central banks.

• Corporate payment engine

We’ve developed an international corporate payment system that ensures fast automated cross-border transactions and is a cost-effective and beneficial option for enterprise clients. The system provides capabilities to rapidly onboard corporate customers, connect their subsidiaries to payment services, and reroute payments between headquarters and subsidiary companies.

• Salary platform

Our experts have built an all-in-one bank salary solution that provides exceptional visibility for bank operators and support specialists. The system allows bank staff to monitor transaction flows, payroll contracts, account activities, salary reports, and the overall payment lifecycle and guide customers all the way through the payroll process.

Apart from these digital platforms, we worked on a dozen other independent products and services that have tremendous technological value for digitizing the banking ecosystem and serve the needs of corporate, individual, and internal users.

Business outcome

As our client’s bank is rapidly growing and transforming into a digitally-driven Banking-as-a- Service company, Intellias continues to empower the bank technologically to future-proof their services and business strategies. Our long-term partnership has already brought tangible results to our client’s business:

• Accelerating the bank’s digital transformation by creating a growth strategy roadmap and building a powerful IT vertical within the organization
• Creating an ecosystem of advanced and secure banking solutions that place our client’s company on the leading edge of the competitive banking market
• Ensuring operational resilience and business continuity through well-established digital strategies, business management processes, and a contingency plan
• Providing continuous knowledge sharing and technology advisory to our client’s teams to grow their competence in technological innovation and organizational management
• Building a technological and business foundation to penetrate new markets and get investments from top industry players