Banking Platform Integration for Large UK Fintech

Background

The Client is amongst the UK’s top 20 fintech companies and was offering a variety of financial services to small and medium enterprises by leveraging a host of 3rd party banking products. This disparate ecosystem came with a host of issues such as duplication of data, slow application processing, delays in fulfilment, loss of potential business and unhappy customers. The client needed an integrated, scalable business platform.

Coforge Approach

Coforge system integration consultants engaged with the client’s business users and product vendors to propose a lean but scalable solution. Using domain driven design concepts, a business-focused API led connectivity model incorporating on-premise and cloud services was agreed upon. This API led architecture supported immediate business needs and a foundation for long-term strategic growth with reusability central to the design for optimum ROI and to achieve the targeted service quality.

Coforge organised API focussed design workshops and mocked up API services for rapid prototyping. The full API lifecycle management of MuleSoft as a middleware integration platform suite was integrated with CICD pipelines for delivering the APIs.

Outcome

• Coforge delivered 200+ APIs in a short span of 6 months.
• The client was able to offer fully integrated services to its customers with capability to add new services in real-time, leading to improved customer satisfaction.
• The client was able to achieve its target of £500 million committed lending offers in its first year of launch and has already reached a milestone of £1 billion in loans to UK’s small and medium enterprises at the end of June 2022.