iBank: Online Banking

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Bank was originally founded to serve the needs of industrial companies, later, however, it grew to work with a wider client base. A continuous transformation of the bank lead to new corporate processes and procedures while initiating new lending based on strict credit criteria. This has had a dramatic impact on loan book quality, with NPLs approximately one fifth of the level of this country banking sector as a whole. By acquiring a strong consumer finance franchise it gained a strong engine of growth, but one that was based on strong systems and experience in the local market. Today, the Customer is a market oriented mid-tier bank, bringing to the market innovative products and offers, all the while having sector leading loan book quality.

On the way of reviewing the product portfolio the Customer turned to one of the international technological partners of OMERTEX, headquartered in Riga, Latvia. The goal was to create new product offers in the market to target in the retail banking segment mostly, in all income categories. As a significant part of the Customer’s program, the bank increased the number of types of self-service transactions for its customers. The new wealth management and private banking offer, relied on best-in-class solutions to ensure that the offer was up to global standards. All these transformations relied on significant behind-the-scenes changes in systems procedures and operations of the bank. As the systems grew more difficult to develop further on and support, the development pipeline was shared with OMERTEX to ensure the scalability and overall quality of the system.

OVERVIEW

  • Services:
    • Business Analysis
    • Technical Analysis
    • Functionality Development
    • Bug-fixing & Performance Improvement
    • Quality Assurance
  • Metrics:
    • Effort: 800+ man-hours
    • Start: April 30, 2015
    • Status: ONGOING
    • Market: KZ
    • Industry: Finance & Banking

CHALLENGE

  • Quickly get a thorough understanding of the system and its vast knowledge-base repository.
  • Significantly increase productivity within the content management lifecycle.
  • Effectively operate large amount of valuable banking information, e.g. accounts, bills, customer’s documents.
  • Solve challenging tasks in a short period of time with maximum quality and efficiency (SLA).

SOLUTION

As a technological platform, Java was chosen from the beginning as a concurrent, class-based, object-oriented, cross-platform, and specifically designed programming language to have as few implementation dependencies as possible. The WORA principle was extremely important at that time, however, other options were also taken into consideration. The following functionality of the system was developed successfully:

  • card, deposit, and account operations;
  • money transfers and various payments;
  • target audience proper differentiation (people and entities);
  • page personalization (UI);
  • payments, orders, and transfers templates creation workflows;
  • payments, orders, and transfers history browsing; etc.

The solution was deployed to 3 (three) important and unified versions: desktop, mobile, and terminal. Thus, the system allowed the users to perform all banking operations without any need to come to the Customer’s office.  Any device could be used as the web system supported all popular desktop browsers (e.g. Internet Explorer 9+, Firefox, Opera, Chrome, Edge) and mobile browsers (Safari, Chrome, etc.).

OUTCOME

By partnering with OMERTEX, the outcomes became more distinct and transparent, and the Customer was able to:

  • Update the effective software development corporate collaboration practice and standards.
  • Review and reengineer bottlenecks of the system related to technology and business value.
  • Update the mitigation strategy to reduce the risk impact severity and / or probability of occurrence.
  • Update the rich transactional functionality that supports online managing of clients, accounts, orders, bills, etc.
  • Update the user experience (UX) through effective analysis of user feedback and internal bug reports.
  • Increase ROI through developing new functional requirements, thus, attracting new market opportunities.
  • Reduce the cost of supporting offline infrastructure units and restructure the financial flows.

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