The Client
Our client is one of the world's largest entities in the realm of banking and financial services, catering to a vast customer base of approximately 40 million individuals.
Business Challenge
The bank's outdated legacy applications, which had served for 25 years, no longer met the demands of modern, technology-driven customers. These antiquated systems offered limited functionality and failed to align with the expectations of contemporary users. Recognizing the potential risks associated with technological obsolescence, the bank initiated a Strategic Platform Modernization initiative, aiming to fully replace the legacy platform. This ambitious undertaking sought to enhance the overall user experience while mitigating the risks posed by outdated technology.
Coforge Solution
Our team became deeply involved in augmenting customer journeys across MobileX, DSP, and other digital channels. Multiple squads were mobilized to develop enhanced functionalities spanning Branch Management Back Office & Counter Terminal operations, Drop & Collect services, Mails & Banking functionalities, and more. Moreover, Coforge is integrating the bank's app with payment SDKs to ensure seamless transactions.
With over 40 technologists and domain experts, Coforge has engaged in agile scrum teams responsible for various modules. This collaborative effort adopts a two-week sprint framework to modernize, maintain, and migrate components.
One of our key endeavors is the introduction of a novel user journey within the personal mobile app, empowering users to define their investment and savings percentages under the Pots and Goals framework.
Furthermore, we are enhancing the mobile experience by integrating a Transaction Enrichment Library into the MobileX platform. This integration empowers customers to view spending patterns categorized by specific areas.
Our approach follows a "Build Once, Deploy at Scale" model, which drives the transformation of these digital channels. Our continuous value delivery strategy revolves around prioritized User Stories, developed in close collaboration with the Core Banking, Channels, Investigation, and Data Platform teams.
In addition, Coforge is actively supporting the client's journey towards banking 2.0 modernization.
Results
The enhancements introduced to the bank's digital channels have culminated in a significantly improved user experience. This has led to a surge in customer engagement with the bank's app, resulting in heightened customer retention and loyalty due to the introduction of innovative features. Additionally, these improvements have deepened the bank's understanding of customer needs whenever new functionalities are rolled out.
