The Client
A prominent European bank serving millions worldwide.
Business Challenge
The bank sought to develop a new mobile payments application to provide a seamless omnichannel banking experience for its global customers while ensuring compliance with PSD2 regulations.
Coforge Solution
A new mobile payments application was developed for the bank as part of their next-generation banking initiative. This application, called 'One Europe,' is designed to offer banking and payment solutions to the bank's millions of clients worldwide, across countries and languages.
The solution, delivered by Coforge, encompasses both web and mobile channels, ensuring a consistent user experience in line with the product strategy. The initial launch of the product took place in the UK, with future releases planned for Spain and South America.
Key features of the newly developed mobile app include domestic payments and transfers, payee management (both for businesses and individuals), bill payments, a money management tool for spending and analytics, quick balance access, and secure customer authentication through multi-factor authentication. Additionally, the app offers aggregation services, enabling users to link other financial products for open-banking aggregation. It also includes features like card control, e-statements, chat functionality, and the ability to view standing orders and direct debits.
On the web channel, users can make international payments, manage standing orders and direct debits, and utilize CHAPS payments for corporate customers.
Coforge also provides Testing as a Service for the banking and payments programs. They have achieved an impressive test automation coverage of approximately 90%, offering security penetration testing, physical device testing, and have established a Cloud mobile device lab to enhance coverage.
The delivery and engagement model for this program follows the SAFe Agile methodology, with Agile Release Trains focusing on sub-value streams. Coforge teams operate within a Fixed Capacity model, committing to story point and feature point deliveries in every program increment. They maintain a 10-90% onshore-offshore team mix to provide a competitive price-per-story-point. Best practices include strong team governance and collaboration across different locations, with frequent onsite visits by Coforge to ensure successful remote working. The program also implements a 'follow the sun' support model to optimize costs while meeting service level agreements, and Coforge teams work closely with the client, fostering a one-team ethos.
Results
- Enabled an omnichannel banking experience for consumers
- Established a reusable mobile application framework to streamline future rollouts in other countries
- Meeting aggressive timelines for the Minimum Viable Product (MVP) launch and PSD2 Strong Customer Authentication (SCA) compliance, and created a knowledge portal for knowledge retention and management.
- The solution also achieved high availability and performance, with 99.9% availability and average response times of 1000ms for mobile and 700ms for online payments.
