Building Future Ready Payments Data Platform for a Leading Global Bank

Business Challenge

Client required to create a local data platform for its wholesale banking transactions as per the local regulators’ requirements.

Bank wanted a futuristic architecture having a configuration-based system for “Reporting” and “Account information” that can be deployed to other geographies having similar localization requirements.

Solution

Coforge designed and implemented SOTA architecture on GCP.

Considering vast amount of transaction data in scope, design included data sharing and replication on MongoDB.

Amended customer journey implementations, covering channel implementations and APIs to access geo specific data with no change in payment creation and authorization flows.

Redesigned transaction and advice matching process (core and advance) - 4 Matching condition, 16 advance condition and 3 MT message types (MT 940 - End of day, MT 942 Intraday, MT 999):

• Case 1: Forward Match, (Transaction First & Advice Next)
• Case 2: Reverse Match (Advice first & Transaction Next)
• Case 3: Race Condition (Both files arrive at same time)

Outcomes

• SOTA architecture capable of replication at other geographies
• Configuration driven implementation to support customer and/or account specific cutover.
• Policy compliant architecture meeting local regulator’s requirements.