Case Study

Transforming Corporate Online Banking with Finacle and API-Led Architecture

Industry

Banking (Corporate Banking)

Location

Europe

Our Contributions

Channel Modernization, Platform Transformation, API & Microservices Integration

Technologies

Finacle E-Banking Suite

Coforge partnered with one of Europe’s largest banks to modernize its corporate online banking channel, supporting over 28,000 corporate customers and processing more than 30,000 payments monthly. The transformation aimed to replace legacy systems with a scalable, API-driven architecture while enhancing the customer experience across payment journeys.

By implementing the Finacle e-banking suite and integrating microservices-based APIs, Coforge enabled a future-ready digital banking platform. The transformation improved payment processing capabilities, streamlined operations, and delivered a more intuitive and efficient user experience for corporate banking clients.

Transformation Timeline

Phase 1:

Legacy system assessment and architecture design

Phase 2:

Finacle configuration and integration development

Phase 3:

Domestic payment rollout (bulk and single payments)

Phase 4:

International payments enablement and optimization

Drag

The Challenge

The bank’s existing corporate online banking channel relied on legacy systems that limited scalability, flexibility, and user experience. The need to support IT obsolescence remediation required replacing outdated applications such as Connect Payments assembly and Remessador with a modern, future-ready platform.

The bank also needed to enhance customer journeys across complex payment processes, including domestic and international payments, while ensuring seamless integration with core systems and external platforms.

Additionally, the scale of operations serving thousands of corporate clients and processing high transaction volumes required a robust, high-performance solution capable of handling diverse payment types while maintaining reliability, security, and operational efficiency.

Our Approach / Solution

Finacle-Based Channel Modernization

Implemented the Finacle e-banking suite to deliver a modern, feature-rich digital banking experience with enhanced payment capabilities.

API & Microservices Integration

Developed microservices and API-based integrations to enable seamless interaction with core banking systems and external platforms.

Comprehensive Payment Enablement

Enabled end-to-end payment journeys, including domestic (CHAPS, Faster Payments, BACS, bulk payments) and international payments (SWIFT, SEPA), along with FX and cross-currency capabilities.

Phased Implementation Strategy

Executed the transformation in phases, starting with domestic payments followed by international payments, ensuring minimal risk and smooth transition.

Expert-Led Delivery Model

Deployed a cross-functional team of business, technical, and domain experts to ensure seamless configuration, integration, testing, and ongoing support.

Partner / Technology Ecosystem

• Finacle E-Banking Suite
• API & Microservices Architecture
• Core Banking & Payment Systems

Impact to Date

30K+

Monthly Payments Processed Efficiently

28K+

Corporate Customers Supported

Improved

Payment Processing Speed & Reliability

Reduced

Legacy System Dependency