Our client was a leading private bank, who had over the years built a reputation for leading the market with innovative products and an emphasis on customer experience.
Like most banks in Sri Lanka, the bank was using a legacy core banking system which was soon becoming a restraint as opposed to an enabler. This was because any update to the core systems by the respective vendor had a roll-over effect on applications built in-house, resulting in significant changes and painfully long delivery cycles.
This also required changes in other applications, resulting in long development and test cycles which inhibited the bank’s ability to launch new products and services.
Our solution came in at a time, when the banking industry as a whole was unaware of methods that allowed them to be more agile, and deliver changes to applications faster as demanded by the evolving market. We introduced the use of Enterprise Service Bus (ESB) as a method of accelerating application delivery
Our initiative - The first of its kind in the Sri Lankan banking sector – separated integration logic from the application logic, which allowed enhancements to delivered to the in-house developed applications and protect its functions even if the core banking system is upgraded, removing the need for long development cycles on in-house developed applications
Working with the bank’s enterprise architects we developed a modern integration architecture, exposing legacy service interfaces into modern business APIs, drastically reducing the time taken to build new functionalities in the bank’s web, mobile and other channels.
Using our solution, the bank was more flexible and had faster turnaround in onboarding foreign remittance houses – a highly profitable area where time taken to onboard was a key factor. To do this we built a common data model and an integration architecture which can be reused when onboarding different remittance houses
Asa result of the project, the bank was able to move much faster and be agile, maintaining its strong position as a market leader for innovation in the banking sector
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