Case Study:

Online Digital Banking Platform (BaaS)

Challenge

A long-time customer of ours asked us to develop an online digital banking platform with the goal of implementing core banking functionality with the ability to use mobile application for iOS and Android.

Requirements to the platform included:

  • The software would have to support high peak loads
  • The software would have to have a high level of security
  • The development of cryptocurrency transactions support (BTC/ETH) for customer on-boarding

Industry

Banking and Fintech


Expertise

Mobile Application Development, Web Application Development


Technologies

React, Spring Boot, Java Spring, Node.js, MySQL

Approach

We built a custom solution ready for PCI-DSS certification (Payment Card Industry Data Security Standard) focused on security and system monitoring. We also implemented OWASP/CWE/NIST recommendations.

Result

The developed platform is providing high-quality services for its customers. The features includes:

  • New customers onboarding capabilities
  • Analyze and oversee payments,credit, and online deposits
  • Asset management
  • Accounting management
  • KYC (Know Your Customer) and AML
  • KYC (Know Your Customer) and AML
  • (Anti Money Laundering) checks
  • Administration control panel
  • Investment services
  • Integration with cryptocurrency (BTC/ETH)
  • External API for partners

The FortySeven' development team built a digital banking platform that includes all the features the customer wants, it can be used with 3rd party providers, and is secure and works with mobile iOS and Android mobile applications. It provides customers with a variety of high-quality services and mobile options and allows the bank to avoid risks by analyzing transactions.

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