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 & Fintech services
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.

FortySeven - Online Digital Banking Platform (BaaS)

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
  • (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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FortySeven Software Professionals is a leading European based software development, IT staffing, IT outsourcing and IT consulting company (certified with ISO 27001, ISO 9001). We help companies from F500 and startups to fulfill missing expertise for short-term and long-term projects.

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