In today’s highly competitive Financial Services Industry, keeping up with the latest technological advancements is critical to meet customer demands and improve operational efficiencies. To achieve this, banks and other financial institutions are embracing digital transformation, including the adoption of mobile applications that enable customers to perform transactions and access financial services on-the-go.
This case study showcases Lefko Solutions’s approach to delivering a user-friendly mobile banking application that seamlessly integrates with third-party vendors and our client’s core banking system.
The Challenge
Our client is an international banking group, based in Switzerland, that provides a range of wealth management services to its customers. As part of its digital transformation strategy, the bank decided to develop a wealth banking app for its customers. The app needed to integrate with a number of third-party applications for various functional touch points, including authentication, enrolment, and document retrieval. Additionally, the app had to be designed in a way that would be user-friendly, secure, and scalable.
Our Approach
Lefko Solutions was chosen to implement the wealth banking app. Our approach involved adopting an agile design and development methodology: we developed and demonstrated screens, integrations, and functionalities in an iterative manner, which allowed the bank to have a complete view of the changes on an incremental basis. This approach helped build confidence in the business and ensure total alignment between all interested parties of the bank.
The app was built using technology Solutions as the base. We developed and designed screens and journeys to meet the specific needs of our client. To integrate with third-party applications, we leveraged a range of technologies like SmartCore, SmartCore GED, Nevis, SharePoint, Regdata, Swisscom, F5, and Ideative-Typo 3. Our team of experts worked closely with our client team to ensure that the app met all the bank’s requirements, was user-friendly, and provided a seamless experience to the users.
Key Results
The app was designed to be scalable, user-friendly, and secure, providing our client with a modern and efficient digital channel for its wealth management services.
- The app has enabled our client to offer a more personalized and engaging experience to its customers. They can now access their portfolios and other wealth management services through the app, making it easier for them to manage their finances on the go.
- It has also helped our client to streamline its operations, reduce costs, and increase efficiency.
- In addition, the app has improved the security of the bank’s digital channels. By integrating with third-party vendors for authentication and document retrieval, the app has ensured that only authorized users have access to sensitive information.
- Finally, it helped the bank to build a closer relationship with its customers by providing them with market data – instrument price of their holdings and insights.
Technology Stack
- technology Solutions Digital Channels- Infinity
- Doc Management
- Nevis (3rd party device enrolment and authentication system)
- SharePoint (document management)
- Regdata (Tokenization Engine)
- Swisscom (OTP/SMTP system)
- F5 (Reverse proxy system)
- Ideative – Typo 3 (Press releases from MIR, News and Video Insights from the CXOs of the bank)
- Bank’s core banking system
