E-2-E Management of Corporate Payments Platform and ISO 20022 Changes

The Client

Our client is a Dutch multinational bank providing Payments and Cash management services for corporate customers in 9 European countries viz., London, Breda, Frankfurt, Madrid, Vienna, Milan, Geneva, Lisbon & Dublin.

Business Challenge

The bank wanted a reliable technology partner to manage the platform end to end and evolve it to meet the needs of its business. The objective was to use a global workforce to provide 24×7 support while keeping the cost low.

Our Solution

  • AdfarTech implemented the modernization of platform from legacy tech stack to ASP, Java Script. .NET in ASYSCO framework, SQL server hosted on private cloud.
  • We set up an offshore development center and ITIL based Managed Service operation to provide SLA based support.
  • AdfarTech also supported bank’s domestic & international Payments, International Cash Management, Commercial Products – Lending, Facilities, Guarantees, Collaterals, Money Market – Loans & Deposits, Account Management, Reconciliation, and Customer Reporting operations
  • We created Global Billing Connection, an interface to send and receive data from bank’s Global Billing Engine.
  • We also developed IASA security check for MT message signatures validation, payment tracking and tracing tool integration with Kafka.
  • AdfarTech implemented ISO20022 changes for incoming CHAPS MX payment messages. We have completed technical release for all locations and are currently forming a roadmap to convert the other MT message types to ISO20022 to align with CBPR+ timeframes

The Result

  • AdfarTech ensured seamless knowledge continuity, minimized IT operational risk and met robust SLAs
  • Frequent releases enabled the client to meet evolving market and regulatory needs (5 major and 24 minor releases in a year)
  • 25% reduction in operating costs by leveraging an application-managed services framework and optimized onshore-offshore ratio
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