Client Success

Leading fintech major transforms payment experiences and drives innovation at the speed of business with AWS cloud 

Founded in 1990, the client is a global fintech and payments leader, offering best-in-class industry solutions for risk insights, identity and fraud detection, and mobile payments. The fintech helps 2,500 financial companies, government organizations, and payment businesses leverage a single integrated, real-time payment network to transform payment experiences for their customers.

The Challenge

With rapid expansion, the client needed to simplify the process for onboarding new customers in order to support the rising demand for real-time payment solutions. They also sought to minimize the chances of fraud by improving the ability to identify fraud in real-time, while enabling faster and safer payments.

 The client chose to migrate their on-prem applications and data services to AWS as an important step to modernizing their platform and drive innovation at the speed of business. Through the shift to AWS, the client sought to minimize risks arising out of delivery issues from existing infrastructure.

The Solution

The client chose Persistent as a partner that could provide a robust governance framework encompassing development, management, onboarding, and reporting to ensure visibility and reliability and take complete ownership of outcomes.

Persistent helped the client modernize their existing enterprise data platform that relied heavily on batch processing and inflexible architecture. This migration to a cloud-native AWS platform enabled the client to leverage real-time APIs.

Persistent developed an API layer to reduce the onboarding time for financial institutions and its customers by creating pre-defined bundles of capabilities for monetization. This layer also enabled a seamless data exchange between partner ecosystems, improved insights and risk models, and facilitated the detection of fraudulent activity.

Persistent executed these activities via an agile, outcome-based POD model. A purpose-built team having an optimal combination of skills, technologies and engagement models was deployed to drive end-to-end project ownership, from design, development to test automation.

The Outcome

Persistent and the client partnered to successfully meet business timelines for the project by migrating the solution to AWS on schedule and without any business disruption. This enabled over 30% cost savings over a five-year period with significant savings accruing in year one.

 With API-based capabilities, the client has shortened the new customer onboarding process while accelerating time to market for new products and features.

The transition to real-time processing put them on a path towards reducing fraud on their payment network significantly.

Technology Used
  • AWS
  • MuleSoft
  • Salesforce
  • Java
  • .Net

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