Transforming financial services: Modernizing the payment platform

Leading financial services firm’s modernized platform creates single point for digital payments

Ascendion April 17, 2023

A click, a tap and zoom – that’s the speed at which users expect banking experience. Being smooth and seamless is a prerequisite when modernizing an application or a platform. Ensuring these, we built an agile, scalable modernized money movement platform for our client.

Our client, a leading financial services firm, needed a modern platform with complete visibility for all payment transactions across all users. They had different platforms for different payment transactions on olden legacy platforms, making it challenging to offer quick access and solutions for users. IT faced challenges in continuity, and scalability due to scattered data; data analysis was time consuming.

Building a scalable platform for the future

Ascendion modernized platform for cross-business transactions – this was our primary goal. We built a common framework for digital payments ensuring business continuity, scaled refinement queries, and analyzed the existing automated testing for framework integration.

We also pushed for cloud implementation needs, working in a co-engineering model. Modernized legacy transactions using AWS cloud solution.

The results:

  • Modernized the platform for money movement providing improved transaction visibility, scalability and agility
  • Ensured business continuity with all payment transactions in one place with a scalable platform
  • Improved automated test cases with more than 80% test coverage
  • Common framework for digital payment transactions that can be reused across money movement area

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