Building a scalable Cloud Infrastructure for a Core Banking System and integrate it with other cloud services. Meanwhile, the ecosystem had to meet stringent banking security requirements.
German SME that provides financial services for African credit unions.
The Core Banking System (CBS) that has been used has changed its pricing model which would have resulted in a cost increase unbearable by the business.
We are currently engaged in constructing the cloud infrastructure and core banking system for a client whose bespoke solution is based on Fineract. This project involves ensuring security and scalability for a seamless transition to production deployment. The system must serve 400,000 accounts for 200,000 clients, members of several hundred credit unions, ensuring no disruption during the migration of these savings and loan accounts to Fineract.
Our primary focus is on building a secure and scalable infrastructure capable of handling the demands of a large client base. By leveraging our expertise in cloud architecture and core banking systems, we are developing a solution that not only meets the immediate needs of our client but also ensures long-term reliability and performance.
As the project progresses, we anticipate achieving substantial cost reductions, potentially saving our client several hundred thousand dollars upon completion. Our approach is designed to facilitate a seamless migration process, minimizing disruption for customers and ensuring a smooth transition to the new system.
The client is not tied to their costly service provider anymore for their core-banking solution but they can build on top of Apache Fineract without spending a single dollar on license fees.
The system became more secure and scalable as well as it provides a much better performance than the original service while keeping costs low.
With our help the client migrated hundreds of thousands of accounts to Fineract with no disruption to the service.
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