Next-Generation Internet Banking Development

Working hand in hand with the client, Teamvoy designed, developed, and implemented a next-generation Internet banking platform across all product stages. We also utilized open communication, agile processes, and a strong commitment to understand the client’s needs and objectives.

Discovery Phase
One of the first things the project team decided on was to conduct a thorough discovery phase to map out the needs and objectives of the client. During this phase, Teamvoy:

• Worked with the client’s stakeholders to facilitate workshops to assess their business challenges and technical requirements.
• Developed a top-level architecture layout to enable scalability, flexibility, and security and meet the requirements for various types of banking environments.
• A roadmap to build the platform, orienting towards rapid delivery of a Minimum Viable Product (MVP).
• Recommended hybrid deployment models to optimize on-premises infrastructures with public cloud services in a cost, performance, and security-conscious way.

Design and Development
The next step was designing and developing the Internet banking platform, executed over multiple iterations. Key activities included:

• UI/UX Design: Teamvoy’s design team utilized prototypes and wireframes generated in Figma, ensuring the platform user-interface was intuitive and white-labeling ready. Creating the role started with designing a series of dashboards and then building responsive layouts for web and mobile applications.
• MVP Development: Teamvoy built the MVP in 6 months using an agile methodology. Core functions were included in the MVP: a login-secure account management system through which users could log in, view their transaction history, and manage their accounts while laying the foundation for subsequent improvements.
• Integration Work: APIs and middleware were built to allow off-the-shelf communication with multiple Core Banking Systems (CBS). This ensured that all partner banks could effortlessly integrate their unique systems with the platform.

Deployment and Testing

Once the MVP was completed, Teamvoy worked closely with the client to deploy the platform and ensure its readiness for production. During this phase:

• The system underwent extensive testing to verify the platform can withstand attacks and handle performance at scale while integrating seamlessly with partner banks’ systems.
• The organization adopted a hybrid approach toward deployment where critical components were set up on BareMetal infrastructure while non-critical functionalities were migrated onto Public Cloud services. This included a strategy of flexibility, cost efficiency, and strong security.
• The client’s group of banks was onboarded to the platform, each customer receiving bespoke support to adapt the solution to their own branding and operational requirements.

Continuous Assisting and Regular Contact

Even after the successful deployment of the platform, Teamvoy continued to support the client by:

• Delivering regular updates and new features based on input from banks and end-users.
• Improving the platform’s white-label capabilities to help ensure that partner banks could seamlessly rebrand and tailor the solution without needing further technological experience.
• Training resources, workshops, and live support empower partner banks to make the most of the platform.
• Regular security audits and maintenance ensure compliance with regulatory requirements and safeguarding against emerging cyber threats.

Key Highlights of Our Partnership

• Collaborative Development: Teamvoy provided a strong team of developers, designers, and project managers who worked closely and iteratively with the client’s internal teams to guarantee that the project stayed aligned with its business objectives.
• Agile Methodology: The project was handled via agile principles, allowing adaptability, quick delivery, and incremental improvements per client responses.
• Efficient Communication: Tasks were managed through a structured workflow with daily updates and progress tracking via shared tools and group chats, ensuring transparency and accountability at every stage.

Teamvoy created a next-gen Internet banking platform to accommodate the ambitious goals of delivering better user experience, white-label flexibility, and seamless integration with Core Banking Systems (CBS). The solution’s architecture integrated on-premises infrastructure with next-gen cloud technologies to provide a scalable, secure, and flexible platform.

User-Centric Design

• Intuitive UI/UX: It is an easy-to-use platform for web & mobile. Designed to be responsive and accessible, it facilitates seamless navigation on any device.
• Personalized Dashboards: Users benefit from real-time account summaries, transaction history, and financial insights. These elements are tailored to improve user engagement and satisfaction.
• Custom Branding: The theming system is flexible enough to allow partner banks to modify the appearance of most interface parts, such as logos, colors, and other branding items, to match their corporate identity.

White-Label Flexibility

• Customizable Toolkit: The platform includes a UIKit designed specifically for white-labeling, allowing partner banks to adapt the platform’s look and feel without extensive technical expertise.
• Admin Portal: Developed an intuitive administrative interface that enabled partner banks to manage specific platform variations, customizing themes and defining role-based access controls.

Seamless Integration

• Middleware Solution: Middleware was developed to facilitate real-time synchronization between the platform and various CBS systems, ensuring accurate and up-to-date data processing.
• API Gateway: A solid API layer helped facilitate secure communication between the banking platform and external systems, allowing for easy integration of other services such as payment gateways, alerts, and regulatory reporting.

Adaptable Architecture: We introduced API adapters to ensure that partner banks with heterogeneous CBS setups could connect to the platform without heavy custom development.