Banks have been dabbling with going digital-- from digitization of paperwork to the launch of “anytime, anywhere” banking solutions.
In order to remain significant in the rapidly evolving financial services ecosystem, they need razor-sharp focus on 3 key aspects - being open, working with speed, delivering personalization. As they adopt the “Composable Banking” mantra and start collaborating with niche players, they need a development platform that can provide the impetus to roll out newer personalized consumer journeys built over APIs from diverse internal and external sources.
Launch composable digital platforms quickly
Build customer engagement portals for “everyday” retail banking needs like virtual card management, deposit accounts and loan management. Create centralized dashboards and management systems for multiple accounts for corporate clients
Create modern internal user experience efficiently
Modernize internal applications like dispute management, resource management, credit and transaction history management and cash management. Launch unique modern user experiences for employees and vendors in a cost-effective way
Facilitate embedded finance for SMBs with a white-labeled platform
Use low-code to develop own
(read: white-labeled) API-inundated platforms. Enable small and medium banking players in the ecosystem to design and deliver embedded finance services backed by banking infrastructure and compliance capabilities
A leading US-based bank was looking to build a complex dispute management system with ironclad security protocols in place to collate transaction and credit history of customers. They were compiling the data manually from various systems since there were no integrations in place. Additionally, they had many challenges with internet connectivity in some parts of the country. They were looking for a solution that would auto-generate APIs and pass their vulnerability protocols while rapidly launching the application
A leading social security bank based out of the Netherlands was endeavouring to modernize its internal and external processes using WaveMaker. Additionally, the bank needed to adhere to government regulations and policies regarding insurance processes. The bank had a considerable investment in legacy applications which needed to be customized and reused cost-effectively in addition to a lean team with legacy expertise. The digital solutions needed to synchronize faster with dynamic government policies and stakeholders requirements