Global bank modernisation

Global bank modernisation

Implementing banking as a service

One of the top banks in Mexico, this global giant needed to cut costs, boost its business agility and deliver a world-class omnichannel banking experience. Working with modern technologies, DevOps methods and microservices, GFT designed a layered architecture that supports local needs, a global strategy and Banking as a service platforms.

Harnessing modern technology, Agile methods, DevOps and microservices to build a bank that is agile and future ready

Accelerate progress

Using Agile methods, DevOps and microservices to accelerate progress

Digital transformation

Bank transformation to reduce costs and boost business agility

World-class experience

Bank has implemented banking as a service and can offer a world-class omnichannel banking experience

Challenge

A legacy challenge

One of the top banks in Mexico, this global giant faced a digitalisation challenge. The technology that delivered success was outmoded, difficult to adapt and costly to maintain. Faced with rising costs and a lack of business agility, the bank needed a technology renewal that would enable it to seize the opportunities of open banking and reduce costs.

The most urgent requirement was for an integrated digital platform to support omnichannel banking with a great, consistent, user experience across all channels. This must also support the bank’s global strategy of creating common application program interfaces (APIs) for external consumption and to support internal operations.

With its wealth of banking expertise and a successful track record in digital transformation, GFT was invited to design, build and implement a strategic solution.

Engagement

Meeting global and local needs

Working with the bank’s retail division in Mexico, GFT built a digital platform, with an emphasis on reusable components. The development embraced Agile methods, DevOps, testing and microservices and included some proven GFT software assets. Combined with the GFT global delivery model, this approach enabled delivery at pace with frequent incremental releases to the highest possible standard. With microservices, individual functions could be continually refined with no impact on other components or services.

To support the bank’s global strategy, GFT designed a layered architecture. A common technology layer allows APIs to be exposed and managed across the group, while local functionality is developed through bespoke APIs. These are deployed through a common consumer layer that supports BaaS platforms.

With its unique layered architecture, the bank has freedom to deliver innovation locally. API use can be monitored, managed and controlled through local agreements to maximise the business potential of open banking and collaboration. The layered architecture also ensures that data integrity is maintained while secure access is enabled through multiple channels.

Benefit

An innovative digital bank

The successful project has accelerated the banks digitalisation strategy and created a new world of possibility. With a standardised architecture, new products and services can be launched to meet evolving customer needs and the bank can participate fully in open banking.

As part of its digital engagement strategy, the bank has launched several innovative specialist channels, for example for students, small business and private clients. New channels can be launched in around three months and the bank is leveraging the power and cost-effectiveness of digital services to attract and retain customers.

The new platform has boosted business growth – the number of digital customers in Mexico has grown fivefold, from 1 million in 2019 to 5 million in 2021. The bank is building on this success by replicating the BaaS model in global locations.