Digital Banking Solution
for Neobank company

The banking industry is rapidly evolving, driven by the demand for digital solutions that offer convenience, security, and comprehensive financial management capabilities. Traditional banking systems, with their reliance on physical branches and manual processes, are being replaced by digital platforms that empower customers with instant access to their finances, anytime and anywhere. In this dynamic environment, our client sought to develop a cutting-edge mobile banking solution specifically designed for individual customers. The goal was to create a user-friendly, secure, and feature-rich banking service that would streamline operations, enhance customer experience, and ensure compliance with banking regulations, including AML (Anti-Money Laundering) and KYC (Know Your Customer) checks.

The digital bank was architected as a cloud-based platform leveraging modern technologies such as Java, Spring Boot, TypeScript, NextJS, React, React Native and Azure Infrastructure to deliver a robust and scalable service. In the hearth of the solution was the integration with a Core Banking System provider, enabling key features such as the issuance of virtual and physical cards, account management, peer-to-peer payments, and easy top-up and withdrawal functionalities for user accounts. To address the main challenges of integration with the Core Banking System provider and ensuring security and PCI/DSS compliance, the platform was designed with a strong emphasis on secure communication protocols and data encryption. Furthermore, all user transactions were automatically categorized using MasterCard’s merchant category codes, providing users with insights into their spending habits through convenient dashboards. The architecture included several key components:

• Neobank Mobile App: Developed using the latest mobile technologies for customer interaction.
• Admin Portal: For customer management and monitoring.
• Core Banking System: For foundational banking operations.
• KYC and KYT Providers: For regulatory compliance and transaction screening.
• Notification Provider: For communication with users.
• Customer Support Chat: For immediate assistance.

The digital bank transformed the banking experience for individuals by offering a comprehensive suite of financial tools and services accessible through a mobile app. Key outcomes included:

• Operational Efficiency: Automated processes reduced the need for manual intervention, significantly lowering operational banking costs and minimizing errors.
• Enhanced Customer Experience: The intuitive design of the Neobank Mobile App, coupled with features like transaction categorization and dashboards, empowered customers to manage their finances effectively.
• Regulatory Compliance: Integration with KYC and KYT providers ensured that the platform met all regulatory requirements, building trust with users.
• Security: Rigorous adherence to PCI/DSS standards and the implementation of advanced security protocols protected users’ financial data and transactions.

This case study demonstrates the successful delivery of a digital banking solution that not only meets the current needs of individual customers but also sets a new standard for innovation and customer service in the financial sector.