Case Study: A SaaS platform for banks

Categories: Business Insights, Case Studies Date 29-Jun-2023 3 minutes to read

Adaptable architecture: how we helped the client build a crypto platform for banks

Saas Platform For Banks

Table of contents

    Traditional banks struggle to offer services related to digital assets like cryptocurrencies, because they don’t meet the regulatory needs of traditional financial systems. Our client changes that – offering a SaaS platform that allows banks to offer digital asset services and maintain their regulatory compliance. In technical speak, our client has created a payment and value transfer rail that runs parallel to a bank’s core technology.

    The challenge: optimizing the platform for sustainable success

    The client approached us as the software partner to prepare the platform for launch. Their conditions: it must be intuitive, customer-oriented, and easy to maintain and upgrade. It also needed to be easy for banks to use from day one: a turn-key SaaS solution to enable banks to provide crypto and digital asset services in a regulatory-compliant manner.

    The team: all bases, covered

    We assembled a team of twenty strong, covering all areas from software development to project management. 

    • 3 front-end developers 
    • 3 software developers for Business Rule Engine
    • 6 software developers for integrations 
    • 4 QA engineers 
    • 1 QA Lead 
    • 1 DevOps
    • 1 System Architect
    • 1 Product Owner/Project Manager

    High-quality code and adaptable architecture

    Our partnership with our client allowed us to create a product with architecture that adapted to various integrations, including core banking systems, digital asset custodian and digital asset trading. The high-quality code we delivered helped define MVP solutions.

    Here’s what we did to get those results: 

    Fixed functionalities and improvement implementation 

    We began by identifying illogicalities, roadblocks, and areas for improvement. From there, we started fixing existing functionalities and building new ones, including custody, staking, conversion and real time payment services. The aim: create an understandable and easy-to-navigate platform to enable end-users to perform transactions (deposit, withdraw, send, request, escrow, exchange, stake, etc.) with various digital assets.

    Business Rules Engine 

    In parallel with the front- and back-end development and improvement, we started working on defining and building the Business Rules Engine – an application that enables precise decision making, combining onboarding rules, anti-money laundering rules, bank rules, MSB Rules, and the client’s rules. It’s a lot of rules.

    Quality assurance

    Right from the start, we initiated quality assurance testing, focusing on end-to-end testing, boundary value analysis, and equivalence partitioning testing. We quickly achieved our primary goal of verifying the product’s integrity.

    A look at the technologies we used:

    • Services – heavy use of Amazon AWS Cloud services like ec2, S3, Elastic beanstalk, ECS, Cognito IAM and others.
    • Front-end side – React 
    • Back-end side – Node.js 
    • Business Rule Engine – Java Spring Boot 
    • State management – Redux-Saga 
    • Database solutions – SQL, NoSQL, MS SQL and MongoDB.