Our client’s software development teams build innovative software solutions for the world’s largest financial services, manufacturing, healthcare, and retail companies. Their unique transformation service is an incremental approach to end-to-end development, allowing businesses a greater flexibility to drive technology initiatives and results.
To ensure they can test and implement new ideas quickly, the organization needed support of a software development partner. In addition, they wanted to maintain the capability to deliver high-quality code that met their needs while keeping costs low. They chose to increase their capacity by working with Scalo.
Navigating the complexities of finance
Every company that provides credit information and risk management solutions to banks and other financial institutions has a complex set of requirements that needs to be addressed by the development team with extra care.
One of the main challenges was ensuring that the delivered software solutions could verify the credibility of customers quickly and accurately. We worked on developing systems that could scan databases and other sources of information to determine whether clients or agents had any outstanding debts or credit issues. These systems also had to be secure and compliant with relevant regulations, such as GDPR.
Another challenge was to develop systems that could track the movement of stolen credit cards across the internet, including the dark web. This required the team to develop sophisticated algorithms to detect online transaction patterns and identify potential fraud cases. We also had to ensure that these systems could handle large volumes of data and operate in real-time.
In addition, we needed to modernize legacy systems and develop new functionalities for the client’s existing software. It involved working with various programming languages, frameworks, and testing tools to ensure the new functionalities were robust and reliable.
Finally, the development team had to work closely with the client’s internal IT team to ensure that the new software solutions could seamlessly integrate into the company’s existing systems. Close collaboration with IT administrators, helpdesk specialists, and front-end developers was crucial to ensure the systems were easy to use and manage.
Building a partnership
The team comprised Senior Java Developers, Business Analysts, DevOps engineers, IT administrators, helpdesk specialists, and other IT professionals with varying levels of seniority. Each developer had specific tasks and responsibilities across coding, testing, deployment, and maintenance.
What makes this engagement special is that it led to our long-term cooperation, based on mutual trust, fast responsiveness in recruitment processes, and the possibility to transfer specialists between projects.
The team had the opportunity to work with new technologies and the latest versions of frameworks. The project also allowed for 100% remote or partly remote work depending on the tech area, providing flexibility for team members to work from anywhere in the world.
Our responsibilities included:
- Developing software for verifying clients’ credibility using various parameters
- Scanning global databases for loans and debts incurred abroad
- Verifying financial institutions
- Tracking operations on stolen credit cards
- Modernizing legacy systems and incorporating new features to enhance user experience
Simpler, faster, stronger
One of the most significant benefits for the client was cost optimization. The client’s software and systems helped streamline and automate many processes, reducing the need for manual operations and freeing up resources.
In addition to cost savings, the client can benefit from better quality software. Developing KYC checks, among other features, helped reduce the time and effort required to verify the credibility of clients and agents. This simplified process resulted in faster onboarding, improving the overall user experience.
One of the essential business effects was faster implementation of new solutions and technologies. The development team was able to work quickly and efficiently, using agile methodologies and the latest tools to deliver features and enhancements on time. This allows the client to stay ahead of the competition and remain at the forefront of the industry.
Our work on the project positively impacted the company’s bottom line, operational efficiency, and competitive edge. By delivering cost savings, simplifying processes, and enabling faster implementation of new solutions and technologies, we’ve equipped our client for continued success and growth.