<img height="1" width="1" style="display:none;" alt="" src="https://px.ads.linkedin.com/collect/?pid=4958233&amp;fmt=gif">


Currently using an in-house, monolithic payments hub engine, this bank relies on an aging tech stack. Over time, the platform has created ongoing IT support and maintainability challenges.

When faced with building or buying a new platform, the bank looked for a strategic partner that could offer payments technology expertise to support their internal teams. Having built a strong partnership on a prior project, the bank and Endava worked together on a modernized payments hub to help the bank reduce internal IT workloads, offer a better customer experience, and advance their capabilities in the market.

Support for a high-stakes decision

As the bank’s legacy hub no longer aligned with the organization’s target technology state, they needed to either modernize their current solution or rebuild—a high-stakes decision that required deep payments and technology expertise.

The bank’s main challenges included:

■ Ongoing troubleshooting for internal IT teams
■ Reliance on an aging technology stack that was costly to maintain
■ Developing capabilities to meet advanced industry standards
■ Meeting time to value expectations

Modernizing legacy systems offers tremendous opportunities to reset organizational culture and improve agility, enabling continuous transformation of the customer and employee experience.” - Prashant Desai, Principal Architect

"We wanted to enable the financial institution to retain their unique transaction experience and build for the future now, as existing and new rails require maintenance and updates. This would improve their ability to scale and respond to new trends while better controlling expenses long term." - Nicole McIntyre, Senior industry Consultant

Creating a handcrafted strategy

To help define the bank’s target state payments ecosystem, Endava developed a hybrid strategy that included building a modern payments platform in-house for existing internal rails and implementing new third-party platform capabilities. Creating the ideal strategy required a feature comparison, as well as evaluating the organization’s current technology maturity, architecture, and cloud readiness.

Endava’s approach included:

■ Evaluating the bank’s internal analysis of buying vs. building
■ Performing an in-depth review of vendor proposals
■ Reviewing current architecture, databases, and ancillary systems
■ Identifying known issues and potential for upgrades

A path to seamless payments

After understanding the bank’s goals and challenges, Endava delivered a comprehensive strategy including recommended technologies and application development scope. As the bank moves forward, the strategy will help them deliver better experiences to both employees and customers, with the goal of creating a more seamless payments system overall.

Overall, the recommended strategy will help the bank:

■ Lower operating costs
■ Improve customer experience
■ Reduce internal workloads for IT teams
■ Meet time to value expectations