REGARDING CLIENT'S BANKING GROUP

Customer base_icon

870.000 SME

Customer base
Retail customers_icon

19.800.000 +

Retail customers
Money_icon

$66.8 BILLION

Total assets in the first half of 2021

Business Challenge

Our client’s bank is one of the leaders in a highly competitive financial services market. Banks tussle for the customers, giving them elegant solutions and comfortable services. In 2020 banks’ competition has become fiercer due to the digitization of the world in a pandemic. So it forced our client to look for new channels, acquire new customers, and propose new services for existing customers. Messengers are one such channel.

Therefore, our client initiated the development of a new set of products.

Consequently, it was decided to launch the  Message MVP in four messengers – Telegram, Viber, WhatsApp, and Facebook Messenger.

Client’s Message’s primary purposes were to:

  • Create Bank’s digital platforms in messenger in order to attract new customers and existing ones via smartphones without the need to download apps.
  • Be introduced to and to occupy a new young digital banking target audience. Bank in messengers allows easy entrance and acceptance by generation Z.
  • Enable the embedded inclusion of partners programs.

DIGITAL BANK IN MESSENGERS DEVELOPMENT PROCESS

We started working on a digital bank in messengers for Client’s-Bank, meeting the following requirements:

EASY TO CHANGE

Our solution had to be flexible for changing flows in the short term.

SPEED OF DEVELOPMENT

It was essential to get the MVP solution in three months.

OPEN TO INTEGRATIONS

Essential to make integrations with Client’s-Bank partners (for example, popular supermarkets).

 

Building business logic and creating Proof of Concept_diagram

DIGITAL BANKING SOLUTION SCOPE

Banks in messengers have competitive benefits and thanks to them, managed to capture the customers’ attention. As a result, Client’s Bank elaborated unique features to outstand among competitors of banks in messengers with the following benefits:

  • Firstly, the solution allows their customers to get a digital card in 30 seconds.
  • The client’s banking Message should be comfortable to use for a millennial as digital banking in messengers is a challenge firstly for them because of previously developed bank habits.
  • In addition, digital bank development has to include the whole set of banking operations to reduce the need to contact via physical bank.

DIGITAL BANK KEY FEATURES DESCRIPTIONS

We delivered the following services via the digital bank in messengers solution:

CARDS ISSUING

Client’s Message consists of the issuing of Digital Tariff Cards in less than 30 seconds! Digital Tariff Card (for verified customers) requests a collection of personal user data and passport data. If owners of this card provide data, they get a limitless credit balance, a cashback from 2% to 33%, opportunity to get a plastic card.

MONEY TRANSFER

We added a feature to send money via messengers using a card number.

CARD REFILL

The end customers can top up the card with any other bank card or request a transfer via chatbot.

PAY FOR A WIDE RANGE OF SERVICES

Thanks to internal integrations, users can make payments of mobile communications, utilities, TV, Internet, and transport in messenger.

 

CARD MANAGEMENT AND SECURITY SETTINGS_image

CARD MANAGEMENT AND SECURITY SETTINGS

Users can change a password and pin-code, lock and unlock the card, check a balance in messenger and get bank details.

REFERRAL PROGRAMS AND COLLABORATIONS

Client’s Message has two referral programs which mean onboarding new bank customers and giving benefits for recommendations by current users. Also, there are partner referral programs and collaborations for the bank customers. The most popular partnerships are GameArena, Twitch, Burger King, Grushovka, and many more.

Technical Challenges We Overcame

SECURITY COMPLIANCE

Our challenge was to create a bank bot with a short customer path so that it was convenient and safe. Therefore, we introduced a simple authorization zone, which included interaction with internal banking systems API and Cerberus – which provides powerful yet simple and lightweight data validation functionality.

Above all, we used a few instruments to provide confidence of requests adding and removing clients’ and bank information: unique API keys (Keycloak) and JSON Web Token.

Also, we do not use unprotected card data or account data transfers but do so in the hidden format.

 

CORE BANK SYSTEM INTEGRATION

Most banking APIs used to use a data exchange protocol – SoPay. Nowadays the REST protocol is more commonly used. So we have created one format for the challenges and methods – REST API.
We changed the format of the convectors from XML to JSON.

Meanwhile, there was a challenge about the connection with different bank systems. Because one of them requested a connection via Log pass, another – via token generation and a system called Keycloak (which manages tokens). It was so because some modules of the internal bank system were difficult to connect.

 

BANK ARCHITECTURE CHALLENGE 

We built microservices architecture with separate modules. Such a specific construction of modules and interactions allowed to scale the solution and made software refinement more flexible.

SECURITY COMPLIANCE _image_phone

SECURITY COMPLIANCE _image_phone

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docker_logo docker_logo
JS_logo JS_logo
kubernetes _logo kubernetes _logo
nest.js_logo nest.js_logo
node.js_icon node.js_icon
Node_RED_icon Node_RED_icon
postgresql_icon postgresql_icon
react_icon react_icon
redis_icon redis_icon
redux_icon redux_icon
TypeScript_icon TypeScript_icon

TECHNOLOGIES & INTEGRATIONS

In our technical solution, we have used:

The On-Premise software program gave the bank the ability to control sensitive data.

The Microservice Architecture was created for easier integration with banking API and changing banks’ decisions (building middleware layers). We have used the following core microservices:

  • MessageAPI is responsible for delivering, adding, editing, and deleting messages.
  • CustomerAPI is responsible for saving information about users and about the referral programs.
  • WebhookAPI is responsible for incoming hooks in Node-RED.
  • APIWrapper includes ways of processing and adjacent integration systems: APIWrapper-internal for wrapping bank methods and APIWrapper-external for wrapping methods of related systems of other contractors.
  • ImageAPI is used to generate pictures, texts on pictures, documents.

Node-RED is an orchestrator of microservices that called each one in the right order to get the needed results. The benefits of Node-RED were open-source and low code development technologies; a chatbot constructor allowed us to quickly change clients’ flow and use one code for different solutions subsequently.

Natural Language Processing (NLP) helped to create an uncommon script for the communications between the customer and a digital bank in messengers (artificial intelligence).

BUSINESS RESULTS

We launched the Client’s Message solution in 8 weeks, and in less than two months from the date of issue, Client’s-Bank received:

  • Incremental in more than 40,000+ customers of digital service.
  • 10,000+ sales of banking services for Client’s Bank.
  • More external integrations with Client’s Group partners – GameArena, popular supermarkets. Read more at Digital Banking Solution Scope and Referral programs.

As a result, the whole business effect of the development was achieved thanks to the teams’ integrated partnership and joint work of 42flows.tech and Client’s Message team.

If you want to know more or have any questions, please get in touch with us at success@42flows.tech.

Wish to read more about the digital solutions of our company? You are welcome to explore our case study section. Please do not hesitate to contact us if you have any questions or remarks?

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