The Client is a leading global investment banking, securities, and investment management firm.

Business Problem

The existing payments processes of the client’s treasury department were cumbersome and inefficient. The system was built on legacy tech stacks and thus was rigid to adapt enhancements

  • A payment processing product was required, which allows the client to accelerate payments integration, validation, and processing.
  • Required a reconciliation matching engine that can compare the payments and statements.
  • A generic security library was required to be developed to secure the client APIs by providing JSON web token authentication, role-based authorization, common name check, and other standard security features.
  • Develop a component that could read and write to the cloud and encrypt and decrypt data using the industry-standard encryption technologies.

Accolite Solution

  • Provided technical solutions to the payment orchestrating application by troubleshooting and resolving production issues
  • Developed settlements engine to ensure payments and settlements are in sync with each other
  • Developed a generic security library for the settlements engine APIs, and this library can be used for all future applications with similar requirements
  • Developed a loader component that provided all utility services related to cloud and data encryption.

Value Delivered

  • A scalable design that could handle 5+ million transactions per day
  • API centric platform hosted in the cloud supporting multi-currency real-time transactions.
  • Simplified billing process by reducing the line items on an invoice by almost 50%
  • The overall Payment process is simplified, faster, and more secure.

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