Improved response time by optimizing transaction speed.
Application Development to Unlock New Financial Markets
Financial institution unlocks access to new markets through modern application development and software engineering.
Client context
The work begins with the operating reality.
Client
Our client is a large credit reporting company, specializing in global data, analytics, and technology. Working in diverse industries, this credit reporting leader helps companies make critical financial decisions. The company has over 12,000 employees.
EngagementFinancial institution unlocks access to new markets through modern application development and software engineering.
IndustryFinancial Services
SolutionsApplication Development & Modernization
The challenge
What had to change
Our client faced stricter regulations from the Federal Reserve in building its web-based corporate banking solution, with an aggressive go-to-market deadline compounding these tremendous regulatory challenges. As a result, the credit reporting leader turned to BlueAlly for the third-party expertise it needed to complete this project.
At the beginning of our collaboration with our client, BlueAlly underwent a rigorous technical interview process to prove we could build a critical banking solution on a foundation of security and accuracy. BlueAlly surpassed expectations and was awarded the project, collaborating closely with the credit reporting company’s in-house developers to deliver the solution.
The BlueAlly solution
How the work came together
BlueAlly leveraged its expertise as a Microsoft Solutions Partner to build our client’s web-based corporate banking solution. We collaborated with the credit reporting leader to meet its technological requirements, designing and building a portfolio of key subsystems. These subsystems included an Automating Clearing House (ACH) transfer generator, a separate generator to enable wire transfers, a dynamic advertising capability, and an enhanced user interface for viewing and searching account transactions.
BlueAlly met the Federal Reserve’s stringent regulations for ACH and wire transfer capabilities. The solution’s dynamic advertising subsystem utilized customer-specific attributes, sophisticated data mining, and user-defined analysis to target diverse customer segments with product and service promotions. Lastly, the user interface of BlueAlly’s solution empowered our client’s customers with self-service capabilities, allowing customers to review recent and historical transactions while managing their accounts.
The results
What changed
BlueAlly played a pivotal role in helping the credit reporting leader release a fully functional, Microsoft-based solution to a new market faster than it could have with internal resources. The advertising subsystem enhanced the exposure of our client’s other products, generating incremental revenue and new customers. The solution’s self-service and account management capabilities also resulted in customer service cost savings and improved service levels. With BlueAlly’s expertise, our client met its aggressive go-to-market deadline and launched an agile web-based corporate banking solution that adhered to exhaustive Federal Reserve regulations, positioning the credit reporting leader for long-term cost savings, service improvements, and revenue growth.
Outcome highlights
What the client gained.
Self-service capability saved customer service costs.
Enabled long-term revenue gains and lead generation.
Capabilities built for federal regulatory compliance.
Have a similar constraint?
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