Application Development to Unlock New Financial Markets
Application Development to Unlock New Financial Markets
Our client, a large credit reporting company, leveraged internal resources to build a web-based consumer banking solution, receiving positive feedback from customers. The global credit reporting leader saw an opportunity to serve the corporate market with a similar internet banking solution. However, our client faced an aggressive go-to-market deadline and extensive regulatory requirements for developing and launching a corporate banking solution.
Due to resource limitations, the credit reporting company partnered with BlueAlly, leveraging BlueAlly’s expertise to deliver a corporate banking solution in a timely and cost-effective manner. BlueAlly built this solution within three months, meeting a seemingly impossible deadline while accommodating our client’s unique technological and regulatory requirements, enabling the credit reporting leader to unlock new vertical markets for continued business growth.
Credit Reporting Company
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 and recorded over $3 billion in revenue in 2022.
Credit Reporting Company
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 and recorded over $3 billion in revenue in 2022.
The Problem
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
BlueAlly leveraged its expertise as a Microsoft Gold Certified 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
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.
Improved Response Time
Improved response time by optimizing transaction speed.
Cost Savings
Self-service capability saved customer service costs.
Targeted Marketing
Enabled long-term revenue gains and lead generation.
Regulatory Compliance
Capabilities built for federal regulatory compliance.