WORK
Simplifying Payments for Treasury
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
The Solutions
Improved efficiency
Provided technical solutions to the payment orchestrating application by troubleshooting and resolving production issues.
Optimized workflows
Developed settlements engine to ensure payments and settlements are in sync with each other.
Innovative thinking
Developed a generic security library for the settlements engine APIs, and this library can be used for all future applications with similar requirements.
Data Encryption
Developed a loader component that provided all utility services related to cloud and data encryption.
Value Delivered
API centric platform hosted in the cloud supporting multi-currency real-time transactions.
5M+
Transactions per day
50%
Reducing items on an invoice
The overall Payment process is simplified, faster, and more secure.
