Coforge changes the game for a European bank with a mobile payments application

Challenges.

The bank faced several challenges: 

• Omnichannel Experience: The existing mobile app lacked consistency across channels, hindering customer engagement.
• PSD2 Compliance: The revised Payment Services Directive (PSD2) required Strong Customer Authentication (SCA) for all electronic payments.
• Cross-Border Functionality: The bank needed a solution that worked seamlessly across countries and languages.

Solution.

A new mobile payments application was developed for the bank as part of their next-generation banking initiative. This application, called 'One Europe,' is designed to offer banking and payment solutions to the bank's millions of clients worldwide, across countries and languages. The solution, delivered by Coforge, encompasses both web and mobile channels, ensuring a consistent user experience in line with the product strategy. The initial launch of the product took place in the UK, with future releases planned for Spain and South America. 

Key features of the newly developed mobile app include: 

• Domestic payments and transfers
  
• Payee management (both for businesses and individuals)
  
• Bill payments
  
• A money management tool for spending and analytics
  
• Quick balance access, and
  
• Secure customer authentication through multi-factor authentication 
  Additionally, the app offers aggregation services, enabling users to link other financial products for open-banking aggregation. It also includes features like card control, e-statements, chat functionality, and the ability to view standing orders and direct debits. 

On the web channel: 

• Users can make international payments 
  
• Manage standing orders and direct debits, and  
  
• Utilize CHAPS payments for corporate customers. 

Coforge also provides Testing as a Service for the banking and payments programs. They have achieved an impressive test automation coverage of approximately 90%, offering security penetration testing, physical device testing, and have established a Cloud mobile device lab to enhance coverage. 

Delivery and Engagement model: 

• The delivery and engagement model for this program follows the SAFe Agile methodology, with Agile Release Trains focusing on sub-value streams. 
  
• Coforge teams operate within a Fixed Capacity model, committing to story point and feature point deliveries in every program increment. 
  
• They maintain a 10-90% onshore-offshore team mix to provide a competitive price-per-story-point. 
  
• Best practices include strong team governance and collaboration across different locations, with frequent onsite visits by Coforge to ensure successful remote working. 
  
• The program also implements a 'follow the sun' support model to optimize costs while meeting service level agreements, and Coforge teams work closely with the client, fostering a one-team ethos.

As a result Coforge: 

• Enabled an omnichannel banking experience for consumers
  
• Established a reusable mobile application framework to streamline future rollouts in other countries
  
• Met aggressive timelines for the Minimum Viable Product (MVP) launch and PSD2 Strong Customer Authentication (SCA) compliance, and created a knowledge portal for knowledge retention and management.

The Impact

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