Dutch Bank's End-to-End Transformation of Corporate Payments Platform and ISO 20022 Changes

Challenges.

The bank wanted a reliable technology partner to manage the platform end to end and evolve it to meet the needs of its business. The objective was to use a global workforce to provide 24x7 support while keeping the cost low.

Solution.

• Coforge implemented the modernization of platform from legacy tech stack to ASP, Java Script. .NET in ASYSCO framework, SQL server hosted on private cloud.
• We set up an offshore development center and ITIL based Managed Service operation to provide SLA based support.
• Coforge also supported bank’s domestic & international Payments, International Cash Management, Commercial Products – Lending, Facilities, Guarantees, Collaterals, Money Market – Loans & Deposits, Account Management, Reconciliation, and Customer Reporting operations
• We created Global Billing Connection, an interface to send and receive data from bank’s Global Billing Engine. We created Global Billing Connection, an interface to send and receive data from bank’s Global Billing Engine.
• We also developed IASA security check for MT message signatures validation, payment tracking and tracing tool integration with Kafka. 
• Coforge implemented ISO20022 changes for incoming CHAPS MX payment messages. We have completed technical release for all locations and are currently forming a roadmap to convert the other MT message types to ISO20022 to align with CBPR+ timeframes

The Impact.

• Coforge ensured seamless knowledge continuity, minimized IT operational risk and met robust SLAs
• Frequent releases enabled the client to meet evolving market and regulatory needs