CASE STUDY

Transaction Processing Transformation

Quality Engineering & Assurance
BFSI

Project Highlights

Scope

  • Renewed the existing application to align with the ARK transformation strategy.
  • Integrated the system with the Clearing and Reconciliation System to manage transaction flows of card transactions at merchant locations.
  • Ensured seamless functionality for participant banks and improved transaction processing efficiency.

Challenges Overcome

Addressed the need for a modernised application to align with current banking standards.

Integrated the Clearing and Reconciliation System to handle complex transaction flows efficiently.

Ensured the system met participant banks' requirements while maintaining robust performance.

Business Impact

The project delivered significant improvements to the client’s operations.

System Modernisation

Integration Efficiency

Transaction Processing Speed

Collaboration Effectiveness

These advancements enabled the client to enhance transaction processing, streamline operations, and improve overall system efficiency.

The Client

The client is a prominent financial institution and a key player in the global banking sector. Renowned for its innovative approach to digital banking and customer-centric services, the client offers a wide range of financial products, including retail, corporate, and investment banking.

  • Operates an extensive network of branches and digital platforms, serving millions of customers worldwide.
  • Recognised as a leader in adopting cutting-edge technologies to enhance operational efficiency and customer experience.
  • Committed to sustainability and innovation, driving positive change in the financial industry.
BFSI-Client

The Problem

The client needed a solution to:

  • Renew the existing application to align with the ARK transformation strategy.
  • Integrate the system with the Clearing and Reconciliation System for managing card transactions.
  • Ensure the new system met participant banks' requirements while enhancing operational efficiency.

The Solution

BGTS supported the ARK transformation with a hybrid team to meet the client’s needs:

System Renewal

Updated the application to ensure alignment with modern banking standards.

Integration

Integrated the Clearing and Reconciliation System for seamless management of card transaction flows at merchant locations.

Collaboration

Worked closely with the client to ensure the new system aligned with their operational requirements and industry standards.

Team & Technology

Tech Stack Utilised

Programming Language

  • Java

Frontend

  • HTML
  • CSS
  • JavaScript

Backend

  • Spring Framework

Database

  • Microsoft SQL Server

Team Composition

6 ...

1 project manager

The Outcome

The Takasnet ARK transformation project delivered significant improvements to the client’s transaction processing system.

Modernised Application

Renewed the system to meet current banking standards.

Efficient Integration

Seamlessly integrated with the Clearing and Reconciliation System for improved transaction management.

Faster Processing

Enhanced transaction speed and reliability for card transactions at merchant locations.

Improved Collaboration

Facilitated effective collaboration among participant banks and merchant locations.

This solution empowered the client to optimise transaction processing workflows, enhance system performance, and align with evolving banking requirements.