One of the leading players in prepaid cards and corporate expense management sought to become a first-mover in delivering a set of products for corporate credit card management. Accepting challenges of scalability, security, and the variety of functionalities, Prismberry made its mission to unify these products in a single multi-tenant solution
Prismberry ensured data privacy and smooth integration with third-party providers by delivering multi-tenant applications that sped up product rollouts in partnership with various banks. Let’s understand how our experts created a suite of products centered around corporate credit card management
Here is the list of major challenges that the company faced.
Robust Scalability
The client required a secure, scalable, and reliable solution.
Financial Transaction Complexity
Financial transaction management added more complexity to the system since there was a need for higher privacy and security of data
Complex User Role Management
The system involved complex user role management to provide different users with a differentiated level of access and user interface based on their organization, associated bank, product, and role.
Integration Complexity
The solution required collaboration with different third-party providers to achieve all the goals
Compliance
The application was required to conform to regulatory compliance, like PCI-DSS, RBI guidelines, etc.
The challenge
Confidentіal Inc. faced notable challenges with their trading platform that obstructed the AI-based Hedge Fund operations, like running several scripts manually on a daily basis and the inability to provide dynamic instructions. Let’s understand the challenges the client faced with their existing system
Unscalable On-Premise Infrastructure
The platform was hosted on AWS and on-premise infrastructure. The on-premise systems lacked scalability and resilience. Besides, the system required manual intervention to start the operations daily.
Static Instructions
The absence of dynamіc іnstructіons necessіtated code modіfіcatіons for any changes, іntroducіng errors, and hіnderіng the fund’s adaptabіlіty to changіng market condіtіons
Time-Intensive Machine Learning Algorithms
The executіon of complex algorіthms proved resource-іntensіve, resulting in prolonged executіon tіmes and іncreased operatіonal costs for Confidentіal Inc.’s Hedge Fund.
Manual Trading Operations
The trading platform had complex data pipelines to pull stocker data from different reputable sources, like Yahoo Finance and Interactive Broker, and stored in a Big Query through ETL pipelines. Frequent manual scrіpt executіons on a daily basis resulted in operatіonal іneffіcіencіes, 2-3 hours to set up a system for trading operations, and required human intervention, affecting the overall relіabіlіty of tradіng operatіons
By utilizing high-tech technologies from our technology stack, our experts designed a smart solution that aimed to resolve all the complications and meet all the client’s expectations.
01. Unified Codebase Strategy
We developed a single, modular codebase to avoid duplication and simplify maintenance, allowing us to manage different products efficiently. We opted for a single codebase because the different products were heavily related to each other.
03. Multi-Tenant Application Implementation
We developed a multi-tenant application that can onboard different banks for the same product. The unified, standardized codebase has a different look, feel, and data structure for each bank.
02. Data Security and Privacy Focus
We ensured that data security and privacy practices were taken into implementation all the time due to the sensitivity associated with financial transactions
01. Unified Codebase Strategy
We developed a single, modular codebase to avoid duplication and simplify maintenance, allowing us to manage different products efficiently. We opted for a single codebase because the different products were heavily related to each other.
02. Data Security and Privacy Focus
We ensured that data security and privacy practices were taken into implementation all the time due to the sensitivity associated with financial transactions
03. Multi-Tenant Application Implementation
We developed a multi-tenant application that can onboard different banks for the same product. The unified, standardized codebase has a different look, feel, and data structure for each bank.
Results
Here’s how our solution helped the client drive growth and success.
The client launched their product suite in record time with several banks and customers.
product launch
Over 500 corporates onboarded the credit card and hybrid products.
corporates onboarded
99.99% SLA uptime was maintained at all times.
SLA uptime
Our effective and trustworthy solution has enabled partnerships with more than 10 banks
partnership
The solution adhered to all the leading industry data security regulations, like PCI-DSS and GDPR.
industry data security regulations