One of the Largest Privately Held Bank Subsidiaries in the US
Growing the Business With AWS and Digital-First Banking
What if... a modernized AWS API architecture could expand customer reach, improve customer loyalty, and increase ROI?
Our client is the third largest privately held bank subsidiary in the United States and offers personal, business, commercial, and wealth solutions via branch, mobile, and online banking.
Limited Personal Banking Solutions Left the Bank Trailing the Competition
Banking features that ease personal finance management, from budgeting to spending, have shifted from "nice to have" to mandatory. Today's consumer expects more from financial institutions, and banks are responding by building better, digital-first experiences.
To remain competitive, our client needed to expand its mobile online banking features and real-time data tracking capabilities. It also wanted to build its digital-first banking position by offering a wider range of online banking solutions. However, its legacy website mainframe system couldn’t provide the speed and agility that modern financial technology solutions require.
We recommended moving to AWS with a cloud-native reference architecture and API platform designed and developed to better support offer management and account origination and servicing. The modernized solution would enhance the performance and capabilities of both the bank’s website and its mobile banking application.
Investing in Success With a Modernized AWS Architecture
Our experts went to work using AWS to construct a cutting-edge cloud-native API platform to streamline the creation and management of new credit cards, simplify the account-opening process for customers, and provide real-time account management functionality.
The new reference architecture facilitates the rapid development and deployment of innovative features, such as automated and customizable personal finance tracking, that seamlessly integrate with partner websites through embedded APIs. The solution incorporates real-time functionality to cater to the demands of digital customers and enhances the overall efficiency and adaptability of the system.
With the modern architecture in place, the bank was ready to launch a new intelligent mobile banking app built entirely on AWS. The app empowers customers to control their spending and maximize savings in real time by analyzing spend patterns, setting savings challenges, and tracking total spend.
The cloud-native API platform and mobile app combine to bolster the bank’s competitive edge by enabling it to reach a wider client base and offer critical online banking functionality.
Perficient is an AWS Advanced Service Partner with the experience and capabilities our client needed to modernize and increase market share. Our secure, flexible, and scalable solutions, paired with our industry expertise, expert strategy and technology acumen, helped our client achieve its cloud transformation goal.
Results
A Modernized Banking Experience Fuels Growth
The new cloud-native API platform transformed our client’s legacy platform and established a framework that enhanced the capabilities of its mobile app. The app empowers customers with real-time spending insights and automated savings tools that give them greater control over their finances and helped drive explosive growth in customer deposits following launch.
