One of the largest consumer banks in the US offering cards, home lending, business banking, saving/checking accounts and wealth management services, aimed to reimagine their customer journeys. They wanted to make them simple, personalized and highly contextual to the customer. To this end, they were looking to
Mphasis helped the client deal with above mentioned challenges through next-generation application development, leveraging our Front2Back™ (F2B) transformation strategy.
• Zero-based design to reimagine processes and their impact.
• Technology modernization through microservices-based development, micro frontends, Kafka events, artificial intelligence (AI) and machine learning (ML).
• Distributed event driven architecture with a shared technology stack.
• Scaled Agile with extreme automation (DevSecOps, automation and cloud adoption).
• Implementation of intelligence layer through event streaming and data lakes; separation of business logic from the legacy core.
Our solution achieved the following outcomes for the client
• 50 percent reduction in card fraud loss rate through machine learning.
• 99.95+% availability; zero planned downtime.
• Over 10% YoY growth in digital adoption.
• Increased frequency of releases – from quarterly to bi-weekly.
• Faster time-to-market (two-week releases) of new products and services.
• Improved customer satisfaction – all time high Net Promoter Score.