Biggest Remittances Platform

Biggest Remittances Platform

Wavelabs Fintech Case Study: Built Next Gen Remittances Platform

Built Next Gen Remittances Platform For Financial Services Partners

Designed a flexible, independent and secure Payments-Platform-as-a-Service (PPaaS) architecture that can adapt seamlessly to the varied features that the Finablr partners may require

EXECUTIVE SUMMARY

Migrated from the traditional on-premise monolithic platform to Microservices-based PPaaS Next Generation Application Platform (NGAP) architecture with multiple payment gateways for integration.
This platform:
- Enables banks and other lending institutions, and digital apps to provide cross currency
remittances
- Improves payment efficiency and capability to manage higher payment volumes at lower
cost and higher speed

CHALLENGE

To enable easy acceptance of the remittances globally, and externalize payments-as-aservice to offer a menu of packaged microservices, Unimoni needed a cloud-based Remittance Transaction Process Engine that is scalable, easy to use, and secure. We came on board as their partner of choice to build a complete set of API stacks for end-to-end Remittance Transaction Processing that could be extended to their financial partners. The plug-n-play architectures would include everything from remittances to partner settlements, enabling Banks, Non-Banking Financial Companies (NBFC), retailers etc., to use the APIs best suited to their needs.

APPROACH

To build a Remittance Transaction Process Engine that can handle global clearing and settlement infrastructure, we built a PPaaS platform with Domain Driven Design (DDD) microservices architecture. The new PPaaS NGAP platform enables high-performance payments processing that is scalable, transparent, and can manage large volumes of transactions at a lower cost.

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