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success story

Delivered a 94% Reduction in Monthly BillingTime for a Leading Canadian Bank

The client is a diversified financial institution in Canada that provides a broad range of personal and corporate banking, wealth management, and investment banking products and services. They were looking to build an online banking portal and needed a partner who could integrate as well as modernize their existing treasury management and payment portals to ensure a superior customer experience.

 

 

The Challenge

The client was struggling to implement a shared platform for deployment of services across multiple lines of business to enable wire transfers, account transfers, eStatements, balance reporting, and stop payments.

They lacked specialized frameworks and standard interfaces to host multiple systems and manage security and sessions. This bank needed Virtusa's technical expertise to develop the conceptual and physical data model.

The Solution
  • Created a highly scalable, reliable, secure, and multi-channel payment treasury portal to provide 24x7 quality user experience to corporate and small business customers
  • Provided architecture consulting, design, and development using OLTP and OLAP DB modeling.
  • Implemented automated functional and performance testing services
  • Delivered reporting, data migration, and analytical database services
  • Replicated data from OLTP to OLAP database using Oracle Golden Gate
The Solution
The Benefit
  • Faster data migration for 1.2 billion transactions
  • Enabled an early warning system for monitoring and alerting about failures
  • Lowered the total cost of ownership and improved cross-selling and upselling opportunities
  • Delivered a 94% reduction in monthly billing time
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