HCL helped UK’s leading foreign exchange supplier offering a range of services digitalize by integrating its digital channels with complex back end systems.
Enterprise IT Systems are divided into systems of record, engagement and innovation. According to Forrester, while increasingly organizations are looking to increase their spending on systems of differentiation and innovation and halve spend on systems of record, there is underinvestment in systems of engagement… these systems need several key technologies, with a critical focus on back-office integration. The survey reveals integration with back-office systems as the biggest barrier to system of engagement delivery – Forrester Forrsights services survey 2013
UK’s leading foreign exchange supplier offering a range of services including wholesale notes provision, branch supply, Travel Money Online, management of prepaid Travel Money Cards, branch training and marketing wanted to digitalize its channels by integrating them securely with the complex back end systems
HCL leveraged the power of APIs and delivered the following solution -
• HCL created a generic API (Application Programming Interface) services layer based on Web Oriented Architecture (WOA) principles for the digital channels. It was built as an extensible framework to: Provide various channels and consumers with a secure way to integrate with business functions
• Enable information tracking and end-to-end services management at every stage and across services
• Develop feature driven domain APIs optimized for devices
• Enhance the ability to extend to the chargeback model
The business benefits accrued for the firm went much more beyond the stated objectives and HCL delivered –
• Scalability
• The solution laid the foundations for a Web Oriented Architecture framework now extendable to various other channels in addition to the originally intended Mobile Apps on Android and iOS
• Cost Efficiency
• Distributed caching reduced the usage of paid web services and resulted in cost savings
• Reusability
• The solution exposed the workflows of Top-up, Account Unlocking and other processes and made it reusable on the online application, which performs the same and similar functions
• Innovation at the speed of business
• The API Platform served as Back-end-as-a-Service for App developers, enabling them to build and innovate rapidly