Case Study
API-based integration hub facilitates third-party growth strategy at European financial services company
CLIENT
This European multinational consumer finance company provides tailored financial services, such as loans, credit cards, leases, and savings accounts, through various channels, including the internet, branch locations, and phone centers. Serving nearly 20 million customers across 25 countries, the company is committed to innovation and continually evolves its offerings to meet the changing needs of consumers. The company employs more than 15,000 people.
CHALLENGE
Enabling a business transformation—from traditional products to an API-based strategy
The company wanted to transform its business model from a traditional financial product strategy to an API-based strategy to allow third-party service providers to manage consumer financial applications and accounts. To support this expansion strategy and attract new business partners across Europe, the company needed to implement a cloud-based integration hub that spanned multiple countries. The architecture needed to meet a range of complex requirements and provide a straightforward, intuitive partner onboarding process. Key requirements included:
- Security and regulatory compliance—reflecting the unique financial product regulations across multiple countries and geographic regions and ensuring secure API access
- Seamless backend services—providing connectivity to country-specific on-premise backend services
- Scalability—to support forecasted business growth from one partner in three countries to 16 partners in 24 countries within two years
- Platform adaptability—using agile development methodologies to deliver new financial products and services to the market as quickly as possible
TRANSFORMATION
Delivering a cloud-based integration hub, a common data model, and support services
UST designed and deployed a comprehensive cloud-based integration hub, providing partners with secure and streamlined access to financial products and services. The architectural framework was based on a cloud-native ecosystem, including an orchestration layer, APIs and microservices, and monitoring, alerting, and reporting capabilities.
UST also designed a common API and JSON data model for partners across its diverse geographic footprint with appropriate routing to on-premise backend services for local access to business logic. The integration hub was designed and deployed to streamline development resources using a DevOps CI/CD software delivery lifecycle. UST also provided professional services for operations, maintenance, development, and 24x7 support.
IMPACT
Laying a modern foundation for growth
By leveraging the integration hub, the financial services company expects to significantly increase its customer base by fostering deeper collaboration with existing partners and attracting new ones to drive growth and market penetration. Exposing financial products and services as an API provides seamless integration with a wide range of partner systems and platforms, enhancing business and innovation opportunities. By adopting a modern software delivery lifecycle, the company can accelerate time-to-market, enabling a quicker response to customer demands and industry trends and ensuring its leadership status in the competitive, rapidly evolving financial services industry.