Discover how SovTech's CRAFT platform transformed BankservAfrica's operations; a case study on streamlining data management, and enhancing interbank efficiency.
BankservAfrica works with banks to manage debit order abuse. The original process was manual and labour intensive. BankservAfrica partnered with industry to develop a long term initiative encompassing touchpoints and workflow processes between participants in the National Payments System. Recognising the need for innovation to maintain excellence, BankservAfrica approached SovTech, a leading software provider known for groundbreaking solutions.
The goal was to streamline BankservAfrica's information management in service of its clients - the South African banks. By centralising data and enabling seamless integration, huge efficiency gains could be achieved. The vision was to save time and improve the outcome through automated credentialing and verification checks compared to manual processes.
After aligning on the vision, SovTech and BankservAfrica entered a strategic partnership to build the CRAFT platform. This new platform aimed to deliver a secure, centralised hub, enabling transparent processes and the central management of User behaviour in the NPS as it relates to debit orders. By leveraging SovTech's innovative capabilities, BankservAfrica took a major leap forward in managing debit order abuse.
The end result was a cutting-edge solution fitting BankservAfrica's high standards for security and reliability. CRAFT provided a foundation to enhance services and maintain BankservAfrica's reputation as Africa's leading payments clearing house.
The platform introduced a centralised database system that facilitated automated data capturing and secure storage.
BankservAfrica sought to champion transparency and efficiency among sponsoring banks by implementing reliable data visibility which would enable the banks to make more informed decisions by accessing credible information.
To combat this, a transparent dashboard allowed BankservAfrica’s clients to monitor and understand their risk. Banks could now discern which users were high risk and which were not, leading to a more transparent and effective decision-making process.
BankservAfrica envisioned incentivising their clients to react swiftly to their recommendations.
The platform gave BankservAfrica’s clients a 20-day window period to decide on pursuing a relationship with said users. Optimising the verification process altogether.
By enabaling querying of various platforms into a unified system, the aim was to streamline verification and unlock the power of integrated analytics. BankservAfrica aimed to streamline the verification process and unlock the full potential of integrated analytics by consolidating data from various platforms into a unified system.
SovTech leveraged its robust API capabilities to simplify the integration process. The platform was designed with modularity in mind, accommodating different data structures and formats, ensuring a smooth and unified data flow.
Embracing Agile: SovTech, being an ardent adopter of the agile methodology, structured the entire project around iterative development and continuous feedback. This ensured that the CRAFT platform was developed in alignment with BankservAfrica's evolving requirements. Regular sprint reviews allowed BankservAfrica to be an active participant in the development process, ensuring the final product met and exceeded their expectations.
API Capabilities: Leveraging the agile framework, the development team prioritised the integration of robust API capabilities early in the process. This quick-win strategy ensured a seamless and efficient data interchange between BankservAfrica and its partners, enabling real-time updates and smooth operations.
Integration with Regulatory Body: The agile approach enabled SovTech to quickly adapt to the complex requirements of integrating with a prominent financial regulatory body. By breaking down the integration into manageable tasks and prioritising them in different sprints, SovTech ensured that the CRAFT platform was not only efficient but also compliant with financial standards and regulations.
Resource Allocation: BankservAfrica began its journey with SovTech on a package that involved three full-time resources. However, as the project scaled and complexities were uncovered, BankservAfrica transitioned to a custom package. This new package focused on continuous integration and development, embodying the spirit of agile. The phased approach allowed for structured rollouts of features, ensuring stability and adaptability.
Scalability: In line with the agile tenets of adaptability and forward-thinking, the success and efficiency of the CRAFT platform led to its scalability in other departments of BankservAfrica. This intra-departmental implementation was executed in phases, ensuring each department's unique needs were catered to without disrupting their operations.
Front-End:
Back-End:
Hosting:
SovTech opted for Javascript React for the front end due to its flexibility, efficiency, and capability to deliver a responsive user experience. Relating to the project approach, its compatibility with various APIs ensured seamless data display and interaction on the client side. For the back end, TerraForm was the choice. This open-source infrastructure as a code software tool allowed SovTech to provision and manage any cloud, infrastructure, or service.
Given the project's integration with a major regulatory body, it was vital to have a reliable and adaptable back-end solution. Amazon Web Services (AWS) was selected as the hosting platform. Being one of the world's most comprehensive and broadly adopted cloud platforms, AWS offers scalability, reliability, and security. Since the project's nature required uninterrupted service, AWS provided the reliability required for such a crucial platform.
In collaboration with BankservAfrica, SovTech crafted the revolutionary CRAFT platform to address key challenges using agile methodology. Beginning with three dedicated resources, the project matured into a custom package, emphasising continuous development. Through agile, the platform now boasts robust API integrations, regulatory compliance, and scalable solutions across BankservAfrica's departments. The CRAFT platform exemplifies the power of strategic partnerships and progressive methodologies in software development.
