Project Description

10X Case Study

THE CLIENT PROBLEM

A UK based core banking platform provider was engaged by a large Australian bank to implement a Bank as a Service platform for their clients.  This implementation was successful but, for the client brands to go live CDR Data Holder compliance was required.

The client needed a CDR compliant data holder solution, that would fit into their existing architecture and align with their existing, incomplete, UK Open Banking solution.

The timeframes with the implementation were very aggressive.  To meet the needs of the bank and the bank’s clients the entire solution had to be developed and delivered in less than three months to meet the regulatory requirements and allow for the public facing brands to go live.

REDCREW SOLUTION

RedCrew assembled a RedX team with team members in Australia and the UK to provide a solution.  The team that was assembled was selected for expertise, familiarity with the existing architecture of the client, previous experience with the UK Open Banking implementation and expertise in the Australian CDR regime.

The end result was the delivery of a series of Java Spring Micro-services and Apigee proxy configurations that met the requirements of the CDR technical standards in less than three months for project initiation.

For contrast, an aggressive program for CDR data holder implementation would be six months with most implementations taking longer.  The internal estimate for delivery far exceeded the RedCrew project in time and cost.

After delivery RedCrew then supported the client through the conformance testing process required by the ACCC to become a CDR registered data holder.

BENEFITS DELIVERED

Through this engagement the client was able to meet their obligations to their client, a major Australian bank.  As a result, two of the bank’s clients were able to go live with their banking products.  This included a major international brand.

These benefits were delivered to a fixed cost to the customer and were delivered on schedule despite the aggressive timeframes.

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