Major South African Bank Provides Flexible Customer Onboarding with DeARX and WSO2
This project is for one of the major banks in South Africa with subsidiaries around the world.
The Risk Division of the bank sought to implement a flexible solution that would enable accurate and reliable customer risk and sanction list screening during the initial stages of the customer engagement process and then throughout the customer lifecycle. They needed to reduce time to market and comply with the banking industry’s stringent regulatory requirements, whilst delivering a reliable, high-performing solution. To this end, they worked with WSO2 Partner DeARX Services.
- In order to meet demanding customer satisfaction levels, the Risk Division was pressed by extremely short delivery cycles within the sanctions list screening process that were not adequately serviced by the existing integration layer.
- This integration layer was primarily a data pass-through layer for the Risk Division whilst current requirements demanded a further level of intelligence, reliability, and performance.
- The Risk Division also needed to perform additional screenings and other business functions such as risk analysis, and they needed this solution to be within their department’s control.
- The Risk Division’s new solution was built using the integration and process orchestration capabilities of WSO2 Enterprise Integrator, which is an open source and hybrid integration platform.
- WSO2 Enterprise Integrator has been implemented to manage all connections, build orchestration, and consume data services.
The new solution has significantly improved service levels - the delivery time has been decreased, fewer errors have been experienced, and there have been no issues with downtime. In addition, the go-to-market time took a mere 3 months, from the conceptualization of the solution until it was promoted to production. WSO2 Enterprise Integrator has proven successful in managing spikes in workload, enabling the Risk Division team to perform quick deployments and configuration in the event of ad-hoc changes.
Nick Parry, Executive Director at DeARX Services, explains that the Risk Division of this Major South African bank selected WSO2 due to its cost-effectiveness, quick deployment time, and the ease of configuration. "WSO2 Enterprise Integrator in particular enables enterprises to scale and secure sophisticated integration solutions for digital agility," says Parry.