The Client
International financial services provider regulated by the UK Financial Conduct Authority and specialising in cross-border remittance. The clients product is an online money transfer platform and mobile remittance app that help the global diaspora community to support their loved ones abroad, without excessive fees or fuss.
The Client Request
Our client, a growing financial services provider, approached Pinobyte with the challenge of modernizing their outdated money transfer system. The legacy infrastructure they had in place no longer met the demands of their expanding business, creating inefficiencies in transaction management and risk control. The client's primary needs were to develop a robust, scalable platform that could efficiently manage transactions, provide seamless customer management, and integrate an advanced, fully automated risk management system.
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Result
We successfully completed our project with a growing financial services provider focused on modernizing their money transfer system. Our team transformed the legacy infrastructure into a robust platform that efficiently manages transactions and enhances customer management. A user module was developed to capture detailed statistics on remitters and beneficiaries, facilitating smoother transaction monitoring and enabling informed decision-making.
We also crafted a cutting-edge Risk Management Engine that features real-time risk assessment tools. This became a crucial data source, allowing ongoing analysis and refinement of business processes to improve revenue per transaction. The system’s advanced engine for detecting fraudulent activity now automatically flags transactions, achieving an impressive 97% fraud detection accuracy.
Furthermore, we developed a bonus management system that enables effective segmentation based on various factors, boosting customer satisfaction and optimizing bonus distribution. As a result, the new system now supports 150,000 transactions per month, reduces manual work by 25%, and increases customer retention rates by 18%. This successful project positions our client for continued growth in the competitive financial services market.
We partnered with PinoByte to build a custom payment gateway, and their technical expertise exceeded expectations. They delivered a plugin-based platform that enabled rapid integration of new payment providers, improving our onboarding speed by 3×. They also built an intuitive admin panel and a powerful fraud detection system.
Throughout our collaboration, PinoByte proved to be a reliable and professional technology partner.
