How banking and finance software is changing the game

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How banking and finance software is changing the game

Few industries are more complex or contain more moving parts than the financial and banking sectors. On top of this complexity, there are higher stakes, where mistakes often lead to real financial losses on multiple levels.

It makes sense, then, that the companies in these industries use custom software to increase efficiency, maximize productivity, reduce human error, provide better customer experiences, and much more.

For example, most banks offer their customers mobile applications that put all common banking services at their fingertips. Many people now go months, or maybe even years, without physically setting foot in a couch.

While there are many possible use cases for customer-facing software, there are countless opportunities for software to assist in internal operations. Any business built around finance will have a lot of data that needs to be constantly tracked and updated. Then there are the common needs of most companies such as HR portals, billing software, etc.

While some banking and financial companies employ their own development staff to create the custom software to meet their needs, most will look for third-party software development companies.

When choosing a company to develop their custom software, financial and banking institutions look for experience, professionalism and a proven track record of success.

Below we talk about some of Asahi Technologies’ banking and financial software development projects and the roles they played for their clients.

A more efficient and customer-friendly loan application process

Applying for and obtaining a business loan can be an incredibly tedious and time-consuming process on both sides. Our client, a lender, wanted to change that.

Their goal was simple: streamline the distribution of loans and speed up the process of getting money to the companies that need it faster.

It was decided that the best way to achieve that goal was through the use of a custom developed online loan portal that was easy to use and required minimal financial documentation.

The portal needed to support third-party integrations with a variety of security tools and other systems. It had to be scalable to accommodate customer growth. Finally, it had to implement a complex multi-factor loan approval process.

Ultimately, we delivered a portal that accomplished the goal of completely overhauling and streamlining the loan application process so that our client’s clients could enjoy a much easier-to-navigate business loan landscape.

Custom Chargeback Fighting Software

Chargebacks are essentially when a customer disputes a transaction made using their card details, and then a card issuer or financial institution works on the customer’s behalf to take the disputed funds back from the merchant.
It is often the result of fraud and the merchant is almost always the one paying the bill when it happens via e-commerce.

Our client was committed to helping other online merchants fight chargebacks and chargeback fraud. To do that, they used a chargeback analytics tool that could collect customer data and provide evidence that could help dispute expensive chargebacks.

Essentially, what they needed was a way to integrate their new tool with various third-party systems to work together seamlessly in a way that was scalable and able to evolve over time.

We were chosen as the technical partner to facilitate this integration, and together with the customer we integrated their software with a CRM platform that served as a proof of dispute retrieval tool, the Visa Merchant Purchase Inquiry system and an open -source identity and access control program called Keycloak.

The result was a fully capable platform that put all the tools needed to combat chargeback abuse within the reach of analysts.
Read the full case here.

A custom web portal for investors

Wall Street is a fast-paced environment where a lot of money and stocks change hands quickly. Therefore, easy access to key legal information is paramount to investors.

Our client helped high-profile investment companies easily decide which bonds would give their clients the most favorable market position.

Traditionally, bonds would be accompanied by a hundreds of page prospectus that would then be reviewed by expensive lawyers.

Our client had his in-house lawyers and analysts write a 4-6 page legal letter that would be available when a bond came to market. Investment managers could then pay a simple subscription fee to access those more digestible reports and get legal advice at a fraction of the cost of using outside attorneys.

To make this possible, however, they needed a customer-oriented, custom-developed web portal to access these documents.

We worked with the client to create such a portal that can not only deliver the documents to clients, but also use finely defined permission types to assign different types of accounts for different access levels.

Ultimately, our client was able to offer a product that saved a lot of headaches on Wall Street using custom software that offered a new kind of cost-effective service to a fast-paced world.

If you think it’s time for your financial or banking business to financial software development company to help with your company’s project, don’t hesitate to: view the reviews from our many satisfied customers and click the button below to contact us and then receive a free consultation.

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