Enterprise-Ready WhiteLabel Digital Banking Platform for SMBs

Financial services

Identified Challenges for a Digital Banking Solution Provider

A financial technology company aims to create a scalable, secure, and customizable digital banking platform that enables SMBs to manage their financial operations seamlessly. The current pain points include difficulties in maintaining transaction accuracy, integrating diverse third-party services, delivering a tailored user experience, and ensuring compliance and security across multiple client brands.

About the Client

A mid-sized financial technology provider seeking to develop a comprehensive white-label digital banking solution tailored for small and medium-sized enterprises, enabling rapid deployment and customization.

Goals and Expected Outcomes of the New Banking Platform

Develop a robust core banking infrastructure supporting essential functions like account management, transaction processing, and financial reporting.
Implement secure digital contract signing capabilities to streamline client onboarding and agreement management.
Create a centralized general ledger system to maintain transaction integrity and support compliance.
Streamline back office operations with ticketing, monitoring, and audit trail functionalities to improve operational efficiency.
Enable seamless euro-denominated payments within the SEPA zone.
Build a secure, real-time crypto exchange platform facilitating fiat-to-cryptocurrency conversions.
Integrate dispute management systems for handling payment conflicts transparently.
Design a flexible fee management module to configure, track, and optimize revenue streams.
Implement a comprehensive onboarding and KYC process with customizable questionnaires and third-party integrations.
Support merchant payment acceptance via POS and e-commerce channels with secure transaction processing.
Develop card issuance capabilities, including virtual and physical cards for corporate clients.
Create a customer support module with chat and ticketing features to enhance user satisfaction.
Implement user management with role-based permissions and data security controls.

Core Functionalities and Features for the Digital Banking Platform

Account management and transaction processing modules ensuring reliability and scalability
Secure digital contract signing with compliance traceability
Centralized and flexible general ledger supporting customization or third-party integration
Back office operations including monitoring, ticketing, and audit trail capabilities
SEPA payment integration for euro-denominated transfers
Real-time crypto exchange for fiat and digital assets
Dispute management system for transparent handling of payment conflicts
Fee configuration and tracking module for transparency and revenue optimization
Configurable onboarding and KYC processes with third-party verification providers
Merchant acceptance solutions for POS and e-commerce transactions
Card issuance system supporting virtual and physical corporate payment cards
Customer care platform with live chat, support ticketing, and inquiry management
User management with permission controls and data security standards

Technology Stack and Architectural Preferences

Java Spring Framework for backend development

Angular for frontend interface

Kotlin and Swift for mobile app development on Android and iOS

Firebase for real-time data and authentication

Jenkins for continuous integration and deployment

Essential External System Integrations

Third-party signing solutions for secure contract execution
KYC verification services and identity providers
Banking APIs for transaction processing and account management
Payment gateways supporting SEPA transfers
Cryptocurrency exchange rate APIs
Third-party fraud and dispute resolution services
Card issuance and management providers

Critical Non-Functional Specifications

Scalability to handle increasing user base and transaction volume with future growth capacity
High performance with system uptime exceeding 99.9%
Security protocols including 2FA, SCA, and data encryption to meet financial regulatory standards
Compliance with GDPR, PSD2, and other relevant financial regulations
Reliable system monitoring, logging, and alerting mechanisms for operational stability

Projected Business Impact and Key Benefits

The development of this comprehensive white-label digital banking platform aims to enhance operational efficiency, enable rapid deployment of customized financial solutions, and improve compliance and security standards. Anticipated outcomes include increased client satisfaction, streamlined workflows, and scalable infrastructure capable of supporting expanding client portfolios and transaction volumes, ultimately driving revenue growth and market competitiveness.