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Online Debt Restructuring Platform Integration with Banking Systems
  1. case
  2. Online Debt Restructuring Platform Integration with Banking Systems

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Online Debt Restructuring Platform Integration with Banking Systems

spyro-soft.com
Financial services
Banking

Business Challenges

The bank required a digital solution to streamline debt restructuring processes, which previously demanded physical branch visits and manual handling, leading to delays (up to two weeks) and operational inefficiencies. The lack of an in-house software development team necessitated external expertise to deliver a secure, user-friendly platform integrated with existing banking systems.

About the Client

A leading Polish bank and part of a global financial institution, offering retail and corporate banking services with a focus on digital transformation.

Project Goals and Objectives

  • Enable fully online debt restructuring without branch visits
  • Reduce processing time from weeks to minutes
  • Improve customer satisfaction through intuitive self-service features
  • Integrate seamlessly with online banking platforms and mobile apps
  • Ensure compliance with security and accessibility standards

Core System Functionalities

  • Debt restructuring application submission with customizable payment plans
  • Automated/semi-automated payment schedule adjustments
  • Online annex signing and agreement management
  • Alternative payment methods via integrated payment providers
  • Mobile-responsive design compatible with banking apps
  • Pre-built forms for customer support requests with data pre-population

Technology Stack Preferences

Microservices architecture
CI/CD pipelines
Workflow engine integration
Responsive web design frameworks
API-first development approach

System Integration Needs

  • Core online banking platform
  • Payment service providers
  • Mobile banking applications
  • Identity verification systems
  • Customer relationship management (CRM) tools

Non-Functional Requirements

  • High-security standards (e.g., GDPR compliance)
  • Scalability to handle peak user loads
  • Sub-10-minute process completion SLA
  • WCAG 2.1 accessibility compliance
  • 99.9% system uptime guarantee

Expected Business Impact

The platform will reduce debt restructuring processing time from 14 days to under 10 minutes, enabling 25% of cases to be resolved digitally without human intervention. Mobile integration will cater to 70% of users accessing services via smartphones, while seamless authentication will enhance security perceptions. Post-implementation surveys indicate a projected 4.5/5 user satisfaction score and significant operational cost savings.

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