TrustBanc is an investment management firm. They provide bespoke financial services to suit their clients ranging from banking, brokerage, forex, and wealth management.
TrustBanc blazed the trail in digital banking in Nigeria by deploying Fintech solutions to create an innovative financial services-hub that meets the needs of its customers. The firm is at the forefront of ongoing innovations for the banked and unbanked in the Nigerian financial industry.
Problem
The client wanted to digitise their operations as well as own their own infrastructure as they were initially on a shared platform.
Our Approach
For this project, we adopted a Kanban approach by executing in weekly sprints. Our goal was to guarantee TrustBanc’s infrastructure autonomy during the digitisation process, we managed third-party integrations, including the integration of their payment gateway to entities like Nigeria Inter-Bank Settlement System (NIBSS), Interswitch and Stanbic. We also ensured compliance at every stage of the process. This involved creating policies and procedures that align with relevant laws and regulations, such as those related to anti-money laundering and know-your-customer protocols.
Additionally, we implemented various controls to monitor transactions and detect any potential compliance violations. To maintain a strong compliance framework, we regularly reviewed and updated our policies and procedures as necessary.
Result
The digitisation was a success as it provided TrustBanc with their own core banking and digital banking infrastructure in record time. Worthy of note was the development of a new mobile banking app for Trustbanc, which provided seamless access to their customers and from which Trustbanc could offer bespoke services, powered by their new core banking system.
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