Banking, Insurance and Finance
The Banking and Insurance (BFSI) sector, crucial part of economic
growth and includes a wide range of entities such as banks, insurance
companies, fintech startups, and credit service providers. The sector is
growing at a verry fast pace and there has been a robust implementation
of IT systems in this sector. BEAS is well positioned with its broad and
in-depth domain capabilities to provide new and effective products and
solutions for Central banks, large Insurance Corporations, Fintech
Companies and wallet solutions in Commerce.
Insurance Mobile App for Oriental Insurance Company Ltd. (OICL), India
The Oriental Insurance Company Limited (OICL), a public sector dealing in non-life insurance products, has been ahead of its peers in the industry in adopting information technology.
Content Management Portal for Federal Bank, India under PWC’s Guidance
Federal Bank Limited is a major Indian commercial bank in the private sector headquartered at Aluva, Kerala having more than thousand branches and ATMs spread across different States in India. Driven by the need to streamline their core processes and meet organization-specific requirements, Federal Bank wanted to develop / deploy a portal for managing documentation and control to enable the customers to use and view the same online.
Development / Maintenance of “Import/Export” System for Reserve Bank of Malawi, Africa
Requirements for functional enhancement, maintenance and support of their G-to-C Export / Import System for the Reserve Bank to enable them to effectively track and manage the exports out of the country and imports into the country.
Development & Implementation of Banking Services for enterprise level Letter of Guarantee (LOG) Generation
Saudi Arabian Govt. took an initiative based on Saudi Arabian Monetary Agency (SAMA) and Ministry of Finance to automate Letter of guarantee. The application is intended to establish a trusted communication channel that serves as a mediator between banking firms and other Government Agencies and Private Agencies those require the use of letters of guarantee for their business. The project will establish a unified marketplace platform that allows end-to-end, paperless standardised process related to LG.
Development and Maintenance of Loan management App
A fintech company aimed to modernize its used car loan application process, which traditionally involved lengthy paperwork, multiple in-person visits, and prolonged waiting periods for approval.
Payment Gateway on AWS (Netherlands)
A leading fintech company, specializing in providing payment processing solutions for e-commerce businesses decided to enhance their Core product. Their core offering was a payment gateway application that facilitated secure transactions between merchants and customers. Initially, the application was hosted on-premises, but as the company expanded, they faced challenges in scaling, maintaining high availability, and ensuring compliance with security standards. To address these challenges, and to enhance some more features in the product, they contracted BEAS to enhance and then migrate their Payment gateway to AWS.
Development of a ‘Mobile Money Wallet’ for 231Wallet.com, Nigeria
231Wallet.com, an US based company, with an intention of facilitating the money transaction business in the rural population of African countries wanted to build a Mobile App to facilitate money transaction online with features such as Deposit Funds, Buy Credit, Pay Vendors and Transfer Funds along with user authentication and profile management facilities. The basic backbone of communication between the Mobile Money service and the application was a third party API (Fundamo)