BMO and FICO Transform Financial Services with AWS

Esperanza, a non-profit microfinance organization based in the Dominican Republic, was struggling to provide loans efficiently due to a legacy system that was costly and outdated. The on-premises solution required transcribing content from physical loan files, and managing loans and reporting on customer data was manual, complicated, and time-consuming. To advance the capabilities of its organization, Esperanza turned to AWS Partner Mambu. Working with Mambu and Amazon Web Services (AWS), Esperanza migrated to digital, cloud-based operations to significantly improve their loan processing speed and agility. Moving to Mambu’s cloud banking platform led to dramatic improvements in management efficiency, access to data and reporting, and the ability to expand the breadth of their services.

Bridge, a France-based company that specializes in enabling and initiating payments, chose AWS Partner Padok to help it maintain its open banking platform 24/7 while optimizing costs and complying with French employment laws that limit overnight working hours for developers. Built on Amazon Web Services (AWS), Bridge’s infrastructure uses APIs to help customers’ systems connect with its platform in real time. Working with Padok, Bridge now has a platform that is secure and available, and the two companies have developed a trusted partnership.

Legacy technologies can be challenging to maintain and integrate with modern applications, channels, and architectures. To comply with open banking regulation, OpenLegacy helped Bank Leumi initiate a program that would transform it into an API-first organization by adapting its existing legacy mainframe systems.

Profectus Capital Private Limited, a financial institution that caters to small-and medium-sized businesses (SMBs), partners with many fintech organizations to make the loan disbursement journey digital, seamless, and quick. With its entire technology stack on AWS, the next step for Profectus was to consolidate data from multiple systems for a comprehensive view of loan applicants, business profiles, and loan collaterals. Working with AWS Partner Noventiq, Profectus developed a Data Lake on AWS that uses AWS Glue, Amazon S3, and Amazon Redshift. As a result, Profectus now has an instant, 360-degree view of insights across multiple systems to help streamline the decision-making process around loan sanction.