A prominent South African international banking and wealth management group has engaged Synthesis to aid in the development of their next-gen payments platform for the successful implementation of PayShap.
The bank’s strategic goal is to modernize existing banking systems and establish a cloud-based next-generation payments platform. This platform seeks to consolidate payment processing through a highly customizable, API-driven interface, serving as the foundation for PayShap and future support for all payment types.
The Solution
Synthesis played a pivotal role in constructing a foundational element of the unified payments platform, crucial for processing PayShap payments. The collaboration also involved modernizing the bank’s payment technology architecture. The architecture, based on an event-driven model, ensures lower latency for real-time processing and reduces failure points by decoupling various systems within the bank. The implementation involved leveraging expertise in payments, Microsoft Azure, API development, Akka.NET, and DevOps.
The Results
The outcomes include a scalable, reliable, and high-performing platform that enhances operational efficiency, simplifies governance, and elevates customer experience.
Emphasizing a cloud-native and microservices-driven architecture, the platform currently supports PayShap payments and is positioned to evolve for future high-value and mass payments.
With a PayShap-capable platform, the bank is set for payment modernization, marking the beginning of a transformative journey.
