Case Studies

Summary - Support software developer in proposition development, delivery of software and implementation with clients.

Situation

Fiserv Inc, global fintech and provider of payment solutions sought to offer a fully integrated SaaS banking platform to enable new and existing financial institutes to quickly deliver retail and SME banking products such as current accounts, savings, and secured and unsecured loans, together with a full suite of payment and transaction capabilities, to manage customer relationships across all channels and throughout the customer lifecycle and to retain full ownership of the customer, the associated data, their brand, and their commercial model.

The integrated platform, Agiliti, launched in 2015, comprises products supported by multiple 3rd parties, which Fiserv had no previous direct experience of working with.

CBS was the ideal partner for Fiserv having delivered integration services for several UK banks, possessing deep market knowledge and experience of a wide range of banking products, and having worked in a highly regulated environment.  

Task

CBS was engaged by Fiserv to supplement their small UK delivery team, from project management to banking product subject-matter expertise, in order to define and develop the product offering and ensuring fully operational integration to support delivery to Fiserv's end clients. Fiserv in parallel was developing the go to market commercial proposition, it was essential that the supplementary 3rd party products supported the sales strategy and that Agiliti could be delivered in a timely manner to secure revenue and market-share.

Actions

CBS provided a comprehensive proposition for Fiserv, covering programme management (working to the companies preferred delivery methodologies PRINCE2 and Agile along with a project management office), through to product development, infrastructure and integration expertise.

CBS alongside the Fiserv Product Owner established individual projects to establish specific product requirements including Anti-Money Laundering (AML), Fraud and Credit Referencing solutions and for customer features.

CBS provided technical expertise to support the development of the digital and commercial requirements. Utilising their market insight CBS supported the tendering process and successful identification of 3rd party providers and onward integration of the products and services into Fiserv’s core banking platform to create the UKs first Software as a Service (SaaS) banking platform., Agiliti.

Result

Agiliti was launched with early adopter banking customers, successfully aligning product, services and commercial propositions. Within the first 18 months of live service, 6 credit unions and 2 UK challenger banks were successfully onboarded, led by CBS.

CBS was instrumental in ensuring the end-to-end integration would provide a seamless highly secure and compliant banking customer experience. The fully integrated platform was a critical factor for the onboarded Financial Institution customers to secure their UK banking licence.

CBS achieved significant financial savings on behalf of Fiserv through direct negotiations, and the high quality integration designs ensured future scalability.