Defining the opportunity and roadmap to success: a US bank success story

For almost 10 years, GlobalLogic has partnered with a leading US bank to provide digital strategy, product, research, design, architecture, and engineering support. In late 2022, the bank sought help refining its embedded finance strategy. They requested a top-down view to determine where the bank had a competitive advantage and find a good partner. Their team also wanted us to assess their foundational readiness for successful integrations that could scale.

Challenges/Needs

• Create profiles of potential partners and establish a method for evaluating each opportunity.
• Assess their integration maturity and create a roadmap to achieve a successful embedded finance model.
• Evaluate their operational model and recommend changes to support marketing, sales, implementations, and ongoing maintenance.
• Improve existing integration capabilities through documentation, shortcuts, and automation.

Value Created

The bank leveraged GlobalLogic’s embedded finance strategy as a product approach to:

• Determine which partnerships to pursue.
• Consolidate disparate API capabilities and oversight into an API Center of Excellence.
• Clarify integration strategies, including roles and responsibilities from marketing and sales through to ongoing support.
• Improve integration documentation, shortcuts, and automation.

Impact

• Established ownership and improved decision-making about integration capabilities to boost revenue and/or decrease maintenance costs.
• Reduced downtime through change management initiatives and improved documentation of processes and procedures.
• Accelerated time to revenue through faster integration implementations.
• Improved self-serviceability and reduced help desk calls.

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GlobalLogic Embedded Finance as a Product helps US bank determine the most strategic partnerships for integration success and scalability