"This project puts our company in a competitive advantage with regards to our competitors because we were able to emulate what large banks are doing quickly and effectively even before some of them launch their own product, providing unbanked customers with the means to use financial services."
Viamericas: New Wire Transfer Services from Latin America
When Viamericas outgrew their system, they decided to build a custom one.
ABOUT THE CLIENT:
SERVICES USED:
SERVICES USED:
The Challenge
Viamericas was using a Check21 solution provided by a nationwide bank. They were also growing at a rapid pace. Given their agents’ acceptance of the solution, Viamericas knew that they would soon outgrow their current system. So Viamericas decided to build its own solution, working with Softjourn and with the assistance of their financial institution.
Being a mature business, Viamericas knew what they wanted (and did not want) in their own application. The goal was to create both operational and economic efficiencies.
Luis Gonzalez, CFO at Viamericas
The Solution
Check21 interfaced
Softjourn interfaced with the current Check21 solution provider to design, develop and test the process of sending electronic cash letters and receiving electronic return files.
On hold feature
We also included new functionality previously unavailable with the current solution, such as the ability to put checks on hold automatically based on system-wide restrictions established at the central Viamericas location.
Software integration
Another important part of the new approach was the software integration of optical character recognition (OCR) solution into the final solution. Softjourn initially researched solutions from 10 vendors, performed in-depth testing of 5 solutions, and then presented the best solutions to Viamericas for their final selection.
The Benefits
After our detailed review of the client's system, we analyzed the offers of 10 vendors and presented the best solutions to our client's team.
After the development stage was done, they shared with us the results of the new platform as it started bringing new users and gave Viamericas a considerable market advantage.
After our collaboration, they continued to work on additional features as they are giving a chance for many unbanked customers to send and receive money worldwide.
Conclusion
Softjourn's team has a lot of experience in both developing new financial solutions and advising clients on how to further develop their products. If you are looking for a software development provider to help you with you next project - contact us.
Partnership & Recognition
