Banking IT services

Digital-First Banking IT Services

Modern day banking demands more than just traditional services—it requires speed, security, and efficiency at scale, with next-gen tech. Our solutions are designed to not only speed up customer transactions but also ensure customer delight. We understand the issues with escalating cyber threats, and security can’t be an afterthought. We build secure, scalable technology for modern neo-banks and financial institutions that integrates seamlessly with AI to deliver an exceptional customer experience (CX).

Our process starts by diagnosis – by understanding the unique needs and challenges of your bank—whether it’s slow loan approvals, sluggish transactions, or looming security threats. We align on your KPIs and goals, be it improving CSAT or NPS, or tightening security, or optimizing processes.

We generally recommend cloud platforms like AWS / Azure for transaction processing and effective data management. Our use of microservices architecture breaks down complex systems into smaller, maintainable modules, facilitating easy and flexible updates, which translates to improved performance and dependability.

AI-driven automation expedites processes like document verification, reduces errors, and boosts overall speed. Meanwhile, blockchain technology enables digital transparency & consensus, tightens security, and reducing the risks of fraud and data manipulation. The results speak for themselves: transactions are 40% faster, operational costs are cut by 25%, and customer satisfaction improves. With these advancements, your bank remains secure, efficient, and ready for future growth.

Here’s the impact you can expect:

2x

Faster processing

99.99%

Uptime for transactions

60%

Lesser fraud incidents

2x

Faster issue resolution

Banking innovation starts with a click—contact us today to see what we can achieve together.

Codewave: Secure, Scalable Banking IT Services

Are you tired of your bank’s technology feeling outdated? We help you build modern day digital banking systems that scale effortlessly. From integrating core banking to offering extended neo-banking services, we build delightful CX for your customers.

Digital Transformation Strategy

Our diagnosis – intervention – transformation efforts start by observing your bank’s processes to identify top gaps and inefficiencies. As-is Journey mapping & service blueprinting help us visualize the current workflow highlighting painpoints and ideas for fixing them. We then come up with ideas to transform specific steps in the process or eliminate a few steps – to ensure the process and touchpoints are more valuable and delightful.

For example, same-day account openings or instant approvals become possible. A smart digital transformation speeds up processes, avoids delays, and improves customer satisfaction.

CX Diagnosis & IT Consulting

Our digital strategy interventions start with a diagnosis of how your Brand engages with your customers. Our consultants identify bottlenecks in people / process / technology, leading to a frustrating customer experience. We use Salesforce CRM to analyze customer data and identify what stops us from creating personalized interactions, with maximum relevance, value and delight. Platforms like Genesys connect mobile, web, and branch channels for integrated, omnichannel experiences.

For example, we ensure customers experience a personalized conversation when switching from a chatbot to an agent or when visiting your branch – delivering delight.

IT Infrastructure Optimization

Efficient digital systems help your bank run optimally and reduce costs. VMware vSphere helps you optimize servers and workloads and make them more efficient. Microsoft Azure keeps track of your system’s performance, and spot problems before they happen.

For example, given your server infra and the load on systems – your systems can lag during a busy day with high transaction volumes. With auto-scaling IT infrastructure, your bank stays stable, transactions happen faster, and customer experience smooths.

Mobile Banking Development

Your customers expect fast and secure banking on the go. We build blazing fast banking apps, on Flutter – which is best suited for speed, security and scalability. It also ensures quick development, and consistent experiences across iOS and Android. Firebase integrates real-time database support, making transactions instant and secure.

For example, customers paying bills or transferring funds “on the go” expect instant responses. A robust mobile banking app bridges convenience and security, ensuring smooth user interactions and reliable services at every touchpoint.

Data Management & Analytics

Data is a bank’s most valuable asset. It shows customer behavior, reveals risks/opportunities, and helps improve continuously. We use Apache Kafka to process large amounts of data quickly, ensuring seamless real-time data collection. Power BI helps visualize data, offering actionable insights to enhance decision-making.

For example, when a bank handles transactions across multiple branches, real-time data analysis can reveal potential issues– a sudden drop in transactions or a spike in fraud. Using this data, timely actions can be taken to improve operational efficiency and customer satisfaction.

Compliance & Regulatory Consulting

Navigating complex regulations can be overwhelming and time-consuming. RegTech platforms streamline compliance processes and automate tasks like reporting and risk management. LexisNexis helps stay updated with real-time regulatory changes, minimizing risks.

For instance, when new financial regulations are announced, your bank can instantly adjust its processes to comply. Automated systems will track and update compliance requirements, avoiding costly fines or operational disruptions during audits.

Cybersecurity Services

Cyber threats constantly evolve and put your bank’s data and reputation at risk. CrowdStrike helps us with advanced threat detection and response, safeguarding against malware and ransomware. Check Point firewalls provide robust protection against unauthorized access and data breaches.

For example, during a security breach attempt, proactive monitoring and immediate threat containment stop unauthorized access before sensitive data is exposed. Cybersecurity measures ensure continuous protection, reduce the impact of attacks, and secure customer trust.

System Integration

Seamless integration with various disparate systems is key to improving operational efficiency. MuleSoft Anypoint Platform and Apache Camel simplify connecting different systems, which allows real-time data exchange without disruptions.

For instance, a bank might delay transferring customer data between branches and the mobile app. Lack of syncs and integration, may lead to a poor customer experience. We ensure all related systems are integrated, to work like a well orchestrated symphony.

Legacy System Modernization

Old systems can slow down progress, leaving you vulnerable to inefficiencies. Red Hat OpenShift helps migrate legacy systems to modern, containerized environments for enhanced scalability. Microsoft Azure enables the transition to cloud-native solutions, optimizes performance and cost.

For example, when a bank needs to upgrade its transaction processing system, legacy architecture often limits the speed of updates. Transitioning to a modern infrastructure with these technologies ensures smoother updates and a more responsive customer experience.

24/7 IT Support and Maintenance

Your bank’s systems need to run 24/7. Downtime can disrupt services, harm customer trust, and increase costs. Datadog tracks cloud infrastructure and application performance, monitoring metrics like CPU usage and memory. It sends alerts for potential issues, allowing teams to fix them before they impact services. PagerDuty sends automated alerts when incidents like system failures or performance issues occur. It notifies the right team members instantly, ensuring quick responses and reducing downtime.

For example, if a banking app crashes during peak hours, real-time monitoring detects the problem immediately. Systems are restored quickly, minimizing disruptions and maintaining a seamless customer experience.

We’d love to hear from you about your banking IT needs. Get in touch!

Our Smart Banking IT Solutions

We’ll help you make operations smoother, customers happier, and the bottom line healthier.

Cloud Banking Solutions

Banks need reliable systems to handle fluctuating demands. Microsoft Azure scales banking apps, while AWS Cloud’s Elastic Load Balancer ensures smooth operations during traffic surges, preventing downtime.

For example, during festive seasons, cloud systems add servers in real-time to handle traffic spikes, ensuring uninterrupted transactions and services.

Blockchain for Secure Transactions

Handling transactions securely is a must. Ethereum’s smart contracts automatically verify and secure payments, while Hyperledger gives banks a private, tamper-proof ledger.

For instance, during a cross-border transfer, blockchain verifies, encrypts, and secures the data instantly, giving customers peace of mind with every transaction.

AI-Powered Fraud Detection

Fraud detection in banking demands quick, precise action. Machine learning algorithms are used to identify patterns and predict fraudulent activity. Neural networks and decision trees continuously adapt to evolving fraud tactics.

For example, if a large, unusual transaction is detected, AI compares it with typical user behavior. The transaction is flagged and stopped before completion, ensuring security without delay.

Omnichannel Banking Solutions

Mobile apps, websites, and ATMs are integrated into a unified system. APIs and cloud technologies ensure data syncs smoothly across all channels, offering a consistent user experience.

For instance, when a customer starts a loan application on their phone and later continues it on their laptop, the process remains uninterrupted. All data and actions stay perfectly synced across devices, ensuring a smooth experience.

Regulatory Compliance Automation

Regulations are constantly changing, so compliance needs automation. NLP and machine learning read, analyze, and apply transaction regulations, ensuring compliance. However, experts must carefully review changes, timing of the rollout where the stakes are high.

The system can adjust to new regulations and validate transactions, but expert oversight is key to maintaining accuracy and minimizing risk.

Customer Data Security Solutions

Banks face increasing threats to sensitive customer data. Encryption, multi-factor authentication (MFA), and tokenization protect against unauthorized access. These solutions secure all sensitive information, ensuring privacy.

For example, when a customer updates personal data, encryption keeps it secure. MFA adds a second layer of protection, verifying the user’s identity before granting access.

Robotic Process Automation (RPA) for Back-End Operations

Manual tasks slow down operations and increase the chance of errors. RPA automates repetitive processes, such as data entry and report generation. This speeds up back-end tasks and reduces human error.

For instance, daily transaction processing can be automated. RPA captures and processes transaction data, and instantly generates reports without manual input, increasing operational speed.

Your banking IT needs a refresh. Let’s chat!

A Fresh Approach to Banking IT with Codewave

Banking IT demands a bold upgrade. Instant payments, robust security, and scalable operations are no longer optional—they’re essential. Codewave offers a fresh, streamlined approach that keeps your systems agile, compliant, and customer-focused.

Deeply Understanding Your Needs

First, it’s all about understanding what’s not working in the system. Are manual tasks slowing you down? Is compliance becoming a headache? Advanced tools like data analytics and process mapping highlight key areas for improvement. Each finding directly shapes the action plan, ensuring every solution targets real operational challenges, not just surface-level fixes.

Custom Solutions to Fit You

Once the problem is apparent, solutions are built around your needs. Say, APIs are designed to connect systems seamlessly, reducing delays in operations. Cloud-based setups scale instantly during demand surges, keeping services uninterrupted. Security is built-in from the start, using encryption and tokenization to always protect sensitive customer data. The goal is simple: make your systems faster, easier to use, and more secure.

Built-in Security and Compliance

Security and compliance are part of the system, not afterthoughts. Real-time monitoring tools like Prometheus and New Relic track system activity, alerting on potential threats or system failures. Data stays safe with encryption, and multi-factor authentication adds an extra layer of protection to keep things secure.

Let’s rethink banking together. Let’s discuss!

Tech-Powered Banking: Our Toolkit

Banking thrives on the right tools. From AI-powered insights to top-tier security, every tool is built to keep your finances safe and sound.

Core Banking Systems	Finastra, Temenos, Oracle FLEXCUBE, Infosys Finacle
Payment Processing	SWIFT, Stripe, Adyen, MasterCard Payment Gateway
Fraud Detection & Prevention	SAS Fraud Management, ACI Worldwide, FICO, Actimize
Blockchain for Banking	Ethereum, Hyperledger, Ripple, Corda
Cloud Computing	AWS, Microsoft Azure, Google Cloud, IBM Cloud
Customer Authentication	Okta, RSA SecurID, Ping Identity, Duo Security
Compliance & Regulatory Tools	Thomson Reuters, ComplyAdvantage, NICE Actimize
Data Encryption	AES (Advanced Encryption Standard), RSA, PGP, TLS
Data Analytics & Reporting	Tableau, Power BI, Qlik, SAS Analytics
Robotic Process Automation (RPA)	UiPath, Blue Prism, Automation Anywhere, WorkFusion
Real-Time Monitoring & Logging	Splunk, Datadog, New Relic, AppDynamics
API Management & Integration	Apigee, MuleSoft, WSO2, Dell Boomi

What to expect

What to expect working with us.

Frequently asked questions

.01 /What is design thinking, and how does it apply to banking IT services?

Design thinking is a human-centered innovation approach that focuses on users’ needs. In banking IT, it creates intuitive digital platforms, ensuring seamless customer experiences while meeting business goals and adhering to regulations.

.02 /How can cross-platform development benefit my bank?

Cross-platform development reduces costs by creating one codebase for multiple platforms like iOS, Android, and web. It ensures uniform user experiences, quicker updates, and faster deployment, helping your bank reach customers wherever they are.

.03 /What are the advantages of cloud and edge solutions for banks?

Cloud solutions provide scalability, cost efficiency, and better data management. Edge computing minimizes latency by processing data near its source. Together, they enhance real-time decision-making, boost security, and support AI-driven services like fraud detection.

.04 /How does Codewave ensure compliance with banking regulations in different countries?

Codewave integrates compliance from the start. Our tools adapt to global regulatory frameworks, ensuring alignment with specific country requirements. Automated updates keep systems in sync with evolving laws, eliminating manual compliance efforts.

.05 /Can Codewave help with digital transformation for traditional banks?

Yes, we specialize in transforming traditional banks with modern systems. Our approach blends design thinking with tech expertise to create innovative digital products, improve operations, and enhance customer experiences, ensuring competitiveness in a digital-first market.

.06 /How does Codewave ensure the security of banking applications?

Security is core to every solution. Advanced encryption, multi-factor authentication, and real-time monitoring safeguard data. Regular security audits and proactive updates defend against emerging threats, keeping customer information and banking systems protected.

.07 /What sets Codewave apart from other banking IT service providers?

Codewave combines design-driven solutions with cutting-edge tech like AI, cloud, and APIs. Our global experience ensures tailored, scalable solutions that meet banks’ unique challenges while enhancing customer satisfaction and operational efficiency.

.08 /How can automation improve banking operations?

Automation optimizes repetitive tasks like data processing, loan approvals, and compliance reporting. This reduces errors, accelerates workflows, and reallocates human resources to focus on value-driven activities like customer engagement and innovation.

.09 /What role does AI play in modern banking IT?

AI revolutionizes banking by enabling real-time fraud detection, predictive analytics, and hyper-personalized customer service. AI-powered chatbots and virtual assistants streamline support, while algorithms uncover trends to guide smarter business decisions.

.10 /Why is API integration important for banks?

APIs enable seamless connections between banking systems and third-party services, unlocking innovative features like open banking, digital wallets, and instant payments. They improve flexibility, expand service offerings, and keep your bank future-ready.

.11 /How do real-time analytics help banks?

Real-time analytics identifies transaction patterns, detects fraud instantly, and provides actionable insights for better decision-making. It enhances customer satisfaction by offering timely services and strengthens risk management with predictive capabilities.

.12 / How does edge computing enhance banking operations?

Edge computing processes data locally, reducing delays and ensuring uninterrupted service. It supports faster transaction speeds, real-time fraud detection, and enhanced mobile banking performance, giving customers a seamless and secure banking experience.