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CASE STUDY

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The challenge

MONETA’s plans to expand its digital

banking capability are ambitious and they

found that they were being held back by

an outdated fifteen-year-old platform.

The system in place didn’t allow

decentralised, agile and parallel

development and did not support the

principles of Continuous Integration and

Continuous Delivery (CI/CD).

Another setback for the bank’s

transformation strategy was the age

of its integration system, which meant

the bank was unable to support industry

standards such as Open APIs.

Changing the platform became a

fundamental part of the MONETA’s strategy

and it needed to find an experienced

middleware partner that could complete the

necessary work and enable migration away

from the existing Oracle FlexCube system.

Having selected WSO2 as its new

middleware platform, it was imperative that

MONETA chose the right integration partner

as it needed to support the bank in its

migration of an old system that supported

around 40 million calls per day.

Mitra’s WSO2 experts proposed an

enterprise-class, scalable solution that would

speed up MONETA’s responsiveness and

help the bank realise its digital ambitions.

MONETA Money Bank (MONETA) provides retail

and commercial banking, as well as other

financial services in the Czech Republic. The bank

services one milion clients, runs more than 200

branches and operates over 650 ATMs,

offering customers current accounts, savings

accounts, loans, mortgages, investment and

insurance services. In 2017, MONETA embarked

on a four-year digital transformation strategy to

make the bank more competitive and become a

digital leader in the market.

The bank aspires to build market-leading digital

capabilities, increase market share and satisfy

the increasing demand for online services, with

the goal to sell at least 40% of its major products

online by 2020.

Moneta Money Bank

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The solutionMONETA partnered with Mitra to implement a new banking Integration Platform (IP). This involved the rolling out of an Enterprise Service Bus (EBS) and Application Program Interface (API) Manager. The new system eliminated many pain points for MONETA and enabled it to support an agile model of development, a higher level of automation and ultimately its ongoing digital transformation.

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The new solution enabled MONETA to follow agile principles of development, allowing each dev team to focus on its scope and to be able to deploy on demand. This parallel development will help MONETA to deliver services with a higher added value much faster.

Agile development

Moving to a modern Integration Platform (IP) was a critical element for MONETA, as it is an integral part of supporting modern transactional standards. The move has enabled the bank to manage API life-cycle, throttling, security and much more as a native functionality of the platform.

Another outcome has been the increased level of automation, with more and more of the bank’s activities being automated. MONETA now has the ability to create on-demand releases by supporting principles of Continuous Integration and Continuous Delivery (CI/CD).

Modern centralised hub Automation capability

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The result

Testimonial

Business benefits

Mitra has helped MONETA during its digital transformation by building a platform that can deliver the types of services it needs to make it more competitive

in the Czech Republic’s market of modern banking and support its agile development. MONETA can now focus on building market-leading digital capabilities

and satisfy the increasing demand for modern services inside the organisation.

Faster, more responsive deployment made possible by decentralised, agile and parallel development

Business focused and demand led releases by supporting the principles of Continuous Integration and Continuous Delivery (CI/CD)

Paved the way for the bank to work towards its 2020 target to be a digital leader

Seamless migration from legacy to cloud and hybrid solutions enabled

Use of modern transaction standards

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UK | AUSTRALIA | SRI LANKA | GERMANY

innovate@mitrai.com | +44 (0) 203 908 1977 | www.mitrai.com

“Working with Mitra Innovation has truly enabled MONETA to further its digital transformation aspirations. It has been apleasure in working with the Mitra team, whose work has created such a huge difference to the organisation and the future of MONETA. Without Mitra, we simply wouldn’t have been able to achieve what we have for our customers and for that, I thank them.”

“”

Vladimir Klein, CIO