Client

Eurogiro, a pioneering payments network, connects various payment ecosystems, including postal organizations, post banks, commercial banks, and other payment service providers. It focuses on facilitating cross-border, high-volume, and low-value payments. Eurogiro, works as part of Inpay A/S, and seamlessly bridges the physical and digital worlds by offering a range of traditional and modern services. Their services are shaped by extensive member engagement to ensure relevance and effectiveness. With a global reach encompassing over 500,000 branches across all regions, Eurogiro serves both urban centers and rural areas, providing comprehensive payment solutions, from electronic network access using universal standards to multilateral agreements with consistent service levels.

Challenge

Taking over legacy fintech products requires highly skilled engineers with substantial experience in managing legacy projects. As the world continues to advance technically, fintech products need to keep their technologies up to date to enhance their applications and support existing functionalities in the modern world. This domain is typically complex and demands in-depth knowledge in banking and finance, combined with expertise in technology stacks. Banking clients often prefer locally-installed applications over multi-tenant cloud applications, leading to challenges in maintenance, version upgrades, and supporting customer-specific requirements.

Solution

We embarked on a digital transformation journey to modernize all applications, restructure the architecture to handle increased workloads, and ensure optimal performance. We prioritized security, complying with stringent norms and standards for money transactions and sensitive data in both local and client countries. We introduced automatic application maintenance, error reporting, and monitoring, along with semi-automatic upgrades for customer applications to maintain a high level of security. The transformation involved shifting the entire network to the cloud.

The Eurogiro financial platform represents the next generation of open payment systems, empowering postal organizations to participate actively in financial services, both locally and globally. It is offered as a white-label, integrated turnkey solution, accessible through the cloud and API. The platform includes clearing and settlement services, AML (Anti-Money Laundering) compliance, sanctions screening, back-office reporting, and other essential services to offer a complete suite of Postal Financial Services. We have created a solution which will embrace automatic settlement system with certain banking institution along with solution for KYC and screening functionality. The big challenge was to support all the law requirements for all the countries that our transactions reach. We are committed to uphold and comply with all legal requirements aimed at preventing and combating any kind of breach within law that may concern money transactions, GDPR and any other similar requirement.

Eurogiro platform supports large bandwidth of all messages and transactions that traverse through system and it can be scaled easily. It boasts a strong foundation and well-designed architecture, ensuring robust performance and functionality. Qinshift has provided both architectural and legal solution based upon his expertise.

Benefits

Qinshift provided a skilled team that successfully modernized the entire application stack within an efficient timeframe. Our customers received robust support, high-performance applications, and a dedicated team capable of addressing any challenges that arose.