SGA Drives the Introduction of New Functionality for the Treasury Platform of a $70 B Financial Services Client
Through the Development of an API Platform, SGA’s Consultant Added Vast Functionality to The Client’s Market-Leading Treasury Solutions Platform, Which Has Received Recent Public Praise.
What Are Treasury Services?
Treasury services are a key set of services offered by an investment bank, which typically includes transaction (making and receiving payments) and portfolio data/reporting services for its clients. The consumption of external treasury services for The Client’s customers is significant because The Client has developed applications that can operate faster, and more accurate than legacy systems, in addition to providing full lifecycle management of the provided service. Presently, The Client’s treasury services have received high-praise from its customers, and SGA has been able to play a large role in this success.
What Are APIs?
Simply put, APIs allow separate applications to share data with each other. API development is a key process for many LOB, especially ones which provide a service for external partners or ones that need to gather data from other internal departments. An API (Application Program Interface) allows two applications to effectively share and return information, in an effort to complete a task. For example, in the case of retrieving the weather at a certain ZIP code – one application may allow for the entry and display of weather at the desired ZIP code, while another may collect and house data for weather at all active ZIP codes. In this case, an API would be used to carry the ZIP code entered from the first application to the second, find the current conditions, and display that back to the user in the first application.
The Client’s Problem
As The Client’s treasury platform grew and became more popular, the need for synergy between internal applications and other sources arose. The development of individual APIs is not overly complicated for a large investment bank, however once the client base increases and the services offered develop, there may be many complex APIs called simultaneously, creating a slow running transaction or complex maintenance of the code. For The Client, the need for a clean and robust API solution became apparent.
Utilizing SGA’s development consultant, an API platform was developed and has been recognized as a state-of-the-art integration platform. Through the solution, customers are able to integrate The Client’s treasury platform into their workstations regardless of location, and thus have seamless access to their instantly processed services. SGA’s Consultant had responsibilities including development utilizing Drupal, PHP, MYSQL, Jenkins and Shell script, while working with a team of 11 other resources performing tasks related to UI, UAT, and Product Resources.
After almost 20M API calls and counting, the benefits of this project have been largely realized by The Client. They’ve been able to provide improved and more efficient services for their customers, who have publicly gone on record leaving positive testimonials concerning the offerings. SGA’s Consultant has also received high praise from his managers regarding his work on the project, and was viewed as an integral development force that allowed the project to be delivered on time. As a whole, the development of this solution will have positive financial implications through customers and maintenance, in addition to time savings for developers who maintain the new solution.