Elevating Core Banking Software: Our Partnership with Finnova AG Bankware

Finnova is the leading Swiss banking software manufacturer with more than 400 employees. It is supporting around 100 customers from the financial services sector in Switzerland and in the Principality of Liechtenstein.

Challenge

Finding high-quality software developers with a particular set of skills is very hard. When you add the requirement that they must be able to speak and work in German, it’s even harder. Being a leader in digital transformation in the banking sector, Finnova’s software development team is a very valuable asset in the company.

However, Finnova struggled to find qualified PL/SQL developers who would work on development of new features and maintenance and improvement of existing features and modules of their software. They were looking for a partner who could provide them with a stable team with adequate skills and knowledge that was easily extendable. Those German-speaking developers would work together with their internal team.

‍

Solution

In our team, we have highly skilled and knowledgeable PL/SQL developers that passed Finnova’s criteria. They only had to learn German. That is why they took a three months intensive German language course in Serbia.

After they successfully finished it, they started collaboration with Finnovas’s team of developers.

Together with colleagues from Finnova, our developers are working on improving and adding new functionalities to different modules of Finnova’s software.

The modules of their software are:

• Loan advisory,
• The core banking system,
• Money Market (Treasury),
• Investment banking, which includes Portfolio Management system and Stock exchange

Process

One of the projects our team worked on together with Finnova’s developers was a development of the new module for verification and processing of stock exchange orders.

In today’s productive system, the presence of a stock market order on the Finnova’s stock exchange module database is a prerequisite for the order to be validated. B2 is a module used for the stock exchange operations. In order to be able to validate an order, it must have been previously saved in the exchange system. This practically means that the old system had to record the stock exchange account in its database in order to validate it.

In the early days of Finnova there was only the Finnova UI (user interface) as the order entry system. Whenever a new order was entered in the Finnova order entry mask and wanted to be validated, it first had to be saved before it was validated by the system. Over the years, however, additional order entry systems have been added.

With Internet banking, mobile, PMS (property management system) etc. various systems have emerged, all of which have the need to only be able to validate orders in a first step. Based on the validation results, the user of such systems should then be able to decide in a second step whether he wants to enter the order or not.

The new module makes it possible for the third parties to send a request to Finnova’s system for verification and send it to the broker through the REST service. This means that any client who has its own application can connect to Finnova’s stock exchange module and use it.

Our developers were working on a feature of this module which allows Finnova’s clients to do verification of various relevant stock exchange data.

This module will replace the old system which couldn’t respond to the demands of the modern stock exchange market and technologies.

‍

Results / Effects

The new module enables Finnova’s clients to conduct thousands of stock exchange data checks of technical information, precisely, accurately, and in a matter of seconds.

The new module:

• Can be sold individually, unbound from the rest of Finnova’s software and other modules
• Can validate the stock exchange account without recording it into the database
• Works faster

‍