Global Payment Solutions

With the world getting more global and transactions are moving online, companies must adapt to make their global transactions cost-efficient and risk-free.

A Fortune 500 financial institution has a requirement to design a new workflow to allow its customers to perform multi-currency payment hassle-free. However, with the complication of holding customers’ funds in Nostro accounts, the financial institution must come up with an innovative approach to provide multi-currency payment for the customers using their complex web of legacy back-office systems and workflows.

GoodLabs, with its expertise in foreign exchange and payment, was invited by the financial institution to collaborate with the internal team to perform an exploratory investigation to design the new workflow. Our subject matter experts work closely with various business units and technology teams to identify essential back-office processes and workflows. In order to design a new seamless experience for the customers to perform multi-currency payments, the GoodLabs SME team manages to hide the complexity through an innovative currency exchange across multiple Nostro accounts.

GoodLabs, together with our client, builds a better and more cost-effective tomorrow with advanced software engineering.