Varnix Technologies partnered with a major European bank to design and implement an advanced card processing ecosystem and a next-generation digital banking platform. Leveraging Oracle Financial Services technologies, we delivered a scalable, modular, and secure infrastructure capable of processing millions of daily transactions across debit, credit, and prepaid cards.
Business Challenges
- Legacy card processing systems with limited throughput and outdated security mechanisms.
- Need for multi-card support (debit, credit, prepaid) and seamless connection to global card networks.
- Growing demand for a modern, customer-centric internet banking experience.
- Compliance with strict security and regulatory standards (PCI DSS, PSD2, SCA).
- Requirement for multi-device compatibility and biometric authentication.
Implementation Approach
Phase 1: Requirements & Architecture Design (Month 1–2)
- Conducted stakeholder workshops to capture business requirements.
- Defined modular system architecture for card processing, enabling plug-and-play scalability.
- Selected Oracle Financial Services components to ensure high performance and resilience.
- Developed a security-by-design strategy covering encryption, 2FA, and compliance.
Phase 2: Core Card Processing Platform Development (Month 3–5)
- Built a transaction processing engine with support for debit, credit, and prepaid cards.
- Implemented real-time fraud detection and risk-scoring algorithms.
- Developed integration connectors for third-party networks (Visa, Mastercard, local processors).
- Configured batch processing and settlement modules for reconciliation.
Phase 3: Digital Banking Platform Engineering (Month 6–8)
- Designed a responsive, user-first web and mobile interface.
- Enabled multi-device compatibility (desktop, mobile, tablets).
- Integrated biometric authentication (fingerprint, Face ID).
- Implemented self-service capabilities: account overview, payments, card management.
- Embedded personalized dashboards and alerts powered by analytics.
Phase 4: Security & Compliance (Month 9)
- Achieved PCI DSS compliance for card data security.
- Implemented two-factor authentication (2FA) and adaptive login rules.
- Configured SCA (Strong Customer Authentication) as per PSD2.
- Conducted penetration testing and vulnerability scans.
Phase 5: Go-Live & Stabilization (Month 10)
- Phased rollout of card processing across multiple regions.
- Gradual migration of customers to the new digital banking interface.
- 24/7 monitoring during the hypercare period.
- Conducted training for bank employees and delivered technical documentation.
Project Outcomes
- High-Performance Card Processing: Achieved capacity of 1M+ transactions per day with sub-second response times.
- Seamless Multi-Card Support: Debit, credit, and prepaid cards fully integrated into one ecosystem.
- Regulatory Compliance: Full alignment with PCI DSS, PSD2, and GDPR.
- Enhanced Security: Introduced biometric authentication, 2FA, and fraud monitoring.
- Modern Digital Banking Experience: Customers gained access to intuitive, fast, and secure online and mobile banking.
- Operational Efficiency: Reduced transaction failures by 35% and improved uptime to 99.99%.
Key Takeaways
This project showcases how Varnix Technologies combines Oracle Financial Services expertise with modern digital banking design to deliver a complete solution for secure card processing and next-generation banking platforms.
