FinPay provides payment solutions that power the everyday. The multinational organization operates multiple brands across the e-cash, payments processing and digital wallets spectrum, serving over 145 million customers of varying size and scale.
Hours delivered back to the business
SOX compliance in Settlement process automation
Success rate of bot case completion
For functional release of OBT, RTS and OGS
The Challenge
A growing financial services company, FinPay, experienced significant challenges in managing its payment gateways and financial processes after expanding into new markets. The rapid expansion resulted in fragmented data across multiple systems, inconsistent financial reporting, and difficulties in compliance with evolving regulatory requirements.
FinPay relied on manual processes for transaction management, resulting in inefficiencies, delays, and errors in payment processing. The existing CRM and financial management systems lacked the flexibility and scalability needed to support the company’s growth. FinPay needed a solution that would integrate its various systems, streamline operations, and ensure compliance while maintaining a high level of customer service.
What did Nawlabs do?
Nawlabs partnered with FinPay to address these challenges by leveraging its expertise in Salesforce CRM and financial management solutions. The project was executed across three key workstreams: Salesforce Financial Cloud Implementation, Payment Gateway Integration, and Enhanced Data Security.
1. Salesforce Financial Cloud Implementation:
Nawlabs integrated the Salesforce Financial Services Cloud to consolidate all customer and financial data into a single platform. This integration enabled FinPay to automate key financial processes, such as invoice generation, payment tracking, and financial reporting, reducing manual errors and improving operational efficiency. Salesforce’s customizable dashboards and reporting tools were configured to provide real-time insights into financial performance and compliance status.
2.Payment Gateway Integration:
Nawlabs facilitated the integration of multiple payment gateways with Salesforce using MuleSoft Anypoint Platform. This solution allowed FinPay to centralize payment processing for multiple currencies and regions, ensuring seamless transactions and compliance with local regulations. The integration also provided automated reconciliation of payments, reducing the workload on the finance team.
3. Enhanced Data Security:
Given the sensitivity of financial data, Nawlabs implemented Salesforce Shield to enhance data security and compliance. This included encryption of data at rest and in transit, user activity monitoring, and automated alerts for potential security breaches. Nawlabs also set up two-factor authentication and implemented role-based access controls to ensure that sensitive information was accessible only to authorized personnel.
The Results
- FinPay achieved a 40% reduction in manual financial processes and a 30% increase in operational efficiency by automating key functions and integrating multiple systems.
- The integration of payment gateways reduced payment processing time by 50%, leading to faster settlements and improved cash flow.
- Salesforce Shield’s security measures ensured that FinPay met all compliance requirements, reducing the risk of data breaches and maintaining customer trust.
- The integrated solution provided FinPay with the flexibility to scale operations seamlessly as they expanded into new markets, supporting future growth without additional infrastructure costs.
