Financial services

The challenge

A revolutionary financial technology company offers customers more than 70 digital financial services in its mobile app including credit cards, digital banking, and the possibility to make purchases with cash back. They were faced with the challenge of securely integrating a new insurance product offering for customers – one that would require connectivity to a vendor’s system – without utilizing modern APIs.

“Without a partner that utilized APIs to do integrations, we expected to deliver in six months. Thankfully we started talking to Digibee in January, and in March we launched the service.”

– FinTech Product Manager

The Objective

• Launch the new release and added functionality in a quick time frame
• Add functionality to contract a new insurance product 100% digitally in app
• Increase revenue by adding an additional product to the company's existing line of insurance offerings
• Create seamless integration between digital platforms for successful customer transactions and connected process flows

The plan

By creating an integration layer that transmitted data between the fintech platform and the insurance company, information flowed effortlessly and securely between the two companies operating in different systems. Data was successfully passed back and forth including customer contracts, validations of proposal data, and confirmation of receipts.

The Outcome

Digibee completed the integration without needing to replace an entire legacy system. We shortened the project timeframe and delivered on results early, while ensuring the highest quality of service for the customer.

The project was delivered in half the expected time. Even with the additional challenge of the insurance partner not using APIs – making communication between systems extremely difficult – the objective was achieved along with several results:

• Daily sales higher than all other insurance products in the same segment
• Expected increase of more than 50% in daily sales
• Growth of 10% on average in total payment volume per month

>> Book a personalized demo with our team of experts and see how Digibee’s iPaaS will bring efficiency to your business.

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