Digital banking interface
FinTech Case Study

NextGen Digital Banking
Platform

Revolutionizing traditional banking with AI-powered solutions that increased customer engagement by 300% and reduced operational costs by 45%.

300%
Customer Engagement Increase
45%
Operational Cost Reduction
6 Months
Development Timeline

Project Overview

Our client, a traditional regional bank with over 2 million customers, was facing declining customer satisfaction and increasing operational costs due to outdated legacy systems and manual processes.

spheratic was tasked with creating a comprehensive digital transformation solution that would modernize their banking operations while maintaining the highest security standards and regulatory compliance.

AI-powered fraud detection and prevention
Personalized financial insights and recommendations
Seamless omnichannel banking experience
Real-time transaction processing and notifications

Project Details

Client Regional Banking Corp
Industry Financial Services
Duration 6 Months
Team Size 12 Specialists
Budget $2.5M

The Challenge

Legacy System Limitations

Outdated mainframe systems causing slow transaction processing, frequent downtime, and inability to integrate with modern digital services.

Declining Customer Satisfaction

Customer satisfaction scores dropped to 2.1/5 due to poor digital experience, long wait times, and lack of personalized services.

Rising Operational Costs

Manual processes and inefficient systems resulted in 40% higher operational costs compared to digital-first competitors.

Security Vulnerabilities

Increasing fraud attempts and security breaches due to inadequate fraud detection and outdated security protocols.

Poor Mobile Experience

Lack of mobile-first design and functionality resulted in 70% of customers preferring competitor apps for banking needs.

Regulatory Compliance

Difficulty maintaining compliance with evolving financial regulations while modernizing systems and processes.

Our Solution

We developed a comprehensive AI-powered digital banking platform that addressed all key challenges while ensuring seamless migration from legacy systems.

AI-Powered Core Banking System

Built a modern microservices architecture with AI at its core, enabling real-time transaction processing, intelligent fraud detection, and personalized customer experiences.

  • Machine Learning fraud detection
  • Real-time transaction processing
  • Predictive analytics for customer insights
  • Automated risk assessment

Omnichannel Digital Experience

Created a unified digital experience across web, mobile, and in-branch touchpoints with personalized interfaces and seamless data synchronization.

  • Native iOS and Android apps
  • Progressive Web Application
  • Voice banking integration
  • Biometric authentication

Technology Stack

React Native
Node.js
Python
PostgreSQL
AWS Cloud
Docker

Measurable Results

The platform delivered exceptional results within the first year of deployment, exceeding all initial performance targets.

300%

Customer Engagement

Increase in daily active users and session duration

45%

Cost Reduction

Operational cost savings through automation

95%

Fraud Detection

Accuracy in identifying fraudulent transactions

4.8/5

Customer Satisfaction

Average rating in app stores and surveys

Customer Engagement Growth

Cost Savings Over Time