Modernizing and Developing a Global Digital Banking Platform

The Client

Our client is a global fintech company with over 30 years of experience delivering solutions to SME banks, digital banks, and electronic money institutions. These businesses require regulatory-compliant banking software and secure infrastructure to meet strict compliance and security standards.

The client’s core banking platform supports critical operations, including credit processing, deposit accounting, risk assessment, and customer relationship management.

The Challenge

When Exoft joined the project, the client’s legacy core banking system upgrade was just starting. If left unaddressed, it could threaten growth, compliance, and uptime.

• From a business perspective, the client could not scale the banking platform. Onboarding new banking partners required custom work each time. Hard-coded logic made it difficult to adapt the platform to different regulatory environments or institution types.
• Organizationally, the complexity of the legacy codebase led to high developer turnover. As experienced engineers left, critical system knowledge was lost.
• In terms of technology, an earlier attempt to modernize the banking software left the codebase partially migrated and difficult to maintain. This increased system instability and exposed the platform to security vulnerabilities.

Our Cooperation & Services

Exoft initially joined as a software delivery team and grew into a long-term technology partner over a 4-year engagement. Our specialists work directly with the client’s internal managers. We became primary knowledge holders and technical architects.

This deep integration meant we were:

• Making architectural decisions
• Managing risks and change requests
• Ensuring the platform could support the client’s commercial growth
• Establishing a development strategy and team stability

As a result, we modernized the core banking platform, reduced operational and security risks, introduced new revenue-generating features, and rebuilt institutional knowledge within the team.

Fintech Platform Modernization

• .NET Framework to .NET migration: We migrated the backend from the legacy .NET Framework to .NET 8, eliminating performance and resource management issues that had accumulated over the years.
• Web Forms to Angular migration: In parallel, we replaced the outdated WebForms frontend with a modern Angular architecture. This way, banking teams received a faster and more intuitive interface.

We also re-architected the core banking platform from a tightly coupled monolith into a modular, shell-based system. New banking partners can now be onboarded using configurable components rather than custom code, reducing implementation time.

Process Automation and Security

We implemented end-to-end automated testing across the core banking system to ensure new releases could be deployed without disrupting live operations. We introduced Docker-based deployments and CI/CD pipelines via GitHub Actions, enabling zero-downtime releases.

Security was systematically strengthened. Previously identified vulnerabilities were resolved, and session management was redesigned to include inactivity-based termination, reducing the risk of unauthorized access.

New Feature Development

We developed several high-impact features that expanded the core banking platform’s capabilities:

• Visual Workflow Editor, a proprietary tool that allows bank administrators to design and manage complex operational sequences (such as KYC onboarding flows or loan approval hierarchies) without developer involvement.
• State Machine Integration Engine replaced hard-coded transaction logic with a unified, predictable flow for different banking station configurations.
• AI-Driven Document Recognition during customer onboarding, enabling instant extraction of data from identity documents and passports, and reducing manual processing time for banking staff.
• Advanced Risk & Relation Mapping with modules for visualizing complex relationships between customers (e.g., identifying related parties or guarantors) and automated risk score calculation.
• Automated Receipt Printing, triggered immediately upon transaction completion, eliminates a manual step that had previously required staff intervention at every banking station.

Institutional Knowledge

The project inherited a systemic knowledge-retention problem: when key people left, critical system understanding left with them. We solved this by building a knowledge base with architecture decisions, common failure modes, and onboarding guides. As a result, new developers can navigate the core banking platform independently.

Solution

The modernized platform is an API-driven core banking system designed to act as the operational backbone for financial institutions. Its modular architecture lets each partner deploy only components relevant to their operations:

• Account and deposit management
• Credit origination and loans management
• Collections and debt recovery
• Risk assessment
• Customer relationship management

Results & Impact

Since Exoft assumed leadership on our subproject, the core banking software modernization initiative has delivered measurable results:

• The client successfully onboarded large international financial institutions, including challenger banks and AAA-rated public finance organizations. They manage portfolios worth tens of billions across several European markets.
• The fintech platform modernization, including the migration of 20+ microservices, was completed without affecting active banking operations.
• The average developer tenure on the project increased from about 3 months to more than a year. This is a direct result of codebase cleanup and structured knowledge transfer.