Development and Implementation of a Modern Credit Simulator for a Leading Romanian Bank
Overview
The project involved developing a Corporate Credit Simulator for a leading Romanian bank, aiming to enhance the credit assessment process for corporate clients. The bank’s existing tool, an Excel-based application, was outdated, difficult to use, and lacked integration capabilities with the bank’s existing systems. The tool’s limitations included a lack of user-friendliness and an inability to support a structured pricing approval workflow. Additionally, only one individual had comprehensive knowledge of the tool, and there was no existing documentation, posing a significant risk to the continuity of the process.
The challenge
The primary challenge was replacing the old Excel-based tool with a more robust, integrated application. The bank needed a system that was not only user-friendly but also capable of integrating seamlessly with their current systems to facilitate a pricing approval flow. The absence of comprehensive documentation and reliance on a single person for knowledge transfer further complicated the transition. This scenario posed risks related to knowledge continuity and operational efficiency.
To address these challenges, the project focused on developing a new application built on modern, scalable technologies. The solution aimed to:
01
Creating a user-friendly interface
This would streamline the process of inputting pricing parameters, making it easier for users to determine acceptable loan pricing.
02
Integration with existing bank systems
Handling sensitive information such as CVs and personal data was a significant concern. BOLG needed to establish robust security measures to protect user data from unauthorized access and cyber threats.
03
Including a price estimation flow
This would enable users to finalize simulation prices and generate offers efficiently.
03
Reducing the dependency on specialized knowledge
The integration capabilities ensured that the application could fit into the bank's existing IT ecosystem, supporting seamless data flow and operational processes.
Technologies
The development of the Corporate Credit Simulator utilized a robust tech stack to ensure reliability, scalability, and ease of maintenance:
- Backend Development: The backend was developed using the Spring Boot framework, a popular Java-based framework known for building microservices and robust APIs. This choice facilitated the creation of a flexible, secure, and efficient backend system.
- API Specifications: The application employed Swagger specifications, defined in Swagger/OpenAPI YAML, to design and document the APIs. This ensured clarity and consistency in API development, making it easier for developers and stakeholders to understand the application’s API architecture.
- Frontend Development: The frontend was built using Angular 14, a modern web application framework. Angular’s component-based architecture provided a modular, maintainable, and dynamic user interface.
- Build and Source Management Tools: The project used Jenkins and GitLab for continuous integration and continuous deployment (CI/CD), enabling automated builds, testing, and deployments. This setup improved development efficiency and reduced the time to market.
- Data Access: PostgreSQL, a powerful open-source relational database, was used for data storage. Its robust performance and scalability made it an ideal choice for handling the bank’s data requirements.
- Runtime Platform: The application was deployed on RedHat OpenShift, a Kubernetes-based platform that provides a secure and scalable environment for running the application.
The Team
The project was executed by the Synergo Group, comprising a multidisciplinary team of experts:
- Tech Lead: Led the technical strategy, architecture, and overall execution of the project.
- 2 Backend Developers: Focused on building and maintaining the backend APIs and services, ensuring robust and scalable server-side functionality.
- 2 Frontend Developers: Responsible for the user interface, implementing a responsive and intuitive design that facilitated a seamless user experience.
- 1 Business Analyst: Worked closely with the bank’s stakeholders to gather requirements, define business processes, and ensure that the developed solution met all functional and non-functional requirements.
The team’s collaborative effort ensured the successful delivery of a comprehensive and integrated solution that met the bank’s needs for a modern, efficient, and user-friendly Corporate Credit Simulator.