Transferring to an Upgraded Integration Platform
MoneyGram International, Inc., a money transfer company based in the United States, provides access to financial services for consumers and businesses around the world.
INVESTING IN NEW TECHNOLOGY TO SUPPORT GROWTH
MoneyGram’s services help people send money anywhere in the world quickly, reliably and affordably.
A new technology platform was needed to support rapid growth into new markets as well as rapidly changing global regulatory requirements.
As the company grows internationally, evolving compliance transformation initiatives and regulatory challenges across the globe called for a new technology platform to keep up.
Cashing in on a New Platform
Big Data Hush enhanced MoneyGram’s existing integration platform, building a comprehensive, streamlined solution with business process management (BPM), SOA, and API management technologies. The overall solution was comprised of multiple components:
Established a Center of excellence (CoE) built with BPM software to ensure development according to best practices. The CoE defined processes to streamline and automate on-boarding of new resources, governance, documentation, and new application development.
Migrated code from a proprietary system that handled all business logic for sending and receiving money, creating seamless integration and routing.
Built a business rules management system (BRMS), entailing the development of rules logic to manage the processing of both real-time and batch transactions.
Defined the reference architecture for the integration platform built on best practices for development of integration solutions.
Developed a configuration-based integration framework which ensured easy and seamless integration of components with considerably reduced development time and little coding.
Implemented API management solutions to enable fast, secure integration with third parties and partners while protecting end customers.
“The new platform gives us optimized functionality throughout all departments, which improves MoneyGram’s productivity and performance, ultimately helping everyone in the company ‘Make Money Transfers Easier’ for our customers, which aligns perfectly with our mission statement.”
– Wayne McGurk, Chief Information Officer, MoneyGram
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New Integration System Pays Off
The new integration platform helps MoneyGram optimize its business processes in multiple ways, including:
Ability to more quickly and efficiently respond to fraud and global AML statuses
Established standardized methodologies, governance, templates, and frameworks for enhanced security
Reduced development effort by 50%
Significantly reduced development costs
Improved data quality
Improved performance of existing code
Accelerated time to market with faster development and integration
Expedited third-party integration and communication
Enabled agile new product launches through an improved SOA-based integration infrastructure