“EMI Installments” are experiencing increased demand worldwide, as they deliver significant value to all participants in the payments ecosystem. Financial institutions, digital giants, social platforms, and third-party service providers are leveraging real-time payment technology to offer a variety of solutions, including person-to-person (P2P) payments and business-to-consumer (B2C) disbursements.

Currently this facility is provided only by large public and private sector banks on selected e-commerce vendors only. This leaves large number of banks and e-commerce sites, who would want to offer this facility to their customers but do not have the scale to do so.

Banks already use such services to get the data scrubbing done to run pre-qualified offer campaigns for various products like EMI on debit card, personal loans, home loans etc. In case of debit card EMI offers, after getting the scrubbing done, banks get into one-to-one arrangement with e-commerce companies to run campaigns on this database. The Client is providing a platform where we will hold the database on the bank’s behalf and run the campaign for them.

We recognize that consumers are adopting electronic easy payment options to an increasing extent, reflecting the greater convenience of electronic funds transmission. Hence we exhibit our sincere interest in the domain by building the most efficient and robust solution available in the market for the client.

We are helping across use case refinement, product management, AWS Cloud Architecture and Services, API based integration with banks, e-commerce companies and internal applications and Python based business logic.

The proposed Solution is an AWS cloud based, flexible platform which is expected to scale as the idea evolves. Oneture agreed to engage the combination of product manager, full stack architect and developer(s).

In the platform, pre-qualified customer data provided by banks along with policies as required by them and e-commerce players connected on this platform can query for offer availability for any customer that comes on their website or mobile app.

Along the journey of implementing Platform and API Integration for the client, we learned the following lessons:

• Integrating with third-party API’s and proprietary frameworks can be a time consuming task. It’s better to go through the requirements and documentation carefully before investing time in the integration process.
• Fewer developers can often produce more: small hand-picked teams are often the most innovative and productive, hand-pick your team in the same way that you would if you were the client / owner
• Build for future scale: you might not need scale on day one but you should design your implementation for future growth and additional workloads.