Bank. A Disruption outside the Core. Building a ba
Two years ago, INVEX partnered with Raven to tackle the challenge of digitizing its banking operations. Together, we explored opportunities for transforming banking and discovered the necessity for a cutting-edge solution aimed at retail banking. This led to the development of a Neo bank tailored to the lifestyles and needs of a new generation. We constructed the bank from scratch, focusing on areas such as product design (UX/UI) and market strategy formulation and implementation, while enhancing internal capabilities to ensure long-term viability. Our offerings encompass digital account opening, money transfers, both digital and physical wallets with debit and credit cards, utility bill payments, savings accounts with personalized objectives, account and household management, and provision of account statements. We integrated essential technologies like the WSO2 API platform, native app development for both iOS and Android, quality assurance automation, continuous integration/continuous deployment (CI/CD), and utilized the Jira Cloud for software development management. The partnership between INVEX and Raven has led to significant achievements in the initial months following the market launch, with over 58,000 registered users, more than 15,000 social media followers, and upwards of 506,000 transactions, along with the issuance of over 18,000 debit cards. We launched our minimum viable product (MVP) in just nine months, gaining over 22,000 users on our waiting list within the first two weeks. Notably, 60% of users made deposits on their first day while 25% are classified as "frequent users." Both INVEX and Raven are dedicated to fostering innovation and driving digital transformation.