Sirma’s Innovation Drives DMobile’s Multibanking Success by Empowering Digital Banking and delivering a seamless user experience.
Overview
D Commerce Bank is a dynamically developing Bulgarian bank that specialises in offering reliable and flexible individual solutions to its clients following the most modern business standards, technologies, and banking practices. As they navigated clients’ requirements, they saw the need to upgrade their mobile banking app with new functionality that offers a comprehensive overview of their finances.
Sirma has helped D Commerce Bank’s DMobile app to shed new light on the digital banking landscape, earning the prestigious “Innovation in Mobile Banking” award for its Multibanking functionality. This innovative feature, developed in collaboration with Sirma, empowers users to effortlessly manage their finances across multiple financial institutions within a single, intuitive app. It also leverages the power of Open Banking, allowing users to conveniently manage accounts issued by other banking or payment institutions from Bulgaria, Greece, Romania and other countries directly within the DMobile app. This eliminates switching between multiple apps, providing a unified and streamlined banking experience.
Project Scope
Sirma is the primary technology partner of D Commerce Bank’s mobile banking solution, and the project itself is divided into multiple stages. As a part of Phase 2 of the project, Sirma’s team worked closely with the bank team to develop and integrate the Multibanking functionality into the DMobile app. This comprehensive project involved:
- API Integration – Seamlessly connecting with APIs delivered by a local Open Banking Third Party Provider to retrieve account information, initiate Account to Account transactions, check transaction history, easily manage consents with the other Payment Service Providers (PSPs) and ensure real-time updates.
- Customer Experience — All development operations were synchronised with the client’s request to maintain the principles of visualisation and functionality already established in DMobile despite the diverse datasets collected by other institutions.
- User Interface Design – Creating a user-friendly and visually appealing interface that allows users to easily add and manage multiple accounts, view consolidated balances, and initiate transfers.
- Security Implementation – Implementing robust security measures to safeguard sensitive user data, including encryption, authentication, and fraud prevention mechanisms.
- Performance Optimization – Fine-tuning the DMobile app’s performance to deliver a seamless and responsive user experience, even under heavy load.
- Regulatory Compliance – Ensuring strict adherence to regulatory requirements, such as PSD2, RTS, Berlin Group and BISTRA technical standards, to guarantee secure and compliant operations.
Main Challenges
One of the primary challenges was developing a solution that could seamlessly integrate banking data retrieved by various banking systems, each with unique structure and security protocols. Additionally, ensuring a seamless user experience while maintaining robust security measures was a critical consideration. Lastly, crafting user-friendly functionality that empowers users to manage their finances efficiently with features designed to be clear, accessible, and convenient was also vital.
Delivery
The project delivery was a smooth process, with 10+ developers working on it in a span of half a year. A combination of multiple programming languages and frameworks were intertwined into the new app’s functionality including Java, JUnit, Oracle, Android Java + Kotlin, iOS Swift & Swift UI. Sirma’s team successfully delivered the Multibanking functionality in the DMobile app by:
- Leveraging Open Banking Standards – Adhering to industry standards to ensure compatibility and interoperability with diverse banking institutions.
- Prioritizing User Experience – Designing a simple and intuitive user interface that minimizes user effort and maximizes efficiency.
- Ensuring Data Security – Implementing robust security measures, including encryption and authentication, to protect sensitive user data.
- Optimizing Performance – Fine-tuning the app’s performance to deliver a lightning-fast, responsive experience.
- Agile Development Methodology – Employing agile development methodologies to ensure flexibility, adaptability, and rapid iteration.
Results
The successful implementation of Multibanking has yielded significant benefits for D Commerce Bank and its customers, especially in enhancing user experience by utilising a unified platform for managing multiple accounts, hence simplifying financial management. By implementing this new functionality, D Bank saw increased customer satisfaction as they gathered feedback confirming the improved convenience of Multibanking, as well as better efficiency and control over customers’ finances. Account aggregation is also a powerful tool for D Bank to create more personalised and customer-tailored products and services.
The Multibanking experience gives D Bank a competitive edge by differentiating its offerings, which sets the DMobile app apart from other banking applications. The innovative Multibanking feature has even been recognised by winning the “Innovation in Mobile Banking” award at the Next DiFi awards.
Sirma and D Commerce Bank Partnership
Sirma’s partnership with D Commerce Bank is a testament to our commitment to delivering innovative technology solutions. By combining our expertise in digital banking with D Bank’s vision for a customer-centric approach, we have created a truly exceptional mobile banking experience. This collaboration exemplifies the power of strategic partnerships in driving digital transformation in banking while simultaneously delivering value to customers.
„It’s always a pleasure to work with professionals and there is no doubt that Sirma’s colleagues are reliable and flexible partner. The most valuable part of this project for me is that humans work for humans to develop better digital services, leading us to the utmost result - satisfied clients. The real value to developing innovative solutions is to improve everyone’s life – so this is not just a business project, it is a state of mind.“
Preslava Mungova, Head of Digital Services and Call Center at D Commerce Bank
