Xac Bank is a Mongolian banking and financial services company headquartered in Ulaanbaatar with 86 retail branches across Mongolia. XacBank was created as a result of a merger of the two largest NBFI’s in Mongolia, “Goviin Ekhlel” and “X.A.C”, in late 2001. Since then, XacBank has maintained its lead position in Mongolia as a transparent and socially responsible financial corporation.

XacBank’s vision is to become the preferred bank for a wide range of customers in Mongolia’s financial market by providing digital banking services for new and existing customers. To do so, the bank partnered with i-exceed for their Appzillon solution – a low code application development platform.

i-exceed technology solutions is a Fintech company that helps the global leading banks and financial institutions deliver enhanced user journeys for customers and staff. They do this with Appzillon, their flagship offering that consists of Appzillon Digital Banking and Appzillon Digital Banking Platform.

Implementation Process:

i-exceed designed, developed, integrated, and implemented the internet and mobile banking application for Xac Bank customers and back-office users. The project followed a unique development approach to build screens, controllers, and integration adapters automatically from enterprise service definitions. Additionally, i-exceed made use of micro-app-architecture design that breaks down features in an app into granular yet fully functional units that are reusable and modular. There were integrations with many third-party systems – core banking system, DAN (Government system), E-Sign (Tridium), FIMI (TranzWare) Cards integration, Sharepoint – Microsoft, SMS Gateway, SMTP, Qpay, LDAP. All teams adhered to timelines while maintaining high quality deliverables and dealing with the cultural, time zone and language challenges.

Benefits:

Xac Bank, with the help of i-exceed, upgraded its offerings and saw several benefits.

• Customer can access to a variety of features such as loans, deposits, payments, transfers.
• Host of other features on their internet and mobile banking applications.
• Multi-factor authentication capabilities introducing checks and validations on device id, OTP, transaction PIN.
• Robust and performance driven scalable architecture was adopted to support secure interactions and high volumes.

Conclusion:

Xac Bank adopted industry standard technologies by implementing the Appzillon Digital Banking Platform. The bank was able to offer open, secure, and scalable banking products and services to their clients. This was a right step in the direction towards a modern digital transformation.

Key Facts

Supplier: i-exceed
Headquarters: India
Solution: Appzillon
Timeline: N/A