July 14, 2023

A near real-time data streaming platform enabling new services to quickly hit market

With nearly 900,000 customers and 2300 employees, Luminor is the third largest provider of financial services in the Baltic states. After undergoing a merger, the company needed to unify multiple different systems and services. The result was a streaming pipeline with near real-time data sharing that allowed Luminor to build and launch multiple new services in record-time.

Industry

Financial Services Insurance

Challenge: Modernizing the entire technical infrastructure

Luminor was born from the merger of two banks in three countries – each with their own organizational and technical infrastructure. This meant that the operations of six different institutions had to be unified to provide a consistent experience for customers. One of the biggest challenges was modernizing the entire technical platform so that new services could be introduced quickly. The goal was to create a state-of-the-art bank for the Baltic states by building a data stream that would allow seamless communication between the bank’s core systems.

Solution

We built a streaming pipeline for Luminor’s data platform that enables near real-time data sharing between multiple services. This solution also decouples the bank’s different systems, uniting them all into one single ecosystem without creating any hot spots in system load on the bank’s core.

Impact

By enabling near real-time data sharing between the various systems, Luminor is able to quickly bring new services to market without having to wait on the bank’s core to implement required API’s. The platform has allowed Luminor to launch a new online banking solution, a mobile app, and numerous other services.

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for operative data to reach all systems

Cloud kafka decoupled, scalable architecture

Third impact no.

Fintech for fluid environments

Change in the financial services sector is constantly accelerating and isoccurring at every level: customer behavior, macroeconomic, regulatory, and of course, technology. We are expert in navigating this complex landscape, helping clients make difficult choices that create a better customer experience.

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