The Business Need

A fast-paced data solutions provider to several financial institutions professional firms and corporation, whose primary focus of operations were on locating and presenting critical risk and compliance details pertaining to Know Your Customer (KYC), Anti Money Laundering (AML), and other reference data services reached out to us, when they required the solution to integrate external sources into their Regulatory Compliance platform (RC).

Mobito provided a feasible functionality to tightly integrate these web sources within the client’s RC platform to fetch the required real-time information in an automated manner.

Challenges

Through careful evaluation, the quality goals were identified, and the limitations challenging the process were addressed. Concurrent requests to the integrated sites had to be handled and responses had to be delivered in real-time with a maximum TAT of 60 seconds. The platform had to be up and active round the clock for 5 business weekdays servicing requests with valid information rather than site timeouts or errors.

Solutions

Our cloud-based web crawling platform Mobito was configured and set up as “Platform as a Service” (PaaS). This enabled the Regulatory Compliance platform to ingest relevant content from a multitude of public sources to complete the KYC process. The platform was integrated with the client software through REST API Endpoints and requests and responses were in XML format.

Integration with Message Oriented Middleware to distribute input was found highly viable and processed millions of requests in auto-scale mode. Thus more than 200 requests were processed per minute.

The platform also supported I18N Request formats and a REST API was made available for seamless integration with other third-party applications.

We also put in place a dashboard to monitor the job status, reports, trends and stats with a 24/7 support system from our side.

Results

Upon integrating Mobito into the client’s platform, the overall process efficiency took an impressive upgrade. Prior to this, there was a long time taken to enquire against multiple websites. Upon the successful integration of Mobito into the client’s platform, our bots began efficiently managing the back-end processes. As a result, the customer was able to complete their interrogation process in under 30 seconds to query against multiple websites and collect required data on a real-time basis.