Gojoko is leading fintech platform providing digital customer interface and advanced digital marketing to banking customers across the United Kingdom. Gojoko elevates community banks and credit unions to help them grow and expand into modern financial institutions by leveraging technology.
The Challenge
Gojoko wanted to build a fully integrated cloud-based digital platform that would enable them to make credit available at fair rates to customers who previously wouldn’t have access to it. The platform would also allow customers to apply for unsecured loans and savings instantly. Gojoko wanted the platform to integrate seamlessly with other aggregators and channels, core banking platforms and direct debit platforms.
The Solution
Persistent leveraged its deep financial services expertise to help build the Community Lenders Gô Digital® Platform on AWS. The platform provided the agility necessary to enable banks and credit unions to design, launch, service and scale banking and lending portfolios.
Persistent delivered a solution called iHUB with exposed REST APIs over AWS API Gateway for integrating with the www.mycommunityfiance.co.uk website and other channels. Persistent also deployed Amazon Relational Database Service (AWS RDS) for MySQL database to offer customized encryption capabilities and high-level availability across different time zones. Additionally, Amazon CloudWatch was implemented to help the client with data and actionable insights across applications and infrastructure resources. It ensured a 24/7 availability of the client’s digital platform across different zones. Moreover, it freed Gojoko from handling time-consuming database administration, backups, monitoring, software patching, etc.
Persistent also set up an admin portal to manage loans flowing in through the website and APIs and provided maintenance support for the existing system.
The Outcome
With the new digital platform, Gojoko has significantly reduced the loan disbursal turnaround time while saving costs. The configurable admin portal allows Gojoko to manage loan portfolios and generate relevant reports. The AWS-powered digital platform also offers credit unions an effective way to leverage a cutting-edge banking platform without significant investments.
Technology Used
- AWS
- Spring
- Hibernate
- MySQL on AWS RDS
- Elastic Beanstalk
- EC2
- CloudWatch
- AWS API Gateway
- SSL
- Certificate Manager
