Building a Cashless Ecosystem: CMC Global's Fintech Success Story in Malaysia

In the dynamic landscape of Fintech, striking a balance between customer-centric development and robust app security is paramount. At CMC Global, we understand the need to constantly innovate and introduce new features that cater to evolving user needs. However, this innovation must go hand-in-hand with unwavering security practices to safeguard both user data and the overall system's resilience.

Here's how we achieve this balance in our projects with a Malaysia-based fintech - a subsidiary of one of Asia's largest multinational telecommunications conglomerates.

Challenges Faced?

Our client encountered formidable challenges that impeded the optimization of its e-wallet ecosystem, stunting its growth potential. These hurdles included:?

• Lack of Resources: Insufficient manpower hampered progress.?
• Management & Coordination Issues: The absence of streamlined management hindered efficiency.?
• Domain Expertise Deficiency: Expertise gaps complicated solution development.?
• Regulatory Compliance Concerns: Meeting regulatory standards posed a significant challenge.?

Our Solution?

To address these challenges head-on, CMC Global embraced a hybrid team model. This approach, characterized by an initial governance team and subsequent expansions as per project requirements, facilitated efficient resource allocation and cost optimization without compromising on quality. Key roles within this hybrid team included Solution Architects, Technical Leaders, DevOps Engineers, Business Analysts, and Test Leaders.?

The Solution in Action?

With our solution in place, merchants gained a powerful tool to track business operations and growth while facilitating online payments and purchases. CMC Global spearheaded various initiatives:?

• Development and Integration: New features were seamlessly integrated into a superapp and business portal, enabling functionalities like billing for expenses, connecting with merchant wallets, and managing business licenses.?
• Maintenance Support: Post-deployment, we provided comprehensive maintenance support, including UAT, regression testing, and API testing.?
• CICD Pipeline Implementation: To meet tight schedules, we implemented a robust CI/CD pipeline, ensuring rapid development and deployment while maintaining control over quality and metrics.?
• ISMS Compliance: Frequent reminders and checkpoints ensured adherence to ISMS compliance standards.?

Results?

The impact of our collaboration has been nothing short of remarkable:?

• Two fully functional, end-to-end applications launched with active users
• New projects with modern development stacks planned for immediate commencement
• Critical core system fixes successfully implemented, overcoming previous roadblocks
• 40% increase in monthly transaction volume
• 50% user acquisition growth
• 95% compliance rate, minimizing risks and fostering stakeholder trust?

By leveraging its expertise and a collaborative hybrid team approach, CMC Global empowered the client to achieve significant growth and streamline their e-wallet ecosystem. This successful project serves as a testament to CMC Global's commitment to driving innovation and fostering growth in the Fintech landscape. Together with our partners, we continue to push boundaries, creating solutions

Contact us today to learn more about how we can help your fintech business achieve its digital transformation goals!

-------------------

CMC Global Company Limited

?? 7 – 10F, CMC Tower, 11 Duy Tan Street, Dich Vong Hau Ward, Cau Giay District, Hanoi, Vietnam

?? +024 71016 000

?? +84 24 3212 3396

??CMC Global - Leading software development company since 1993

?? [email protected]