Building One of the Largest Mobile Banking Apps in the Eastern Europe
Credit Bank of Moscow is one of the largest private banks in the Eastern Europe with more than 90 billion USD worth of assets. Credit Bank of Moscow offers mobile banking services, as well as investment banking.
In summer 2021 CBM faced a major challenge - they needed to scale the team and introduce a multitude of new services as mobile banking became more than simply transferring money between clients.
The problems CBM faced were:
‣ Outdated technologies and codebase
‣ Architecture, that made simultaneous development of new features problematic
‣ Lack of ability to reach business goals and keep pace with the most modern mobile banking solutions, which could lead to a rapid decrease of customer satisfaction level
Our developers were integrated into the existing mobile development teams and led the investment application development. To support more modern technologies that enable significantly faster and bug-free development, our team initiated the incremental process of modular architecture integration, as well as the migration of the iOS project's codebase from Objective-C to more up-to-date and better supported Swift language.
After 7 months of development roughly 50% of the iOS codebase was converted to Swift, new features are being implemented 2 times faster than prior to the architectural changes.
The investment product team, led by our senior developers, launched multiple trading features, including:
‣ Portfolio management
‣ Asset trading
‣ Investor verification
‣ The core client-server interaction architecture, which allows error-free and secure data transfer
Mobile banking team has also carried out numerous updates to the banking app, such as :
‣ Client-to-client money transfer
‣ Gas station payments functionality
‣ Payments framework, which is used to be integrated into third-party applications