A Mass Payout Platform

About the project

A multi-product platform for mass event-based payouts, which can be used by both businesses and individuals. With it, all payments are made securely in terms of not only technology but also reputation.

Business idea

The customer approached Andersen as a trusted and top-ranked provider of software development services. As such, we were entrusted with developing a mass payout platform that would enable quick and easy batch payments for clients across different sectors: global insurance payouts, financial services, global pension payments, and legal-related payments.

Project scope

• Moving existing products to a new multi-product platform;
• Developing a range of new products;
• Automating compliance check journeys.

Architecture

• AWS Lambda functions and a serverless framework to scale specific capabilities and optimize costs;
• Event-driven architecture with the usage of EventBus, based on SNS and SQS, to decouple multiple domains and microservices;
• Data analytics with an Amazon S3 data lake and AWS Kinesis;
• E2E testing with Cypress and Cucumber;
• Performance testing with Artillery;
• An API-first approach with both internal and external API gateways and the BFF pattern to decouple and separate various concerns.

Platform functionality

• Onboarding and verification of counterparties (KYC, KYB, AML, etc.);
• Fund management;
• Reconciliation;
• Handling of contingent payouts;
• Support for payments made via virtual cards;
• Mass disbursements (the throughput is over 500,000 transactions per 15 minutes);
• Reporting and analytics;
• Admin portal;
• External user portal.

Project results

• Process automation that has resulted in significantly reduced time and effort required to handle use cases;
• Successfully implemented MVP.