Based in the Czech Republic and one of the leading providers of banking and financial services to retail and commercial clients in the SME segment, Moneta Money Bank (Moneta) has over a million clients, more than 200 branches and operates over 650 ATMs across the country. In 2017, Moneta embarked on an ambitious digital transformation journey designed to make the bank more competitive. The vision included increasing market share by providing online services, increasing the major products sold online by 40% and becoming a digital leader in the banking marketplace by 2020.

Moneta’s legacy Oracle FlexCube platform, although providing a reliable database and core banking applications supporting around 40 million calls a day, didn’t allow decentralised, agile and parallel development.  Maintenance of the system, as well as Integration with other applications and platforms had become difficult, time consuming and expensive. The lack of support for Open APIs, meant development of an integrated, seamless customer experience across channels could not be achieved without moving platforms.

Moneta chose WSO2, a global, open-source enterprise platform and methodology for integrating platforms and systems, and after a rigorous selection process appointed Mitra Innovation, a Premier Integration Partner to manage their digital transformation project. We proposed an enterprise-class, scalable solution that would allow Moneta to realise their vision of a fully integrated, seamless, secure customer experience.

Moneta partnered with Mitra Innovation to transform its middleware stack using WSO2’s integration platform, rolling out its Enterprise Service Bus (ESB) and Application Program Interface (API) Manager. The new architecture, designed, built and deployed by Mitra’s WSO2 systems experts, eliminated many pain points for Moneta. It resolves integration issues, provides a common API layer for all applications, delivers centralised identity management and access control and has enabled the creation of an app ecosystem. With Mitra maintaining the platform, Moneta can ensure information integrity and security, high levels of performance with a scalable response to customer and market driven innovation. Moneta have achieved their vision of providing a seamless, responsive and multi-channelled customer experience with improved customer engagement and retention, painless digital transformation of a legacy system into a fully integrated, scalable, secure, state of the art solution.