Enabling world-class "Digital by Default" banking services

Hay | FinTech | Appian | Intelligent Automation | Automation Strategy

The Vision

Hay is a born in the cloud fintech headquartered in Australia. It offers mobile-first money management solutions to suit changing lifestyles of Australians. A full-featured digital transaction account and Visa card enables its customers to have better clarity through enriched payment data, make instant payments, easily track monthly spending and manage travel budgets with no foreign exchange or transaction fees - all in the convenience of a single smartphone app.

Jason Latham, Chief Technology Officer at Hay, set out with an objective to deliver a world-class experience to customers by creating a robust operational banking infrastructure that would support their new banking app. They wanted a system that would support (not hinder) their ability to rapidly evolve & iterate – designed in a manner that allows them to change, update and test new features, processes or capabilities in hours, not weeks.

Create world-class customer experiences
Hay wanted its customers to be able to securely open an account in less than 5 minutes. This would differentiate them from traditional providers where customers are used to waiting for days if not weeks for information.

Make back-end operations slick - Hay wanted all data to be secure yet available at the fingertips of account managers. All transactional workflows in the back end were to be automated enough to provide a fast, seamless experience for the customers.

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Ensure security and compliance – The solutions would automate the checks required to carry out the due diligence before new customer onboarding or a process called Know Your Customer (KYC).

Provide banking solutions that fit modern lifestyles Hay wanted to make everyday transactional needs faster and mobile. This infrastructure would create a central hub for all customer data. It would enable the operations team to streamline customer service based on trusted information.

“Hay aimed to deliver a world-class banking experience to its customers which required a world class app and a world class back-office. Convedo has helped create a “single pane of glass” to cover transactional banking and fraud, using Appian, to support.”

Chief Information Officer, Hay

The Solution

Having a robust back end for managing financial service workflows was critical for achieving the above objectives. Hay had chosen Appian as the product that best suited their requirements. However, their search for the right partner to implement the solution ended with convedo. Hay had a clear vision – but needed a partner that was prepared to work with us on defining and iterating the solution as the implementation evolved – convedo showed the willingness to work with Hay’s evolving needs and requirements as we very quickly built out a full suite of operational capabilities.

Both convedo and Hay's operational team have since worked together to develop the transaction platform. A collaborative approach meant that the UX of the system matched the way the customer service team envisioned using it. The project was delivered using agile methodology and enabled:

Centralised Customer records management 

The platform brings together all customers records, so the customer journey is clear. Also, customer service teams can deal with problems at the point of contact. It also empowers customer teams to take immediate actions and react to customer needs instantaneously.

Automated case management 

Appian workflow automation has been used to help Hay scale with ease. The system does the heavy lifting in different aspects. For example, with case management, the solution is built to intelligently indicate to the customer service team their next best action to take.

All customer information at your fingertips 

Integrating systems is a big challenge for banks, and this is where even some of the big banks resort to Excel spreadsheets. convedo added value with their process consulting experience and considered the users of the system, the methods and the tools or assets which will be affected. The platform now enables managers to have all customer information at their fingertips.

Fool proof security and fraud management

Hay wanted to be cutting edge and digital but at the same time wanted to build in processes that ensured the security of the customers details and funds.  convedo has utilised Appian automation and workflow capabilities to work along with Featurespace to provide this capability.

“A truly digital banking experience for our customers would count for little if we are unable to service our customers’ needs and operational issues with the same level of transparency and efficiency. The implementation of Appian with convedo has allowed us to build the foundations to do this both now and as we grow and scale up.”

Chief Operations Officer, Hay

The Results

convedo have used their process automation expertise and worked with Hay’s team to develop this single-pane-of-glass back office at inception.

  • Hay is proud of basing its services on a platform that is better than or would match a tier-1 banking system.
  • Successful launch of the Hay app and digital transaction account in line with tight timelines
  • convedo’s development work on the Appian platform is part of the robust transactional infrastructure that Hay has built to provide a seamless – new age mobile money management solution to its customers
  • It empowers teams at Hay to provide a service like no other bank and make money management safe, secure and straightforward.

    Visit www.hellohay.co or head to the App Store or Google Play to find out more and join the waitlist to secure your place as a Founder.

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