ExcheQ

The challenge

Utilize brand new technology to build a Instant Payments feature for an existing app by working closely with the client to resolve technology challenges and meet banking industry standards.

ExcheQ is a payment app that has supported traditional ACH transactions—electronic bank-to-bank transfers that are finalized on a next-business-day basis. They wanted to upgrade the experience and committed to being the first-to-market with a cutting-edge, person-to-person (P2P) Instant Payment feature that sends money in real-time without the need for third parties or additional accounts. Making it happen called for a clear technology roadmap, a redesign of administrative functions, and a partner who could quickly learn new industry requirements.

What we did

• Quickly immersed in and absorbed knowledge of banking industry standards and procedures.
• Added specially designed testing scripts allowing us to identify and resolve inconsistencies between existing and new API environments.
• Handled changes to API flow with high responsiveness and real-time collaborations with stakeholders.
• Integrated the Instant Payments feature with ExcheQ’s partner, Open Payment Network (OPN), to make calls to FedNow® and the RTP® network.
• Developed an automated pipeline that builds code, tests the build, and publishes the new code automatically in approximately five minutes.
• Provided the client with a fully functioning app that can be used to secure funds from partners and potential investors, growing the app’s market share.