The client, a pioneer in introducing online banking to the Australian market, found the existing legacy-based application inadequate when it came to coping with rising customer expectations. Along with a local Australian partner, Pegasus InfoCorp helped restructure and revamp the existing application by introducing a multi-channel platform, which could cater to several channels, including the Internet. The revamped application provided numerous other business functionalities to the customers, including the facility to pay bills online. The client is a leading global financial services company with three business units: Private Banking, Corporate and Retail Banking, Insurance and Investment Banking. Private Banking offers advice as well as wealth management products and services to high net-worth clients in Australia and other markets worldwide. Corporate and Retail Banking offers banking products and services to corporate and retail clients through various channels. Investment Banking performs the function of a financial intermediary for global, institutional, corporate, government and individual clients.


Though our client is a market leader in offering online banking to its customers, as competitors started catching up, the client wanted to completely transform the way in which it provided these services. The client wanted to leverage its strong customer base to create an additional revenue stream, while offering customers extended services. With the availability of multiple channels for interaction with customers, it was necessary to have a common platform for seamless flow of information. All this was becoming increasingly difficult, as the client’s existing system was based on legacy technology and architecture.


Pegasus InfoCorp, along with our Australian partner, was introduced to restructure and revamp the existing application architecture and develop applications on a Multi-Channel infrastructure, which would cater to several channels, including the Internet. A phased approach was decided upon and the Online Banking service was to be introduced in a set of multiple releases.

The primary onsite engagement in Australia was conducted by our partner who has a strong local presence and has partnered with us over the last 5 - 10 years on several projects. The complete offshore engagement and development in India was managed by Pegasus InfoCorp at our software development centers in Mumbai and Pune. The offshore team of 25 resources comprised primarily of project leads, technical leads, senior software engineers and QA engineers

Our team worked as per Australian work timings, to facilitate easy communication between the onsite and offshore teams. For managing the entire project delivery, the team used Jira as a project management tool for both onsite and offshore work management.

With ready access to a huge customer base, the client was in an ideal situation to introduce the Electronic Bill Presentment and Payment Services – the first release taken up by Pegasus InfoCorp. Subsequent releases included Safekeeping, Portfolio Management, Payments, File Transfer and Security Trading functionalities.

As this was a huge business transformation exercise, functional experts (business analysts) from Pegasus InfoCorp worked with the client’s business team early in the engagement, to elicit and define requirements.

We undertook an extensive analysis to understand the client’s functional, non-functional and technical requirements. It also mapped the project implementation and management processes followed by the client to its CMMI Level 5 processes, to develop a client-specific customized process framework.

On the technology front, architecture teams decided to use the industry standard advanced J2EE Framework, which is a component-based, service-oriented, layered architecture approach suiting middleware-based applications development. In all the architecture and design-related decisions, the primary focus was to add maximum value by using a mix of best-of-breed solutions, while ensuring seamless integration with existing client systems.


  • Creation of an additional revenue stream: The Electronic Bill Presentment and Payment (EBPP) functionality was introduced, which provided the bank’s customers with new services and helped the client derive significant revenues from the same.
  • Service-oriented architecture: The client could expose individual business processes across multiple channels, as per business demands, to their customers.
  • File transfer: With the removal of the system of direct delivery of files to the clearing house, file transfer to banks assumed even more importance. Online Banking further facilitated corporate customers by enabling them to deal with thousands of payments together and route them online to the bank.
  • Time to market: There was a significant reduction in the time required to extend new services and functionalities to customers.
  • Payments: An improved version of the Payments functionality, the backbone of any Australian financial institution, made online payments faster and more convenient for the customers.
  • Portfolio and wealth management: Customers could have a cross-sectional view (based on geography, currency and maturity) of their assets.

Overall, the client has been very satisfied with the project delivery and the results achieved! We look forward to continue partnering with the client to build the next phase of implementation of the application and platform.

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