The Business Need
A fast-paced data solutions provider to several financial institutions professional firms and corporation, whose primary focus of operations were on locating and presenting critical risk and compliance details pertaining to Know Your Customer (KYC), Anti Money Laundering (AML) and other reference data services reached out to us, when they required the solution to integrate external sources into their Regulatory Compliance platform (RC).
Mobius provided a feasible functionality to tightly integrate these web sources within the client’s RC platform to fetch the required real-time information in an automated manner.
Challenges we faced
Through careful evaluation, the quality goals were identified, and the limitations challenging the process were addressed. Concurrent requests to the integrated sites had to be handled and responses had to be delivered in real-time with a maximum TAT of 60 seconds. The platform had to be up and active round the clock for 5 business weekdays servicing request with valid information rather than site timeouts or errors.
How we solved the problem
Our Cloud-based Web Extraction Platform Mobito was configured and setup as “Platform as a Service” (PaaS). This enabled Regulatory Compliance platform to ingest relevant content from a multitude of public sources to complete the KYC process. The platform was integrated with the client software through REST API Endpoints and requests and responses were in XML format.
Integration with Message Oriented Middleware to distribute input was found highly viable and processed millions of requests in auto-scale mode. Thus more than 200 requests were processed per minute.
The platform also supported 18N Request formats and a REST API was made available for seamless integration with other third-party applications.
We also put in place a dashboard to monitor the job status, reports, trends and stats with a 24/7 support system from our side.
"Mobius’ cloud-based Web Extraction Platform (Mobito as PaaS) enabled our regulatory compliance platform to ingest relevant content from multitude of public sources seamlessly to complete the KYC process, which otherwise would be a time-consuming process to manually visit the various sources to obtain this information for the users of our platform. Mobito is integrated with our regulatory compliance platform through rest API and has many bots (setup and deployed) running to process the web harvesting requests coming through the regulatory compliance platform and responds with results in 60 seconds."
Product manager at a compliance and risk management company
Upon integrating Mobito into the client’s platform, the overall process efficiency took an impressive upgrade. Prior to Mobius' stepping in, there was a long time taken to enquire against multiple websites, but upon successful integration of Mobito into the client’s platform, our bots began efficiently managing the back-end processes. As a result, the customer was able to complete their interrogation process in under 30 seconds to query against multiple websites and collect required data on a real-time basis.