Aus fintech company launches cloud native microservice

Appian has announced that Hay, the Australian headquartered fintech company, has launched its 'Hay-as-a-Service' (HaaS) solution with the support of the Appian Low-Code Automation Platform.

Hay-as-a-Service is designed to provide fast, secure and customisable financial services processing for financial and non-financial businesses.

The solution is supported by a low-code automation platform and as such is able to deal with the complexities of managing its services at scale for its clients, the company states.

The HaaS solution offers one modern API frontend for individual companies to enhance their customer experience, the company states.

As a pure microservice, cloud native offering it includes a range of configurable and flexible microservices modules, such as accounts and core banking; payment processing and management; financial crime, data analytics and insights; card services including ApplePay, GooglePay and other digital wallets; loyalty and rewards; and onboarding new customers.

Overall, HaaS has built a single pane of glass using Appian ensuring it has a tier 1 back-office platform to manage its operations that can be developed risk free, at high speed.

Hay chief information officer Jason Latham says, "The move from traditional finance to embedded finance is accelerating across a range of sectors because it gives an organisation more ownership of the entire customer journey.

"The single pane of glass we developed on Appian's low-code platform allows us to manage our platform and our client's embedded finance products with ease, in a low-touch fashion with a minimum of manual effort and intervention. This allows us to concentrate our skilled resources on our HaaS platform."

Appian regional vice president APAC Luke Thomas says, "Hay is leading the way in innovating the FinTech space, both through its Hay retail brand and HaaS solution, by leveraging low-code automation.

"Flexibility and speed are at the core of what Appian provides and we're proud to support Hay in extending their services so other companies across the world can take better advantage of embedded finance."

Appian provides a low-code automation platform to help organisations build apps and workflows rapidly.

HaaS has provided a full suite of transaction services and accelerated timelines for Nano Home Loans, a mobile-first non-bank lender, who launched in Australia last week.

Nano Home Loans CEO and co-founder Andrew Waler says, "HaaS removes the complexity of the payments ecosystem and replaces it with a one-stop seamless solution. It's so fast and flexible that it allowed us to remove upwards of six months of build and integration from our timeline."