ACH Colombia's Transfiya: Revolutionizing Financial Transactions with Google Cloud
Technology Category
- Application Infrastructure & Middleware - Blockchain
- Networks & Connectivity - NFC
Applicable Industries
- Equipment & Machinery
- Finance & Insurance
Use Cases
- Construction Management
- Machine to Machine Payments
Services
- Cloud Planning, Design & Implementation Services
About The Customer
ACH Colombia is a financial services company that was established in 1997 as an Authorized Clearance Chamber. The company was created in response to the interest of financial entities in offering new services to their clients. ACH Colombia provides a range of services, including interbanking transfer services in lots (ACH transfers), online interbanking transfers (Transfiya), Online Secure Payment Button (PSE), Integral Management for Online Payment (Pasarela PSE), and Information Operation Service (SOI). The company operates with the aim of providing solutions to the financial industry, promoting financial inclusion among users, and breaking down barriers between financial entities and clients.
The Challenge
ACH Colombia, a financial services company, was established in 1997 with the aim of providing solutions to the financial industry and promoting financial inclusion among users. Over the years, the company has delivered several services, but it identified a new need among Colombians: the ability to send, receive, and request money easily and immediately, without having to leave their homes. This need became even more pressing in the context of social distancing and preventive confinement measures against the spread of COVID-19. Furthermore, ACH Colombia faced the challenge of delivering a 24/7 service across all regions of the country, and needed to ensure that the service was accessible to unbanked users. The company also wanted to promote the use of e-money to reduce costs, decrease the use of cash, and increase the security of transactions.
The Solution
In February 2020, ACH Colombia launched Transfiya, a new service developed with the help of Google Cloud. Transfiya uses technologies such as blockchain to enable users to make transfers quickly and securely. The service also promotes the use of e-money. To deliver a 24/7 service and ensure scalability, ACH Colombia needed a cloud-based infrastructure. The company partnered with Minka, an open banking platform built on the cloud, and began using Google Cloud tools to provide the secure, reliable, and scalable infrastructure that Transfiya required. With Cloud Load Balancing, Transfiya was able to be available in different areas. App Engine ensured the scalability of the solution, while Firebase, Cloud Run, BigQuery, and Google Cloud operations tools enabled secure transactions and monitoring actions.
Operational Impact
Quantitative Benefit
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