Archway's Innovative Banking Solutions with Mendix and AWS
Technology Category
- Infrastructure as a Service (IaaS) - Public Cloud
- Platform as a Service (PaaS) - Application Development Platforms
Applicable Industries
- Buildings
- Finance & Insurance
Applicable Functions
- Logistics & Transportation
- Product Research & Development
Use Cases
- Inventory Management
- Last Mile Delivery
Services
- Cloud Planning, Design & Implementation Services
- Testing & Certification
About The Customer
Archway Software was born from the Innovation Lab of WaFd Bank (previously known as Washington Federal Bank). Dustin Hubbard, now President at Archway, served as WaFd’s CTO from 2019 through 2022. Hubbard selected Mendix and with 4 developers delivered WaFd’s online banking portal in just 10 months. The success of this project sparked several new ideas for Hubbard’s team. In December of 2022, Archway formally spun out as an independent software vendor (ISV) in the Mendix ecosystem. Today, Archway offers banking innovation as a service across three pillars: developing great client experiences with adaptable solutions for online banking, back office bank management, call center management, operating on a common architecture, and unifying data.
The Challenge
Regional banks play a crucial role in the economic health of communities by offering greater access to funding and personalized services. However, over the last two decades, these institutions have found it increasingly difficult to compete with larger national banks due to customer demand for more convenience and digital touchpoints in banking, and their lack of IT expertise to deliver them. Large national banks have hundreds of people dedicated to software development and can make up for their lack of personal client relationships by offering sleek, easy-to-use applications. This has become particularly important in a post-COVID era, where digital convenience often overshadows the personal touch of in-person banking. Regional banks are at a crossroads – their lean IT budgets are hardly enough to develop enterprise-grade software with traditional code, and commercial-off-the-shelf solutions are typically restrictive.
The Solution
Archway Software, spun out from the innovation lab of a regional bank, aims to level the playing field by providing financial institutions with adaptable solutions in a timeline, price point, and delivery model that addresses the gaps in their software development abilities. Archway’s solution offerings are built on enterprise-grade technologies such as the Mendix low-code platform and AWS, enabling their customers to achieve a 4x faster delivery for solutions such as customer banking portals and Customer 360 dashboards. Archway offers an alternative to the build vs. buy quandary – investing in adaptable solutions – where 80% of a solution is based on a common architecture which can be reused across various organizations, and the remaining 20% can be adapted through customization, extensions, or integrations. Archway also provides access to enterprise-grade technologies like Mendix and AWS, hosting all of their solutions on AWS, either by way of the Mendix Public Cloud or Amazon EKS.
Operational Impact
Quantitative Benefit
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