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AWS-based mobile banking app for the largest Lithuanian credit union 

The mobile banking market has momentum and does not plan to slow down. As 1/3 of the population uses mobile banking daily, the experts forecast the number of mobile banking users to hit 3.6 billion worldwide by 2024. It definitely signals financial institutions to mark mobile banking or its optimisation as one of their priorities (if they have not done that yet).

Moreover, nearly 40% of customers use mobile banking apps as the primary banking method – showing a huge (and growing) customer demand to run various banking operations right in their palms. It also gives another reason for financial institutions to speed up their mobile banking game.

Although not all companies rush to enable their mobile banking journeys, we are glad to be a part of one of them – you are welcome to read a case study on a newly presented mobile banking solution for the largest Lithuanian Central Credit Union (LCCU) that comprises 44 unions throughout Lithuania and forms the LCU Credit Union Group, serving over 121 thousand customers across different country regions.

Faced mobile banking demand

Within 25+ years of activity, the LCU Credit Union Group has been successfully offering various financial services, such as deposits, loans, payments cards, e-banking, money transfers and a wide network of customer service locations for credit union members.  

Uniting a significant part of Lithuanian credit unions, LCU Credit Union Group quickly acknowledged the risen number of customers who use e-banking services. Yet, they did not have a mobile banking app. It naturally grew the demand to kickstart their mobile app development project, for which they needed a technology-powered partner. 

Here, the FinCell team stepped in. We carefully analysed client’s and its end-users needs, proposing a white-label mobile banking solution project, which was successfully accepted by the LCU Credit Union Group. 

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Enabled mobile banking solution

Tightly partnering with the LCU Credit Union Group team, we developed a NextGenPSD2 directive and Berlin Group standard-based mobile banking solution. It guarantees that the new mobile app meets the required technical and organisational measures since the product links to the central LCU system via an open API. 

All needed security and compliance measures integrated into the smart app were backed by ISO 27001. Moreover, the CISSP and CDPSE-certified developers covered different LCU end-users needs by enabling smooth UX design and rich mobile banking app functionality. We presented the LCU Credit Union Group customers with a unique mobile banking app on Google Play (Android), and App Store (iOS). 

LCU mobile banking application is a cloud-based solution that runs on the AWS public cloud. This ensures LCCU gets their highly secured and scalable isolated infrastructure consisting of AWS EC2, EKS, ELB, KMS, SNS, S3, DynamoDB, and CloudWatch cloud services. 

Created business value

Using cloud-native technologies, we ensured efficient management of mobile app infrastructure and enabled cost optimisation for the client. 

Beyond that, LCU Credit Union Group ‘s mobile app‘s private and business users can easily access their payment accounts. Just with a few fingertips, private app users can check their account balance, make payment transfers, review the list of made payments view cards and run day-to-day mobile banking operations.  

Following the partnership with the client, we plan to extend the existing functionality and expand different banking service accessibility for business users soon. 

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