Google Cloud Platform Case Studies ACH Colombia's Transfiya: Revolutionizing Financial Transactions with Google Cloud

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	ACH Colombia's Transfiya: Revolutionizing Financial Transactions with Google Cloud Google Cloud Platform

ACH Colombia's Transfiya: Revolutionizing Financial Transactions with Google Cloud

Google Cloud Platform

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
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. Read More
About 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. Read More
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. Read More Log in to view content
Contents

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

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.

About 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.

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.

Impact #1	The launch of Transfiya has significantly transformed the way users handle their financial transactions. The service has become a crucial tool for users, allowing them to manage their financial matters without leaving their homes. This has been particularly beneficial in the context of the COVID-19 pandemic, where social distancing and confinement measures have been implemented. The use of Google Cloud has enabled ACH Colombia to deliver efficient services to their clients, with the service available 24/7 across all regions of the country. The company has also managed to secure the support of a significant group of financial entities that operate in the country, which is a testament to the effectiveness and reliability of the service. Looking ahead, ACH Colombia plans to continue growing and working with more entities to strengthen Transfiya services and incorporate more cloud technology tools to enhance user experiences.

Impact #1

The launch of Transfiya has significantly transformed the way users handle their financial transactions. The service has become a crucial tool for users, allowing them to manage their financial matters without leaving their homes. This has been particularly beneficial in the context of the COVID-19 pandemic, where social distancing and confinement measures have been implemented. The use of Google Cloud has enabled ACH Colombia to deliver efficient services to their clients, with the service available 24/7 across all regions of the country. The company has also managed to secure the support of a significant group of financial entities that operate in the country, which is a testament to the effectiveness and reliability of the service. Looking ahead, ACH Colombia plans to continue growing and working with more entities to strengthen Transfiya services and incorporate more cloud technology tools to enhance user experiences.

Benefit #1	More than 3,900,000 transfers made
Benefit #2	Over 2,000,000 user accounts
Benefit #3	Average of 18,000 daily transactions

Benefit #1

More than 3,900,000 transfers made

Benefit #2

Over 2,000,000 user accounts

Benefit #3

Average of 18,000 daily transactions

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Overview

ACH Colombia's Transfiya: Revolutionizing Financial Transactions with Google Cloud

Operational Impact

Quantitative Benefit