SilverNet Financial Systems is a leading provider of banking and financial management applications, offering a variety of financial solutions that enable full integration with ERP and core organizational systems, as well as streamlining the unification of financial data from several sources.
As part of its process of digital transformation, Migdal, Israel’s largest insurance company, sought a solution to fully automate its payments system and allow the receipt of payment instructions from any ERP system. The company requisitioned SilverNet to develop an organizational application for automatic payment handling (V.payment).
Magic xpa is a low-code, multi-experience platform that streamlines dynamic processes, delivers rich user experiences and adds value to brand recognition. Quick to create and deploy complex applications, Magic xpa’s value proposition is based on the combination of four key strengths:
- Easy, Low-Code Platform: Does not require highly-skilled personnel or a high-level of expertise for operation, eliminating the development of thousands of code lines by creating application logic and seamlessly integrating it into pure Angular code.
- Agile & Fast Development: Allows the involvement of business owners, stakeholders and non-technical people in the development process, ensuring fast time-to-market.
- Large-Scale Applications: A web application framework that combines Magic’s enterprise-rate technology with Angular state-of-the-art client-side technologies, for the development and maintenance of large-scale Angular applications with thousands of UI components and a simple code structure.
- Enterprise-Ready: Securely connects and integrates with any system in order to utilize and monitor relevant internal and external data.
The original SilverNet application was developed in the Magic xpa platform. The new version was developed on Magic xpa based on Angular, in order to provide a full stack, end-to-end response. During the conversion, the system retained all business logic and existing knowledge on the development tools (including connectivity to the database, module separation, permissions system and business logic). Furthermore, since the Angular solution is automatically generated, programmers were able to focus on implementing the UI and advanced design solutions.
Since going live in Migdal a few months ago, the system has performed hundreds of daily transactions in shekels and foreign currency. The project includes installation in the secure and complex environment of a large financial organization, and interfacing with a range of systems, as well as the V.finance system from SilverNet to manage liquidity and cash flows.