Angular-based Magic xpa Enables SilverNet to Develop a New Version of its Flagship Solution for Managing Payments in Israel’s Largest Insurance Company

BACKGROUND
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.

 

CHALLENGE
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).

 

SOLUTION
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.

"“The development was done on Angular, on the Magic xpa platform. Migdal is in fact the first company using the upgraded version, but in view of the successful results, other large Israeli customers have already purchased the version, including organizations with global activity. The next stage is to transfer all our customers who are using our payment system to the new application.”"

Iris Gefen
Deputy CEO for Customers in Silver.Net

The Angular technology is one of the strongest technologies available for front-end development, but at the same time it is complex. The client web solution from Magic combines the simplicity of Magic’s low-code development with the technological power of Angular, leading to an optimal solution for front-end development at low cost.

"“The move to electronic transfers brings real efficiency to many organizations that are currently experiencing intensive digital transformation – processes which have been further accelerated by Covid and working from home. We are happy that SilverNet chose Angular technology from Magic, which provided a convenient and simple way to write all the organizational processes on one platform.”"

Yuval Lavi
CTO, Magic Software Enterprises

RESULTS

  • Fast implementation of customized ERP solutions, because Magic xpa is an easy-to-use, low-code tool that bridges the talent gap for highly-skilled developers.
  • Programmers able to focus on UI implementation and advanced design solutions.
  • Agile and fast development, ensuring fast SilverNet time-to-market for all ERP solutions developed for its customers.
  • Investment-proof ERP software providing companies with complete transparency across all business areas and significantly improving efficiency and quality.
  • Customized software that enables companies to decide on the scope of services and functions of the new ERP solution, and the fast implementation of changes according to new demands or regulations.

 

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