Company: Confidential
Location: Abu Dhabi
Employment Type: Full-time
Posted: 16 hours ago
Description:
Job Overview:
The Bank Digital Wallets and Banking-as-a-Service (BaaS) IT Business Analyst is responsible for analyzing, designing, and implementing digital wallet solutions and BaaS platforms that enhance the bank’s digital product offerings. This role will work at the intersection of technology and business, ensuring that digital wallet systems and BaaS platforms are user-friendly, secure, scalable, and compliant with banking regulations. The IT Business Analyst will collaborate with cross-functional teams to define business requirements, translate them into technical specifications, and ensure the integration and smooth operation of digital wallet solutions and BaaS APIs across banking systems.
Key Responsibilities:
Requirements Gathering and Analysis:
• Work closely with business stakeholders, including product managers, digital banking teams, compliance, and IT, to gather and document requirements for digital wallets, BaaS platforms, and other related digital banking services.
• Understand market trends, customer needs, and business goals to define and develop digital wallet and BaaS product offerings.
• Translate business requirements into clear technical specifications for IT development teams.
• Create and maintain business requirements documents (BRDs), functional specifications, use cases, and user stories.
Digital Wallets Development and Integration:
• Design and implement digital wallet solutions that allow customers to store, transfer, and manage various forms of digital currencies, payment methods, and loyalty points within a secure, easy-to-use platform.
• Work with IT teams to integrate digital wallet solutions with the bank’s core banking systems, payment gateways, mobile applications, and third-party service providers.
• Ensure digital wallets support a variety of payment methods (e.g., debit/credit cards, mobile payments, cryptocurrency) and work across different channels (e.g., mobile apps, web portals, POS systems).
• Conduct testing and troubleshooting to ensure digital wallet solutions function correctly, meet business requirements, and offer a seamless user experience.
• Focus on enhancing wallet features such as security (e.g., multi-factor authentication), transaction tracking, instant fund transfers, and user notifications.
Banking-as-a-Service (BaaS) Platform Design and Implementation:
• Define and document the technical requirements for BaaS platforms that offer APIs for third-party developers to create new banking products and services.
• Collaborate with the API development and integration teams to design flexible, scalable, and secure BaaS solutions, enabling external fintech companies, merchants, or third-party partners to leverage banking infrastructure.
• Ensure BaaS APIs are well-documented, easy to use, and aligned with industry standards (e.g., Open Banking APIs).
• Manage the integration of BaaS platforms with the bank’s existing systems, ensuring smooth data flow, compliance with banking regulations, and secure customer transactions.
Security and Compliance:
• Ensure that digital wallet and BaaS solutions comply with industry security standards, including data encryption, secure authentication, and PCI DSS (Payment Card Industry Data Security Standard) compliance.
• Work closely with the compliance team to ensure digital wallet and BaaS systems comply with regulatory frameworks, such as GDPR, KYC (Know Your Customer), AML (Anti-Money Laundering), and other relevant financial regulations.
• Conduct risk assessments and implement security features such as two-factor authentication (2FA), biometrics, and fraud detection tools to ensure secure transactions within digital wallets and BaaS platforms.
• Monitor and stay updated on relevant changes in regulations that may affect digital wallet and BaaS offerings, ensuring the bank remains compliant.
System Integration and Testing:
• Oversee the integration of digital wallet and BaaS platforms with the bank’s core systems, such as payment processing, mobile banking, and customer relationship management (CRM) systems.
• Work with development and QA teams to test new features, integrations, and platform updates.
• Ensure systems are scalable and reliable, and test for performance, security, and load handling in live environments.
• Define and manage user acceptance testing (UAT) processes for digital wallet and BaaS solutions, ensuring they meet business objectives and user expectations.
Data Analytics and Reporting:
• Collaborate with data analytics teams to develop dashboards, reports, and key performance indicators (KPIs) that track the performance of digital wallets and BaaS products
• Monitor transaction volumes, user engagement, and product usage to provide actionable insights for improving services.
• Analyse trends in user behaviour, transaction data, and system performance to suggest features or improvements to enhance customer satisfaction and operational efficiency.
Product Lifecycle and Continuous Improvement:
• Manage the end-to-end lifecycle of digital wallet and BaaS solutions, from ideation and development to launch and continuous improvement.
• Gather feedback from stakeholders, including customers, business teams, and third-party partners, to identify areas for improvement.
• Stay informed about industry trends, emerging technologies, and competitor offerings in digital payments, fintech, and BaaS to ensure the bank’s products remain competitive.
• Propose and prioritize features or upgrades that can enhance user experience, increase customer adoption, and improve operational efficiency.
Stakeholder Collaboration and Communication:
• Serve as the primary point of contact for business stakeholders on digital wallet and BaaS-related initiatives, ensuring clear communication and alignment of expectations.
• Communicate project status, milestones, and risks to senior management and cross-functional teams.
• Provide support and guidance to the business on the strategic direction of digital wallet and BaaS services, ensuring they align with the bank’s broader digital banking strategy.
Training and Documentation:
• Develop training materials and user guides for internal teams and external partners on the use of digital wallets and BaaS platforms.
• Provide training sessions to business users and stakeholders on new features, product updates, and operational processes.
• Maintain comprehensive technical documentation for digital wallet and BaaS systems, including system architecture, APIs, workflows, and user guides.
Project Management and Support :
• Collaborate with project managers and IT teams to ensure that projects are delivered on time, within scope, and meet business objectives.
• Assist with project planning, resource allocation, and milestone tracking to ensure successful project execution.
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