Background
One of the most beloved brands in Australia, MyBudget has helped more than 100,000 Australians manage their personal finances and live free of money worries. With multiple offices around Australia, MyBudget’s team works with customers to understand their financial situation in depth, by creating personalized spending and savings plans when on-boarding new customers to the service. A mix of online and offline methods are used to drive adherence to these savings and spending plans later.
Challenge
Having mastered the formula for helping people in financial distress improve their spending and saving habits, MyBudget is now looking to expand its service globally. The service needs to be digitized to a great extent to facilitate rapid and efficient scaling. At the same time, banking and financial regulations, as well as privacy concerns of different regions, need to be handled to ensure regulatory compliance. Building this new service (which required overhauling existing digital touchpoints and building new systems to handle hitherto offline processes) was dubbed the ‘Next-Gen Platform’. Having started off as a financial services company MyBudget needed experienced engineering resources to turn this vision into reality.
Engagement
MyBudget’s team got to know about Sri Lanka’s reputation for outstanding software engineering talent and boutique companies offering high-touch personalized services and decided to source a software engineering partner from Sri Lanka. After a lengthy and open search process, where MyBudget sent out an open call for pitches via the Sri Lankan IT industry association, Calcey was selected.
Calcey set up an extended software engineering team made up of dedicated resources to work alongside MyBudget’s tech team in Adelaide, Australia. The two teams initially set down common development standards and practices to ensure smooth collaboration and continuously iterated these processes as they kept working together. Calcey resources were deployed for the NextGen project as well as to tackle business-as-usual (BAU) tasks to support existing systems.
Impact
The augmented team set up at Calcey helped to accelerate the development of MyBudget’s Next Gen platform and provided ready access to a versatile skill pool to draw on, for all technical requirements. A good example of this advantage was the Calcey team’s contribution to overhaul MyBudget’s corporate website and migrate its backend from concrete5 to a more versatile, enterprise-grade content management system (CMS), Magnolia in approximately 8 weeks.
