Case study: Transforming a 15-year-old payment gateway

The burden of technical debt in fintech

In the competitive Financial Technology (Fintech) landscape, speed and agility are paramount. However, many established enterprises are grappling with an invisible enemy: technical debt. Systems built years, or even decades, ago—once sources of pride—have now become burdens that stifle innovation. This is a challenge that The IT Source – a global partner for software development and AI services, with its deep expertise in System Modernization, frequently solves for its global partners. They are not only difficult to maintain but also create significant barriers to integrating with modern partners and meeting contemporary customer expectations.

When an old foundation halts future growth

A leading payment gateway provider in Germany was facing this exact dilemma. Their core platform, built in 2003, was a complex monolithic system based on outdated technologies like PHP, C++, J2EE, XML, and SOAP. This situation created a vicious cycle: any upgrade or bug fix was extremely costly and risky, rendering the company unable to react to market demands. The situation demanded more than a simple update; it required a complete system modernization.

The most severe consequence was that the integration process for new customers had become incredibly complicated, acting as a direct obstacle to business expansion and new revenue streams. Furthermore, operating on an old, self-hosted infrastructure raised significant concerns about performance and security in an industry that demands absolute trust.

A strategic transformation roadmap

Recognizing this was not just a technical upgrade but a complete business transformation, The IT Source took on a strategic role. We provided a 15-member development team perfectly suited for complex Fintech Platform Development and also assumed the responsibilities of the Product Owner, directly helping to shape the roadmap and vision for the new product.

The 3.5-year journey was designed with clear phases to manage risk and maximize value:

• The Foundation (0.5 years): We began by building a Minimum Viable Product (MVP) to replace the core payment functionalities. This approach allowed for a quick launch of a modern version, validating the new architecture and beginning to deliver value to customers early on.
• Acceleration and Expansion (2.5 years): In this phase, the project operated on a full Agile/Scrum model, with a two-week development and deployment cycle. This allowed us to continuously improve the product based on real-world feedback while expanding the system with flexible APIs and SDKs to rapidly meet market demands.
• Autonomy and Sustainability (0.5 years): The final phase was dedicated entirely to knowledge transfer. We trained and fully equipped the client’s in-house team, ensuring they could confidently operate, maintain, and evolve the new platform independently into the future.

Breaking barriers, unlocking growth

The 3.5-year System Modernization project delivered strategic results that fundamentally changed the client’s competitive position. With modern APIs and SDKs, onboarding new partners has become fast and simple, directly driving business expansion. More importantly, we replaced a rigid, monolithic system with a flexible, scalable, and highly secure Fintech Platform. This not only reduced operational costs but also created a solid foundation for the company to confidently innovate and develop new value-added services for years to come.

The foundation for an intelligent enterprise

This project was more than just a software rewrite. It stands as a testament to the fact that a successful System Modernization project is a strategic investment that enables a business to break through invisible limits and build a true foundation for sustainable future growth

Unlock your growth potential

Don’t let legacy technology hold your business back. At The IT Source, we don’t just build software; we architect resilient platforms for the future.

Contact The IT Source’s experts today for an assessment of your current system, and let’s build a strategic transformation roadmap to accelerate your business growth.