Overview
Blend partnered with AWS to help Witty, a digital wallet platform, accelerate financial inclusion by enabling unbanked populations to access deposits, transfers, withdrawals, bill payments, and investment opportunities. With a mobile-first design built on AWS, Witty delivers fast, secure, and accessible financial services through encrypted transactions and real-time protection. The solution was designed not only to expand access but also to reduce costs and complexity compared to traditional banking, providing a sustainable path to scale financial inclusion.
Challenge
- Financial Exclusion: Millions remain unbanked, lacking access to traditional financial services.
- High Barriers to Entry: Legacy banking systems impose costly processes and complex requirements that discourage participation.
- Inefficient Transactions: Heavy reliance on ACH results in slow payment processing and delayed cash flows.
- Trust & Security Concerns: Scaling inclusion requires strong identity verification, encryption, API protection, and fraud monitoring to build user confidence.
Solution
Witty built a secure, cloud-native digital wallet on AWS that reduces the cost and complexity of traditional banking while expanding access to financial services. By combining advanced identity management, encrypted transaction processing, and continuous compliance monitoring, the platform empowers unbanked populations with faster, safer, and more affordable financial operations — all supported by a scalable, automated infrastructure.
- Secure Web Access (Public Subnet): https://app.witty.com.co is accelerated through Amazon CloudFront with TLS encryption, while AWS WAF and Application Load Balancer (ALB) provide protection and high availability. Endpoints are secured via AWS Certificate Manager (ACM).
- Transaction Processing & Operations (Private Subnet): Amazon ECS on Fargate powers backend services in Amazon VPC, AWS Lambda handles real-time validation, and Amazon RDS securely stores financial records with full encryption.
- Identity & Authentication: AWS Cognito enables secure user access and authentication, supported by AWS IAM with least-privilege policies, MFA for operators, and AWS Secrets Manager for API keys and credentials.
- Data Protection & Storage: Amazon S3 stores logs and compliance records with encryption and lifecycle management, while AWS KMS secures keys for sensitive financial data.
- Threat Detection & Compliance: Amazon GuardDuty, AWS Security Hub, and AWS Config deliver continuous monitoring and compliance validation, while Amazon CloudTrail ensures full auditability with immutable logs.
Impact
The platform transformed Witty’s ability to deliver secure, scalable, and affordable financial services:
- Greater accuracy in reconciliation through automated payment tracking.
- Significant reduction in manual transaction validation.
- Improved precision in payment-to-payer matching.
- Faster revenue recognition and collection cycles.
- Infrastructure that scales seamlessly with transaction growth.
- Stronger security posture with identity controls, encryption, and API protection.
- Continuous fraud detection and monitoring safeguarding financial operations.
Key Data Points
60%+
cost reduction in banking infrastructure by eliminating physical branches.
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40%
lower transaction fees for users compared to traditional transfers.
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50%
decrease in long-term operational expenses versus legacy banking models.
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