Modulr is a digital platform that automates payment flows, embeds payments within existing software, and enables new payment products and services to be built. The company has processed payments for over £30bn and handled more than 25 million transactions to date.
In 2018, Modulr was expanding quickly and needed an extra 30 engineers in a short period of time to continue launching new features to the market. Parser provided 10 engineers across London and Barcelona, and Modulr took on the remaining 20. Both teams clicked immediately. ‘We immersed ourselves into Modulr’s structure and engineering teams. We knew straight away that we were a great fit,’ explains Hernán Griboff, COO at Parser. ‘The engineers from Parser are among the best in all of our teams. We measure their output and their performance, and give them equally difficult and sometimes more challenging work than we give our own teams. It’s like you, or your best people, on their best day,’ highlights Angus Clacher, Head of Product at Modulr.
Parser started off with one specific project, but the results were so promising that they ended up providing a fully managed service for Modulr. This consisted of several autonomous multidisciplinary software development teams: project management, business analysis, software development, and quality assurance.
Parser built functional and technical designs to address internal and external user needs, and liaised with payment service providers to offer new products and features to Modulr’s clients. They created representational state transfer (REST) application programming interface (API) payment products to automate business payment flows, enabling domestic and foreign exchange payments in 49 countries. Parser also allowed direct debit payments for 5 million customers in the UK through Direct Access to Bank of England, and single euro payments area (SEPA) through integration with the Bank of Lithuania. ‘They understood how we wanted to approach the development of our platform and were flexible in helping us structure the engagement in a way that we operate,’ summarises Jakub Zmuda, Chief Product Officer at Modulr.