Digital transformation and open banking have led financial institutions scrambling to own the customer relationship through innovative financial products and exceptional user experience. Banks increasingly have to compete not only against fellow banking organizations who have cut a path for themselves through first mover digital advantage, but also technology firms with the ability to innovate and bring newer financial products to customers. Managing quality, velocity and experience for banking applications can no longer be achieved through upgrades to large monolithic platforms.
The need of the hour is an architecture based on micro services – autonomous services that perform a single functionality and combine together to achieve a business objective.
Understanding your need for the time tested core banking architecture at the back end, our micro services approach helps you drive a bi modal approach through the following
- Developing and enabling you address your customer facing digital applications through a micro services approach that enables you reach your customer faster with banking applications at the same time guaranteeing the scalability and flexibility that comes with a micro services architecture
- Decoupling the back end legacy layer through a micro services based middle layer that enables you to commit the changes made by your customer facing digital applications at the back end. Over a period of time your core application can be stripped off multiple functionalities that can be transitioned to a micro services architecture, with the core application performing what it does best.
Our micro services approach will help you achieve benefits such as
Flexibility: With the ability to make changes to the application by merely modifying a service/set of services addressing a particular functionality, you can have enough flexibility in taking only relevant financial applications to the customer
Scalability: faster ability to scale an application by making changes to key services rather than making changes to an entire monolithic application
Speed: Upgrades and new applications can be launched quickly by developing the essential services and making them available to the customer, unlike a monolithic application where the speed to market is determined by the development speed of the slowest module.