Building Fintech on AWS- AWS Centric Solution Architecture for fintech

This is the 4th post on how we built the Securities Trading App on AWS Cloud.

We choose to start with cloud because of known inherent benefits; elasticity, auto-scaling, auto-healing virtual infrastructure available immediately at the click of a button under a pay-as-you-go model. The business case and time to market benefits of this are clear, with large enterprises and financial services brands aggressively adopting the cloud.

Our simplified application architecture diagram.

Building Fintech on AWS

We started with serverless (AWS Lambda).

Using serverless technologies is a highly efficient and cost-effective model for writing business logic behind APIs, and brings with it the gains of no longer needing to manage underlying infrastructure or host operating systems.

Lambda also provided us the freedom to bring in experts on different technology to work together. We are using python, nodejs, and java for backend lambda functions.

API First Design: The entry point to our fintech platform is built around AWS API Gateway. API Gateway is a scalable and programmatically configurable API Management service offered by AWS. We build multiple API for each module, this help us to build specific validation for our APIs. Defining APIs structure was tough and we corrected ourselves multiple times, before agreeing to a common standard.

Read: https://medium.com/@anujagarwal_CTO/api-strategy-principles-guide-to-api-economy-b437f37b1b8a

API Gatway’s stage functionality, combined with Lambda versioning helped us to build dev and product environments automatically.

Read: https://medium.com/@anujagarwal_CTO/challanges-of-creating-production-grade-serverless-product-lambda-versioning-and-api-gatway-fdaf03d2589a

Auto Code builds and Release via AWS Codepipline. Time-to-market is the key item for organizations to be able to compete in the market. Companies need to launch features and services faster than other companies to survive and thrive. Software features need to be released in the shortest possible delivery time.

Challenges of release and Build: https://medium.com/@anujagarwal_CTO/continuous-frustration-or-continous-delivery-ci-cd-and-agile-development-aws-codepipline-8c62c2306a14

We used AWS Codepipline hooked to Github repos via webhooks. Our build kick starts the minute we check-in the code at our master branch.

We used SAM templates to deploy the lambda functions via github.

Features(Modules of our fintech application)

Digital Onboarding.
Digital Onboarding.

We simplified the onboarding process. Building 100% digital onboarding reduces friction for the customer.

Online Trading Module.

Our online trading modules use AWS sagemaker to recommend trades to the user based on market information and user past actions, actions we consider are securities he views, his watchlist, purchase history, sell history, news he reads, and risk rating.

Settlement and Reconciliation Modules.

Apart from the back-office module, we build an automatic reconciliation module. Our dashboard helps the operations team to get detailed insight into the system.

We also working on a technical log to the human meaning conversion system, this will help non-tech support staff understand the issues with the system. The system will work as an early warning system so the technical team can start solutions to the problem before it occurs.

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A Product Manager and technologist who loves to solve problems with innovative technological solutions.