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Development of Scalable Business Banking Platform with Integrated Financial Management Tools

brights.io

Financial services

Challenges in Building a Scalable and Secure Financial Management Platform

The client required a robust banking and payment platform capable of handling tens of thousands of monthly transactions while maintaining security, scalability, and seamless third-party integrations. Key challenges included managing complex AWS architecture configurations, ensuring secure inter-service communication, optimizing auto-scaling for cost efficiency, and mitigating risks of data leaks and system failures.

About the Client

A financial technology company providing innovative banking solutions for small and medium-sized businesses.

Goals for the New Development Project

Create an intuitive, transparent banking platform for streamlined financial management
Integrate third-party services for payment processing, invoice recognition, and automated accounting
Build a scalable AWS-based architecture to handle high transaction volumes
Ensure enterprise-grade security through IAM policies, encryption, and secret management
Automate accounting processes and enable virtual debit card issuance with budget controls

Core Functionalities and Key Features

Secure payment and transfer processing with automated reconciliation
Cloud-based accounting automation with third-party software integration
Virtual debit card issuance with customizable spending limits
Invoice and bill management with AI-driven recognition
Real-time transaction monitoring and reporting dashboard

Target Technology Stack

AWS ECS, S3, RDS, ElastiCache, API Gateway, Lambda

VPC Endpoints and NAT gateways for secure networking

CloudWatch and EventBridge for monitoring

AWS Secret Manager for credential security

Critical Third-Party Integrations

Payment gateways (e.g., Stripe, PayPal)
Accounting software (e.g., QuickBooks, Xero)
Identity verification services (e.g., Onfido)
Invoice recognition APIs (e.g., Google Document AI)

Non-Functional Requirements

Horizontal scalability to handle 50,000+ daily transactions
99.99% system availability with fault-tolerant architecture
Sub-200ms response time for core payment operations
PCI-DSS compliance for payment security
Automated disaster recovery with <15-minute RTO

Expected Business Outcomes

The platform will reduce business financial management overhead by 60%, enable real-time budget control through virtual cards, and decrease invoice processing time by 75% via automation. The scalable architecture will support 20% monthly transaction growth while maintaining performance, with integrated analytics driving 30% faster financial decision-making.