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Enterprise Cloud Migration and Microservices Refactoring for Financial Platform
  1. case
  2. Enterprise Cloud Migration and Microservices Refactoring for Financial Platform

Enterprise Cloud Migration and Microservices Refactoring for Financial Platform

jelvix.com
Financial services
Information technology

Current Challenges in Legacy Financial System Operations

The client’s existing monolithic architecture hampers operational agility, incurs high maintenance costs, and limits integration of new features. The on-premises server infrastructure reduces flexibility, delays technology adoption, and affects cost efficiency. Additionally, automated processes such as user verification, invoicing, and credit approvals are slow and resource-intensive, restricting growth and responsiveness to market changes.

About the Client

A large-scale financial enterprise transitioning from legacy monolithic systems to a flexible, cloud-based microservices architecture to enhance operational efficiency, scalability, and innovation.

Core Goals for Modernizing the Financial Platform

  • Refactor and decompose the existing monolithic application into a scalable microservices architecture.
  • Migrate infrastructure from on-premises servers to a secure, cost-efficient cloud environment.
  • Implement automated user verification and crediting processes leveraging machine learning to reduce staff workload by approximately 70%.
  • Enhance operational flexibility and system maintainability for easier future updates and feature integrations.
  • Reduce operational and maintenance costs through optimized cloud storage and infrastructure management.
  • Ensure minimal disruption to ongoing financial operations during the transition process.
  • Construct a system capable of high data throughput and resilience under peak load conditions.

Essential System Functionalities for a Modular Financial Platform

  • Decoupled microservices architecture enabling independent deployment and scaling of modules.
  • Asynchronous communication mechanisms between services to ensure reliability under stress and failures.
  • Integration of machine learning modules for user verification and credit approval processes.
  • Secure cloud storage setup with automated data backup and recovery.
  • Real-time transaction processing and data synchronization across services.
  • Administrative dashboards and interfaces for monitoring, management, and reporting.

Preferred Technologies and Architectural Approaches

Microservices architecture patterns
Cloud platforms such as AWS (including EC2, S3, Lambda, SQS, DocumentDB, SageMaker)
Containerization and orchestration tools like Docker and Kubernetes
RESTful APIs and asynchronous messaging protocols

External System and Data Integrations

  • Cloud storage solutions for scalable data management
  • Machine learning services for AI-based verification and credit scoring
  • Legacy data systems or external financial data sources for migration and synchronization

Key Non-Functional System Requirements

  • System availability of 99.9% uptime
  • Ability to handle high transaction volumes and data throughput
  • Response time under load less than 2 seconds
  • Strong security protocols for sensitive financial data and user privacy
  • Scalability to accommodate future growth and feature expansion

Projected Business Benefits of System Modernization

The updated microservices and cloud infrastructure will significantly enhance operational efficiency, reduce maintenance costs, and enable rapid deployment of new features. Automated processes are expected to lower staff workload by approximately 70%, improve customer satisfaction through faster service delivery, and establish a robust, scalable foundation for future market expansion.

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