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Client
Our client is a financial company that grew from a money transfer service to a powerful banking ecosystem that specializes in crediting, currency converting, and accumulation of savings with escrow accounts. Besides, the company’s offerings range has developed in a B2B direction, so there are two types of key users of the platform - international business accounts and personal accounts. Both are associated with specific operations.
By the time the client reached out to Jelvix, its customer base had grown to 2 million accounts worldwide, both corporate and individual, and various branches of services.
Having been founded in 2011, the business faced a lack of efficiency and problematic infrastructure maintenance due to its monolithic architecture. The client decided to refactor a legacy monolithic app into microservices to fit evolving technology trends and optimize the processes.
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Business Challenge
It is crucial for enterprises like the client's to scale and develop at the market’s pace to satisfy evolving customer needs. With a monolithic structure, it is challenging to reach operational agility. Supporting an extensive monolithic application required the staff to invest lots of effort and resources, so the client needed to optimize the processes to have some space for business growth and development.
The client also faced technology barriers since the new technology adoption and features development are time-consuming and challenging to implement due to legacy code. The client rented the server in the data center and lost profits because the monolithic architecture was not flexible enough to switch to the cloud.
Some crucial accounting and billing processes like invoicing, verifying users, or loan approvals required automation to lower the staff workload and speed up the interaction between the customer and the vendor.
The main challenge was to process the transition to microservices without interrupting the routine financial operations.
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Solution
The client contacted Jelvix with a request to optimize the legacy architecture and streamline the business processes. As a proficient vendor of software development transformation in fintech, we accepted the challenge instantly.
The Jelvix team developed the new product architecture and processed a smooth transition from monolith to microservices. Besides, we also set up secure cloud storage for cost-efficient functioning.
Along with refactoring the code and decoupling the business logic in different services, we introduced additional features - user verification and crediting with ML.
The banking software is now flexible and optimized for functioning at high incoming data capacity and is easy in adopting new technologies and features, should this necessity arise in the future.
- Location
- USA
- INDUSTRY
- FinTech
- SERVICES
- Monolith to microservices transition, Front-End Development, Back-End development, Quality Assurance, Project Management, Business Analysis, UI/UX Design, Migration from on-premises to the Cloud infrastructure
- TECHNOLOGIES
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HTML 5, CSS 3, TypeScript, Angular, PrimeNG
Java, Spring Boot, Python, AWS EC2, AWS S3, AWS Lambda, AWS ELB, AWS SQS, AWS DocumentDB, AWS SageMaker
AWS Migration Hub, AWS DMS, AWS Storage Gateway
Product Overview
Client’s goals
The client has a strategic vision for the development of his enterprise. The main goal was to develop a new cost-effective architecture that included moving from server rentals to the cloud and reducing operational costs.
To maintain its reputation as an innovative business, the client's company had to improve its operations and deliver different automated user scenarios for individual and corporate clients. This ambition was achieved after the automation of system workflows.
Also, the client's web application was full of legacy code, so another goal was to refactor it and break up the monolithic architecture into microservices.
Implementation
After thoroughly analyzing the customer’s requirements and goals, we divided the process into sprints and presented the new architecture to the client.
To fulfill the client's objectives, we created a team of a Project Manager, a Business Analyst, a UI/UX Designer, 2 Front-End developers, 2 Back-End Java developers, a Back-End Python developer, and 2 Quality Assurance engineers. We also cooperated with part-time DevOps to set up cloud infrastructure.
Since transitioning to microservices is a sophisticated and long-term process, we needed to define the most suitable strategy to match the application's functionality and services.
Standard financial operations, like user verification, account management, and crediting are time-consuming and involve the interaction of multiple services. For this reason, we used asynchronous services communication methodology to ensure system reliability under stress conditions like failures, invoicing, and multiple retries. This methodology choice prevents risks related to the system's high load. Jelvix specialists identified critical boundaries that required the most capacity and effort and were prioritized for extraction.
Since the backlog included tasks for implementing Machine Learning for verification and crediting processes, we conducted an additional investigation to test potential use cases and hypotheses. After reaching successful concept testing results, the feature development started.
With Jelvix DevOps, we built the new infrastructure for cloud storage and processed system migration from a rented server.
Value Delivered
The transition to microservices solved legacy code issues and changed the way the system fundamentally works. The new microservice-oriented architecture makes the system flexible and ready to adopt changes without redeploying the entire system. This approach allows the prevention of risks related to releasing new features.
New user verification and crediting features delivered with ML have reduced staff workload by 70% and made the bank more appealing to clients and businesses through smooth and fast account and loan approvals.
The operational and maintenance costs have also been reduced efficiently with the transition to a cloud storage solution.
Project Results
The monolithic-to-microservices transition is a complex process, but the Jelvix team delivered and implemented the new architecture in only 18 months. Apart from scooping out monolith components and creating microservices, we created cloud architecture and reduced data storage maintenance costs.
We processed the transition gradually without breaking the existing processes in the old system. The new software solution is ready to adopt innovation, easy to update and manage, and appreciated by customers and enterprise stakeholders.