Modernizing the Fintech Platform by Implementing a Scalable Microservices Architecture

Recognizing the need for a scalable and resilient solution to modernize RiskPro's platform, Encora strategically chose AWS for its robust capabilities. AWS’ versatility, security, scalability, and resiliency aligned perfectly with the client’s need for a next-generation platform. Additionally, AWS’ security services provided critical threat detection, compliance support, and identity management—essential for handling sensitive financial data while ensuring adherence to industry regulations.

AWS facilitated the delivery of a highly reliable and fault-tolerant infrastructure, crucial for risk assessment, proposal generation, and portfolio monitoring functions.

Our delivery of a modernized and optimized platform was made possible through:

• Product Management - Adopted a microservice-oriented architecture to rebuild the client’s platform, improving modularity, deployments, security, logging, and fault tolerance.

• Product Development - Acquired an in-depth understanding of the client’s legacy platform to ensure all legacy features were successfully incorporated. 

• Data Pipeline Engineering - Developed and executed a legacy data migration strategy while rebuilding the nightly data ingest pipeline framework to optimize performance and security.

• UX Design - Modernized the platform’s user experience to enhance usability and accessibility.

• Microservices Architecture & Domain-Driven Design (DDD) - Accelerated the client’s release cycle using a new microservices architecture, reducing deployment time by 50%.

• Security Enhancements - Implemented AWS Security Hub, Amazon GuardDuty, AWS IAM, and AWS Config to provide continuous security monitoring, automated threat detection, compliance enforcement, and identity governance. AWS CloudTrail and VPC Flow Logs enhanced auditing and anomaly detection, while AWS Secrets Manager secured sensitive credentials, reducing security risks.

Utilizing AWS, Encora’s engineers renovated the client’s platform, leveraging cutting-edge technology to meet evolving customer needs. As a result, the company can focus on rapidly improving risk management solutions rather than managing technical debt.

With serverless computing, APIs, and auto-scaling, RiskPro:

• Transitioned to a secure, resilient, and scalable cloud-based infrastructure, improving platform performance and availability.

• Delivered an exceptional end-user experience with real-time, customized insights, enabling advisors to make informed decisions swiftly and mitigate risks effectively.

• Improved scalability and fault tolerance with the microservices architecture.

• Reduced operational costs and overheads with AWS Lambda and other computing services.

• Facilitated rapid release and delivery of new features with developer tools and services.

• Achieved high throughput and low latency for real-time data insights and accelerated feature delivery.

• Lowered system integration time, allowing for rapid iterations.

• Reduced daily data ingest processing time by 50%, enabling faster analysis and decision-making.

Security Enhancements:

• Enhanced threat detection and response with AWS Security Hub and Amazon GuardDuty, reducing mean-time-to-detect (MTTD) by an estimated 40%.

• Improved identity governance and compliance with AWS IAM and AWS Config, reducing misconfigurations and unauthorized access risks.

• Strengthened data security and compliance posture with AWS Secrets Manager and AWS CloudTrail, improving audit readiness and regulatory adherence for sensitive financial data.