With the rapid development of FinTech and WealthTech, the investment management industry has seen an increasing need for real-time data.
Technologies such as ML, AI, and Big Data are now playing a pivotal role when keeping companies, partners, and clients competitive while at the same time evolving the evaluation of investment opportunities, portfolio optimization, and risk mitigation.
It is imperative for organizations that provide risk assessment platforms and tools to streamline their data pipelines, optimize their digital products, and offer exceptional user experience to retain a competitive edge in such a fast-paced market.
RiskPro is a FinTech platform geared towards risk assessment, proposal generation, model trading, and portfolio monitoring for investment advisors at wealth management institutions, who create and manage financial investment portfolios for their end-clients. The company’s primary focus is on providing investment advisors and their supervisory firms with modern tools, built on leading-edge technology, to manage risk effectively.
The organization’s prototype platform had limited scalability, and it was crucial to refactor its legacy code. At the same time, RiskPro would be significantly enhanced by a product revamp. In addition, it was necessary to correct platform reliability issues, as well as eliminate product development constraints and ecosystem integration hurdles. It was also vital to improve RiskPro’s product development release cadence.
Using AWS, Encora’s engineers rebuilt RiskPro’s platforms with new-age technology from the ground up. This included the primary RiskPro Advisor risk assessment, proposal generation portal, and portfolio monitoring, along with its data aggregation pipeline framework.
The team adopted a microservice-oriented architecture to rebuild RiskPro’s platform to meet the following objectives:
Primary AWS Services: Amazon EC2, AWS Lambda, Amazon VPC, Amazon ECS, Amazon RDS, Amazon CloudWatch, Amazon SNS, Amazon SES, Amazon SQS, Amazon API Gateway, and AWS Fargate
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