Riskpro:
Riskpro:
Modernizing the Fintech Platform by Implementing a Scalable Microservices Architecture
Industry: Banking, Financial Services & Insurance
Delivery Center: India
success/riskpro-modernizing-the-fintech-platform-by-implementing-a-scalable-microservices-architecture
Riskpro:
Riskpro:
Industry: Banking, Financial Services & Insurance
Delivery Center: India
Industry Context
The investment management industry is a rapidly evolving one. FinTech and WealthTech players increasingly need access to real-time data to stay competitive amidst ongoing regulatory changes and innovative technologies. Players who -can leverage modern platforms and harness data intelligently are best suited to capitalize on this era of rapid change.
Client Challenge
Riskpro is a FinTech platform offering risk assessment, proposal generation, model trading, and portfolio monitoring tools for investment advisors at wealth management institutions, emphasizing effective risk management with leading-edge technology. The client relied on rigid legacy systems, constraining its innovation ability. The prototype lacked scalability, impacting its ability to keep pace with growing demands and data. Further, the company needed help with frequent outages, technical debt, and manual processes that affected its reliability. The legacy monolithic architecture led to lengthy release cycles. Outdated interfaces made it difficult for the company to integrate with external systems and leverage AI/ML for real-time insights. This led to limiting the client’s ability to deliver optimized experiences to the investment advisors. To empower its customers with cutting-edge capabilities to make informed decisions and mitigate risks, the client needed to modernize its platform. This required transitioning to a scalable, resilient architecture that could ingest real-time data. Refactoring its code base and revamping the product was also necessary for continuous refinement.
Approach
Recognizing the need for a scalable and resilient solution to modernize the 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. AWS also provided robust security capabilities and compliance certifications crucial for sensitive financial data. AWS facilitated the delivery of a highly reliable and fault-tolerant infrastructure, essential for critical risk assessment, proposal generation, and portfolio monitoring functions.
Our delivery of a modernized and optimized platform was made possible through:
AWS Services
Amazon EC2
Amazon Lambda
Amazon VPC
Amazon ECS
Amazon Relational
Database Service (RDS)
Amazon SES
Amazon CloudWatch
Amazon SNS
Amazon SQS
AWS Fargate
Amazon API Gateway
Results
Utilizing AWS, Encora’s engineers renovated the client’s platforms, leveraging cutting-edge technology to meet the evolving customer needs. As a result, the company can focus on rapidly improving its risk management solutions rather than managing technical debt. With serverless computing, API, and auto-scaling, RiskPro:
Santa Clara, CA
+1 (480) 991 3635
letstalk@encora.com
Innovation Acceleration
Strategic Services
Strategy Consulting & Design Services Technology Consulting Services Product ManagementDigital Engineering Services
Product Engineering & Application Modernization Cloud Services Data & Analytics AI & LLM Engineering Digital Experience & Design Services DevSecOps Quality Engineering CybersecurityManaged Services
Application & Product Maintenance AI-enabled Quality Assurance as a ServiceIndustries
HiTech Healthcare & Life Sciences Retail & CPG Energy & Utilities Banking, Financial Services & Insurance Travel, Hospitality & Logistics Telecom & Media AutomotiveGlobal Delivery
Nearshore in the Americas Nearshore in Europe Nearshore in Asia & Oceania Expertise at Scale from India Hybrid Global TeamsAll Insights
Blogs Webinars eGuides & WhitepapersPartnerships
AWS Microsoft Azure Snowflake Appian Google Cloud +10 other partnersCareers
North America Latin America Europe India Asia PacificAbout Us
Leadership Awards & Recognitions NewsStrategic Services
Digital Engineering Services
Industries
Global Delivery
Partnerships
Insights
About Us