Portfolio Architectures: Finance Collection - DZone Integration

This article is a continuation of a series of posts about our project named Portfolio Architectures. A previous post, Portfolio Architecture Examples: Healthcare Collection, begins with a project overview, introduction, and examples of tooling and workshops available for the project.  You may want to refer back to that post to gain insight into the background of Portfolio Architectures before reading further.

Finance Collection

The collection featured today is centered around architectures in the financial services industry. There are currently two architectures in this collection. We'll provide a short overview of each, leaving the in-depth exploration as an exercise for the reader.

In each of these architecture overviews, you'll find a table of contents outlining the technologies used, several example schematic diagrams with descriptions, and a link in the last section to open the diagrams directly into the online tooling in your browser.

Open Banking

Financial services institutions understand that today's banking customers expect fast, easy-to-use services they can tap into anytime, anywhere, and are therefore accelerating the adoption of digital technologies to enable a variety of new offerings.

Organizations everywhere are trying to find the architecture that can support their needs for unpredictable volumes of transactions requiring both a need to protect systems of record and to flexibly scale infrastructure.  They are looking for ways to scale both flexibly and cost-effectively. 

These flexible architectures need not only to scale without friction, but they need high availability for application programming interfaces (APIs) enterprise-wide. Security must be maintained often at very specific levels such as outlined in the open banking Regulatory Technical Standards.

(Note: This project is a new architecture and is currently in progress. We are sharing one of the schematic architecture diagrams and you can monitor this project for updates as it progresses to completion.)

The use case is a cloud-ready, modular open-source approach offering a wide range of technology options and allows low-effort integration covering all aspects of an Open Banking implementation.

Payments

An offering of (near) real-time payments lets businesses, consumers, and even governments send and accept funds that provide both availability to the recipient and instant confirmation to the sender. Enabling real-time (or at least faster) payments that improve the speed of online payment experiences to customers has the potential to give banks a greater opportunity to win, serve, and retain their customers. By building solutions that capture real-time payment business, banks also can drive higher payment volumes, ideally at lower costs as well as engage new customer segments.

The use case examines financial institutions enabling customers with fast, easy to use, and safe payment services available anytime, anywhere.

If you are interested in more architecture solutions like these, feel free to export the Portfolio Architecture Examples repository. More architecture collections include:

• Application development
• Automation
• Data engineering
• Edge
• Healthcare
• Infrastructure
• Retail
• Telco