FinTech Core Banking Modernization

Modernizing a Core Banking Platform for a Top-Tier FinTech Firm, Reducing Costs by 40%

Industry Financial Technology (FinTech)

  • Client Revenues

    $10B+ Client Revenues

  • Successful Years

    12+ Successful Years

  • IT Ninjas

    1000+ IT Ninjas

  • Successful Projects

    5000+ Projects

Client's Testimonial

The Developers.dev team was exceptional. Their deep knowledge of microservices and their CMMI 5 process gave us the confidence to undertake this mission-critical project. They delivered a secure, scalable platform that has positioned us for the next decade of growth.

VP of Platform Engineering

VP of Platform Engineering

Client Introduction

A global financial services company with over $2B in annual revenue, providing payment processing and core banking solutions. Their flagship platform was built on a monolithic Java architecture, making it slow, expensive to maintain, and difficult to update.

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Problem and challenges in FinTech

Problem

The client's legacy platform was hindering their ability to compete with nimble, cloud-native startups. High infrastructure costs, slow feature deployment cycles (6-9 months), and a growing risk of security vulnerabilities were threatening their market leadership.

Key Challenges

Migrating a massive, complex system with zero downtime

Migrating a massive, complex system with zero downtime.

Ensuring compliance with strict financial regulations

Ensuring compliance with strict financial regulations (PCI-DSS, GDPR).

Integrating with dozens of third-party financial institutions

Integrating with dozens of third-party financial institutions.

Retraining their internal team to manage the new cloud-native environment

Retraining their internal team to manage the new cloud-native environment.

Our Solution for FinTech

Our Solution

We proposed a phased migration strategy using our Java Microservices Pod and DevSecOps Automation Pod. The solution focused on strangling the monolith piece by piece, replacing core functionalities with independent microservices running on AWS.

Discovery & Architecture

We conducted a 6-week deep-dive, mapping every dependency and creating a detailed microservices architecture and migration roadmap.

Security-First Design

Our DevSecOps team embedded security controls into the CI/CD pipeline from day one, using infrastructure-as-code (Terraform) and automated security scanning.

Agile Migration Sprints

We tackled the migration in two-week agile sprints, delivering and deploying new microservices incrementally, allowing for continuous testing and feedback.

Cloud-Native Tooling

We leveraged AWS services like EKS (for Kubernetes), Lambda (for serverless functions), and Aurora (for the database) to build a highly scalable and resilient platform.

Implementation and Execution

Established a secure site-to-site VPN

Secure VPN Establishment

Established a secure site-to-site VPN for seamless collaboration.

Parallel Environments Setup

Parallel Environments Setup

Set up parallel environments for development, staging, and production on AWS.

Kafka for event-driven communication

Event-Driven Communication

Used Kafka for event-driven communication between new microservices and the legacy monolith.

Monitoring and observability stack

Monitoring Stack Build

Built a comprehensive monitoring and observability stack using Prometheus and Grafana.

Automated performance and penetration testing

Rigorous Testing

Conducted rigorous, automated performance and penetration testing before each major release.

Final cut-over during low-traffic windows

Phased Cut-over

Executed the final cut-over for each module during low-traffic weekend windows.

Positive Outcome

40% Reduction in Infrastructure & Maintenance Costs

Achieved by moving from expensive on-premise servers to an optimized AWS environment.

90% Faster Deployment Cycles

Feature release time was reduced from 6 months to under 2 weeks.

Enhanced Security & Compliance

Passed all PCI-DSS and security audits with zero critical findings.

Improved Scalability

The new platform effortlessly handled a 200% spike in transaction volume during peak season without any performance degradation.

Positive Outcome for FinTech

Why Choose Us

CMMI Level 5 & SOC 2 Certification

Provided enterprise-grade assurance.

Proven Experience in FinTech

Proven experience in large-scale FinTech migrations.

Specialized Talent Pool

Access to a large pool of specialized Java and AWS experts.

DevSecOps Integration

Our DevSecOps approach integrated security from the start.

Complete Managed Team

The POD model offered a complete, managed team.

Flexible Engagement Model

Flexible engagement that allowed for phased execution.

Significant Cost Savings

Significant cost savings over onshore alternatives.

Transparent Project Management

Proactive communication and transparent project management.

24/7 Critical Support

24/7 support during critical migration phases.

Conclusion

By partnering with Developers.dev, the client successfully transformed their core technology from a liability into a strategic asset. The project was delivered on time, within budget, and has enabled them to innovate faster, operate more efficiently, and compete more effectively in the modern FinTech landscape.

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