Innovative Approaches to AWS Serverless and Data-Driven Architecture
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Chapter 1: Introduction to AWS Serverless in Fintech
This article marks the fourth installment discussing our development of a Securities Trading Application on AWS Cloud.
We opted for cloud technology due to its numerous advantages, such as elasticity, automatic scaling, and self-healing virtual infrastructure, all accessible instantly with a pay-as-you-go pricing model. The benefits for business cases and accelerated time-to-market are evident, leading many large corporations and financial services to adopt cloud solutions aggressively.
Chapter 2: Building a Fintech Solution with AWS
Our journey began with a focus on serverless computing, utilizing AWS Lambda. This approach offers a highly efficient and cost-effective method for implementing the business logic behind our APIs, eliminating the need to manage underlying infrastructure or operating systems.
Lambda also allowed us to collaborate with specialists across various technologies. Our backend lambda functions are developed using Python, Node.js, and Java.
Section 2.1: API-First Design
The foundation of our fintech platform is constructed around the AWS API Gateway. This service provides scalable and programmatically configurable API management. We developed multiple APIs for each module, enabling us to implement specific validations. Designing the API structure was challenging, and we had to revise our approach several times before reaching a consensus on a unified standard.
The stage functionality of API Gateway, along with Lambda versioning, facilitated the automatic creation of development and production environments.
Section 2.2: Streamlined Code Deployment
Time-to-market is critical for organizations aiming to remain competitive. Businesses must introduce features and services faster than their competitors to survive and thrive. Consequently, software updates should be delivered in the shortest timeframe possible.
To address the challenges of release and build processes, we utilized AWS CodePipeline linked to GitHub repositories through webhooks. Our build process initiates as soon as we commit code to our master branch.
We employed AWS SAM templates to facilitate the deployment of lambda functions via GitHub.
Chapter 3: Key Features of Our Fintech Application
Section 3.1: Digital Onboarding
We have streamlined the onboarding process, achieving a fully digital experience that minimizes friction for customers.
Section 3.2: Online Trading Module
Our online trading module leverages AWS SageMaker to suggest trades to users based on market trends and their historical actions. We take into account factors such as viewed securities, watchlists, purchase and sale history, news consumption, and risk assessment.
Section 3.3: Settlement and Reconciliation
In addition to the back-office functions, we developed an automatic reconciliation module. Our dashboard provides the operations team with in-depth insights into system performance.
We are also working on a technical log conversion system that translates technical issues into understandable terms for non-technical support staff. This system will act as an early warning mechanism, allowing the technical team to proactively address potential problems.
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Chapter 4: Learning Resources
This video, titled "AWS re:Invent 2023 - Getting started building serverless event-driven applications (SVS205)," provides an introduction to serverless applications and their architecture.
In the second video, "AWS re:Invent 2023 - Navigating the journey to serverless event-driven architecture (API303)," you'll find insights on transitioning to serverless architectures effectively.