A leading entity in the credit card industry required a robust solution to manage the settlement of vast numbers of financial transactions processed daily. The company's existing system was not equipped to handle the increasing volume and complexity of transaction batches efficiently, necessitating an advanced technological solution to maintain their market-leading position.
The customer faced several significant challenges with their legacy system:
Scalability Issues: The existing system struggled to efficiently process the growing volume of transaction batches, leading to delays and increased error rates.
Inadequate Validation Processes: Previous methods for mapping and validating transactions did not meet the rigorous standards required for financial accuracy and compliance, posing risks of financial discrepancies.
Integration Complexity: The need for a seamless flow of transactions through various validation and persistence stages required a highly integrated solution that their current system could not provide.
Our team was tasked with developing a high-performance transaction management application using a microservices architecture. Here’s how we implemented the solution:
Phase 1
We utilized Java and Spring Boot to build several microservices, each responsible for different aspects of the transaction processing pipeline. Angular was used to create administrative dashboards for real-time monitoring of transaction flows. Kafka facilitated the robust and scalable dissemination of transaction data between services.
Phase 2
We developed microservices specifically designed to:
Parse Transaction Files: Automatically parsing files containing transaction batches to extract transaction data efficiently.
Map and Validate Transactions: Implementing detailed mapping and validation rules in accordance with established financial standards to ensure accuracy and compliance.
Kafka Integration: After initial validations, transactions were sent to Kafka queues, from which they were picked up by another set of microservices responsible for further validations and then persisted into the database.
Phase 3
By breaking down the transaction processing into distinct microservices, we achieved a more manageable, scalable, and reliable system. This approach not only enhanced processing speeds but also improved system resilience and fault tolerance.
The newly developed transaction management system ensured faster processing times, reduced errors through stringent validations, and provided scalable infrastructure to handle future transaction volumes.
This project exemplifies our expertise in delivering complex, microservices-based solutions in the finance and payments industry, significantly boosting client operational efficiencies and compliance.
