The 12 Software Architectures That Will Matter in Financial Services in 2018 & Beyond…

Over the last three years, we have examined a succession of business issues in the various sectors of financial services on this blog. These have ranged from the mundane (Trading, Risk management, Market Surveillance, Fraud detection, AML et al) to the transformative (Robo advisors, Customer Journeys, Blockchain, Bitcoin etc). We have also examined the changing paradigms in enterprise architecture – moving from siloed monolithic applications to cloud-native software. This blog summarizes the most 12 important technical posts on innovative application architectures.

Introduction…

Having spent the majority of my career working in Banking and Financial Services has made for a fascinating time. It is amazing to witness business transformation begin to occur across the landscape. However, this transformation is occurring on repeatedly discussed themes. A key challenge that CXOs and Enterprise Architecture teams face is how to deploy much-discussed technologies such as Cloud platforms, Big Data, Enterprise Middleware and AI in real-world architectures.  This blog post sums up eleven real-world application architectures that industry leaders can use as a good reference point for their own implementations.

The common theme to all of the below architectures –

  1. A focus on Cloud native concepts including microservices, lightweight backends, containers
  2. Design Patterns that encourage new age Data Management techniques including Hadoop and Spark
  3. Cloud-agnostic – whether that is public cloud or private cloud
  4. Integrating business process management and business rules engines as first-class citizens
  5. 100% Open Source

#1 Design and Architecture of a Real World Trading Platform…

Design and Architecture of a Real World Trading Platform.. (2/3)

#2 Big Data driven Architecture for Credit and Market Risk Management…

How a Pioneering Bank leverages Hadoop for Enterprise Risk Data Aggregation & Reporting..

#3 Reference Architecture for Big Data-enabled CyberSecurity…

Cybersecurity and the Next Generation Datacenter..(2/4)

#4 Reference Architecture for Payment Card Fraud Detection…

Hadoop counters Credit Card Fraud..(2/3)

#5 Design and Architecture of a Robo-Advisor Platform…

Design and Architecture of A Robo-Advisor Platform..(3/3)

#6 Reference Architecture for Customer Journeys and Single View of a Customer…

Demystifying Digital – Reference Architecture for Single View of Customer / Customer 360..(3/3)

#7 A Reference Architecture for the Open Banking Standard…

A Reference Architecture for The Open Banking Standard..

#8 The Architecture of Blockchain…

The Architecture of Blockchain..(4/5)

#9 The Architecture of Bitcoin…

The Architecture of Bitcoin..(2/5)

#10 How to Re-Architect a Wealth Management Office…

Next Gen Wealth Management Architecture..(3/3)

#11 Reference Architecture for Market Surveillance – CAT, MAR, MiFID II et al…

The Definitive Reference Architecture for Market Surveillance (CAT, UMIR and MiFiD II) in Capital Markets..

#12 Logical Architecture for Operational Risk Management…

Infographic: Logical Architecture for Operational Risk Management

 Conclusion…

With each passing quarter, financial services is a business that looks increasingly in danger of disintermediation. CXOs have no alternative but to digitize their businesses. IT will be forced to support cloud-native technologies in both key areas – applications and infrastructure in pursuit of business goals. Developers will also be at the forefront of this change. Eventually, quality of Enterprise Architecture decides business destiny.

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