![]() ![]() Introduction to the Actor Model and What All the Fuss Is Aboutįirst, let’s start with a very brief overview of the concept and avoid digging deeper into technical nuances. Aside from other significant Microsoft software solutions, the Microsoft Orleans framework with its virtual actors may come in handy. In this article, we’d like to share our experience and opinion about one of such novelties in the tech world. However, what if there is an easier way to address all the bottlenecks mentioned above? - Working closely with both fintech startups and reputed banks and building custom solutions of diverse complexity, we’ve tried and tested a myriad of technologies, tools, and approaches. In a bid to keep trade-offs acceptable for business, developers combine technologies and concepts all the way: dividing large solutions into smaller ones, using message buses, gRPC, actor model, event sourcing, dedicated (often NoSQL) storages with data projections, and more. Moreover, app performance should be held at a decent level (yeah, the CAP theorem again), and the solution itself should be reliable for both business-to-consumer (B2C) and business-to-business (B2B) clients and partners. One hardly wants his money to be hidden in the mists of transaction processing, right?Ĭonsequently, one of the main problems in core fintech software development is to keep data consistent even in the face of distributed transactions and seamless scaling. It’s crucial to keep them consistent not only because of strict regulations but also due to the risk of license revocation for the banking solution itself since it potentially leads to money loss and data corruption in the linked solutions as well, all while ruining your reputation. Today we want to talk with you about the most complex platforms that underlie the processing, keeping the info about accounts, balances, transactions, and so on - in other words, being the core financial processor. ![]() Nuances and Common Problems Within the Typical Banking Software Development Process Open API initiatives like Open Banking push this process forward, forcing financial solutions to give access to the most commonly used features for everyone, using the third-party authentication providers. Card processing, account management, online investment platforms, budgeting apps, “traditional” and challenger banks - all these solutions are often closely tied. Nowadays, market players within even the most regulated industries like banking are becoming more and more interconnected with each other.
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