Microservice architecture enables every feature to function as an independent block communicating via language independent APIs. This allows banks to update a particular part of the application without worrying about the dependencies on other features and facilitates building and sustaining an external ecosystem.
It is easier to update and map out applications because distinct independent modules can be altered instead of an entire application.
Microservices can scale individually on the cloud, it can expand, and contract independent of other services
Appzillon’s modular architecture enables every banking service to be updated and managed independently, making banking easy, reliable and fun allowing rapid adjustments to the app and facilitating multiple controlled experiments.
Microservices enable independent deployment of every service without affecting other services. This allows faster deployment and easy management. For example, if you want to update only the KYC microservices you do not have to worry about the dependencies on other services like – core banking services, customer management services, payment services etc
Microservice architecture enables banks to adapt to evolving customer expectations by making applications easy to maintain, quick to deploy and reliable. It builds applications as a set of diverse independent services, each one performing a specific task such as email management, data analytics and so on. These services communicate with each other via language independent APIs.
Each microservice has its own data model and manages its own data
Data moves between microservices using lightweight synchronous protocols like REST
Each microservice should contain a piece of business functionality
Internal operations are only accessible to external programs via API
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Why should banks or financial institutions focus on digital lending? Today, consumers have become more demanding of digital experiences. The
