Fault Tolerant Architecture
If a single microservice malfunctions, the other services remain largely unaffected.
If a single microservice malfunctions, the other services remain largely unaffected.
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.
Each microservice has its own data model and manages its own data
Data moves between micro services 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
Each microservice has its own data model and manages its own data
Data moves between micro services 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
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
Banks around the world are transforming their services to cater to the increasing customer demand. Additionally, Banks must respond to the demand generating from various financial institutions for integrated solutions. Open banking is a process of making banking data accessible to external players through a secure channel. Microservices make it possible with APIs for every individual service.
Microservices make it easy to scale an app as demand grows. Instead of scaling an entire app, you can direct more resources to the most critical microservices. Scaling is also faster and often more cost-effective because of microservices. Microservices often have minimal codebases, making it easier to manage and deploy. It is also much easier to keep the code clean and assign teams to certain services.
