API portal optimizes banking as a service technology
Platform developed by act digital accelerates the internal development process and the connection with partner developers
The development of software, applications, and platforms is continuous in the financial sector and often involves the process of integrating programs through APIs, which enable access to banking services in the Banking as a Service (BaaS). In this context, the APIs portal is an efficient solution to standardize, automate, and guarantee secure access to a series of banking operations.
With the accelerated digitalization process of the economy, the performance of financial transactions has evolved. Today, banking services — such as granting credit, issuing bank slips, processing payments, among others — are provided by companies from the most varied segments. This reality is present in e-commerce, retail, and fintechs, to name just a few examples.
In Brazil, this journey was incremented with the implementation of Open Banking, Open Finance, and Pix. These solutions, which facilitate data sharing, bank transfers, and payments, require banking institutions to promote access to their services in a complete and secure manner.
Transmitting information and resources related to APIs to the developer community is one of the challenges currently faced by the financial sector. In this case, it is necessary to facilitate access to protocols and guidelines through a secure virtual environment, as is the case with the API portal that act digital created for an investment bank with global operations.
Client: reference bank in investments
The financial institution that hired act digital to develop the APIs portal is a global investment bank, which is the market leader in Latin America. With almost 40 years of experience, the company is focused on providing investment and wealth management solutions for individual clients and companies, offering a series of services and products.
The program integration process is fundamental both for the company’s internal areas and for business partners, who resort to APIs to make transactions and operations available that the bank offers. But to carry out the integration, it is necessary to consolidate a knowledge base, containing information, protocols, and instructions on all APIs of the institution.
Challenge: standardization, automation, and availability
The main challenge faced by the investment bank at the beginning of the project was: to standardize and automate the availability of accounting, regulatory and management information for internal areas and partners.
Solution: API portal
With the objective of structuring a BaaS platform to make the bank’s interfaces available in a scalable way, act digital worked on the creation of the APIs portal, providing the company with a complete solution.
Methodology
During the execution of this project, the multidisciplinary squad of act digital implemented, through agile methodologies, the entire ecosystem of APIs of the bank based on an architecture of microservices in the cloud in a scalable and high-performance way so that the bank can accelerate the development of internal solutions and connections with market partners.
Technology
In the API portal development process, we use the following technologies:
- .Net Core
- RabbitMQ
- GraphQL
- AWS (Cloud, CloudWatch, Redis, DynamoDB)
- NoSQL
- SQL Server
- Rancher
- Postman (Test Automation) with Azure DevOps, Docker
Results: gain in efficiency and scale
The creation of the APIs portal and the entire structuring of the BaaS microservices architecture benefited the internal activities in the bank’s IT area and facilitated development by the institution’s partners. Check out the results achieved!
- Process automation
- Productivity efficiency for API consuming sectors
- Adoption of on demand microservices (BaaS scale gain)
How we can help your company
act digital solutions are developed in a customized way, addressing the needs and characteristics of each client according to their segment of activity. We employ our own work methodology and apply agile models to deliver the expected results in the shortest possible time, including with regard to ramping up professionals or entire teams.
From end to end, projects are conducted by act digital’s multidisciplinary and specialized squads, which bring together the best professionals in the market. Thus, the planning, execution, and measurement of results occur in a structured way to continuously improve the performance of the solutions.
We create innovative solutions for the financial sector, ensuring an agile, connected, and secure digital experience, guaranteeing any institution the migration of its operations to the virtual environment, without compromising the security and integrity of operations. Data management is another expertise we have developed for this market, with a focus on promoting the organization’s data-driven culture and leveraging analytical intelligence on all fronts of the business.
Our range of services covers platform development, the modernization of legacy systems, the structuring of data and operations security systems, the creation of APIs and applications, among other solutions.
The APIs portal is an example of an efficient solution for automating processes and accelerating the development of new products and services in the financial sector. How can we impact your company? Talk to the act digital team.
