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I'm not quite sure what you are asking? Are you asking if a bank/credit union (e.g. Ally, MITFCU) could go serverless? Assuming that is your question, here is m
by clintonb 8y ago
I'm not quite sure what you are asking? Are you asking if a bank/credit union (e.g. Ally, MITFCU) could go serverless? Assuming that is your question, here is my response:
Maybe. Note that there is more to the bank than the customer site. On the backend you have processing of incoming and outgoing ACH/wire transfers, data storage and retrieval for loan origination and collections, ATM processing, processing of branch transactions, and fielding support calls. That's just what I have come up with in the last 30 seconds. I'm sure larger banks do a lot more (e.g. check processing).
All of these systems could, to some extent, be architected around some form of event system that runs functions. That's how some fintech companies approach these problems. If I were making the decision, I would weigh the costs of deployment/management with the potential savings in compute usage. Deploying a single monolith, or a handful of microservices is much easier (to me) than dealing with a plethora of "nanoservices".
- PaulHoule 8y agoIn AWS you would do it like this: AWS Cloudformation to construct the system from a template so you could build a test system, do an upgrade, build one for another bank. AWS Step Functions to deal with "business rules" situations and long-running workflows that run at human speed. AWS Lambda for what you can easily do procedurally in less than 1s. Time-delayed processing mediated by SNS, SQS, MQ and similar services. You will probably use a few different AWS databases from DynamoDB to Oracle. Amazon has approaches to business facing authorization, audit trails, all sorts of things. The thinking you attribute to fintechs and hedgies has been applied since the 370 in ordinary banks, it's very conventional and very correct.