Microservices Event Driven and Streaming Architectural Approach for Payments and Trade Settlement Services

In BFSI (Banking, Finance, Securities and Insurance) industry core day-to-day operations are payment, clearing and settlement (PCS) services are key functions. Having a good PCS system is a must to have a satisfied customers and achieve accelerated growth in revenues. Implementation of PCS transactions processed through a series of integrated systems and integrations were neither real-time nor near real-time. The evolution of Digital Transformation (DT), microservices, containerization, Cloud-native deployments and peer pressure in the BFSI sector has triggered the architecting and development of real-time or near real-time or asynchronous PCS systems against synchronous ones. In the current work, an effort has been made to architect a layered system with an in-built and Event Driven Architecture (EDA) that can handle asynchronous transactions. The intended system has multiple layers like integration, application, data, security, and infrastructure. The new architecture should address a) business concerns like usability, security management, functional coverage, flexibility, functional integration, automation, and reporting, b) technical concerns like modularity, extensibility, reusability, future-readiness, performance, adaptability and c) operational concerns like managibility, maintainability, scalability, availability, cloud and robust enough to handle the load. The goal of current work is achieve a multi-tier event driven and stream processing architecture that consists of front-end, API gateway, microservices, databases and flexible to deploy on a hybrid cloud environment. The system is capable of interfacing with industry standard third party systems.