Financial institutions face many unique challenges, and our engineers know how to meet the specialized needs required in this ever-evolving industry. Our experts draw from their extensive experience, confidently guiding clients through the obstacles they face, and provide innovative solutions to modern problems.
Industry Challenges
Although the financial services industry landscape is incredibly diverse, the businesses within this sector share many of the same challenges:
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Maintaining, upgrading, and dealing with antiquated infrastructure/technology that can’t deal with real-time needs is hard to do when you’re also trying to deliver new features. -
The explosion in data requires novel approaches to deliver the hyper-personalization and automated decision-making at scale. -
Data-driven solutions can be hard to scale from the data science workbench. New software patterns and approaches are required to support big data solutions as well as machine learning and artificial intelligence in production.
47 Degrees Solutions
Rather than masking problems or applying some quick fix bandage, 47 Degrees provides clients with battle-tested software solutions to meet the unique needs of the financial services industry.
Big Data Solutions
- Standardizing data ingest, egress, and processing
- Performance tuning for better application responsiveness
Cloud Migration
- Application modernization for hybrid and cloud-native solutions
- Designing and architecting applications that get the most out of elastic cloud resources
Risk reduction
- Smart software development patterns and approaches that drastically reduce the number of fatal failures in production
- Increased monitoring, telemetry, and transparency of application performance
Streaming solutions for real-time risk assessment processes and monitoring
- Migrating batch-based processing to stream-based processing, for shorter time to insight
- Rightsizing “legacy” architectures for better performance and resilience
Training and mentoring
- Modern virtual training and mentoring to level-up teams with the latest paradigms in Reactive software engineering
Key Results
A major provider of digital banking tools and apps partnered with 47 Degrees for assistance building out and improving their backend services using Scala, and to work on their Android/Kotlin, iOS, and frontend web platforms. Over the past 3 years that this project has continued, the team has taken on challenges such as moving from a fast Akka platform to a Functional Programming based model.
