A next-Gen approach on intelligent lending platform

by Chris R. Tech Support Engineer

The banking industry is undergoing a radical shift, driven by new competition from FinTechs, changing business models, mounting regulation and compliance pressures, and disruptive technologies. Here, digitization has created a new scenario full of opportunities for all industries, generating a radical impact in many sectors, as in the case of BFSI, which has been one of the first to initiate a profound process of digital transformation.

The emergence of FinTech or non-bank start-ups is changing the competitive landscape in financial services, forcing traditional institutions to rethink the way they do business. And we are just here to help them with the right tech solutions.

With a series of high-profile breaches over the past few years, security is one of the leading banking industry challenges, as well as a vital concern for bank and credit union customers. When we coordinate with few banking and money lending clients to know about their pain points, most of them mention security issues, data breaches, or hacking as their nightmare. The reason- most of the banking and non-banking transactions are now online based that increases the chances of hacking and data breach. Hence, they all are intended to invest in the latest technology-driven security measures to keep sensitive customers safe.

Understanding their pain points, we suggest automating their entire infrastructure with a Fintech application system that stands for the test of the dynamic market environment and latest technology updates. Our vision was to help them create a patent platform to enable Peer-to-Peer lending and suggest the best software solution considering the latest technical diversity that will maintain business continuity with better ROI.

To ideate an all-out strategy, we bought a robust Disaster Recovery and Failover system that could serve customers 24*7. proposed a top-of-the-line ‘OAuth’ and ‘OpenID’ platform with multiple levels of security along with military-grade encryption backed by Industry standard network defense mechanism.

We also applied Microservices architecture to poses complete agility, scalability, and availability. The entire opensource stack works as the blend of cutting-edge technology like Kubernetes, Secure API management, messaging queues, managed databases, integrations handled by serverless architecture. The best part is- finally, we have successfully created an automated workflow for them with optimum co-operation.

The DevOps infrastructure makes their entire workflow management 60% smoother than before and resolves human error a lot. The react-based responsive system with analytics and power BI helps to manage their enormous data and upgrade procedures. Integrated a Dynamic CRM also streamline the customer and ticketing management system.

About InovarTech

Inovar is a digital transformation corporate consultancy headquartered in Hyderabad, India. We help organizations reimagine their business by building impactful Digital Transformation solutions powered by the latest technologies. Our highly experienced team members understand the need-of-the-hour better with the help of Digital Transformation, provide state-of-the-art solutions to build trustworthy customer relationships.