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4 minutes read

AWS Elastic Container Service // Lambda // RDS for PostgreSQL // File Transfer Family

The Challenge

Australia’s leading payments & regulated data services provider approached Synechron to assist with their Open Banking implementation on AWS. The project faced strict regulatory deadlines and compliance requirements set by the Consumer Data Right (CDR) for the implementation of an Open Banking platform. Additionally, the cloud infrastructure needed to evolve from EC2 to cloud-native services rapidly, ensuring high availability and security to support multiple banks and fintech partners effectively.

The Solution

Synechron successfully developed a cloud-native Open Banking platform on AWS, leveraging services like ECS for scalability and RDS for PostgreSQL to ensure high availability. A collaborative approach with the payment processor's IT team led to the effective design and implementation of the architecture, meeting compliance mandates while also optimizing for performance and cost. Infrastructure deployments were managed as code using Bamboo CD and CloudFormation. Technologies included AWS Fargate for Elastic Container Service, API Gateway, Lambda, AWS RDS for PostgreSQL & AWS CloudFormation.

The Results

Enhanced scalability and performance, handling increased loads from banks and fintech partners.

High availability and disaster recovery, minimizing downtime and maintaining service continuity.

Observability, including extensive monitoring and alerting, using AWS native components.

Our process

Synechron followed an agile process that prioritised specific journeys to release to market according to customer and business needs.

Kick off

Synechron framed an agile scope with the bank that allowed for the prioritization and flexibility of requirements to be adjusted based on customer and business needs through a managed services delivery model.

Agile Design & Development

The program utilize the agile delivery model over a 9 month cycle, with 3 key releases to bring the journeys to market.

Discovery phase

A Discovery phase was undertaken to shape the product strategy per proposition, and to create an experience concept to validate the target customer journey.

Ongoing Development & Support

To date, Synechron continues to support the bank in production support and continuous improvement to optimise the customer experiences.

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