FinTech solutions

Synergy of finance & technology gives us a fair clue intothe topic of this rapidly growing industry. FinTech mainly focuses on business, which uses technological advances to boost or automate processes in financial services. It ranges from investment applications and mobile banking to insurance and cryptocurrency.

FinTech has grown rapidly over the past few years due to massive increase in the internet and especially smartphone usage. However, it is not limited only in this area since FinTech has been firstly implemented in the commercial sphere – introduction of ATM’s, credit cards followed by automated & high-frequency trading.

Uses of the FinTech is in the world of finance almost endless. Main drivers are innovative start-ups that push the innovation level over the edge. Therefore, traditional banking institutions must adapt rapidly to the ever changing FinTech environment. An interesting area is the combination of trading with AI & Machine Learning, where the ability to predict market movements is invaluable.

Working in financial markets is connected to some specifics such as:

• Trading systems must process huge amounts of messages during market peak times. That requires a complex system architecture extensively optimized for high throughput and low latency. Such a peak may reach magnitude of hundred thousand messages per second with latency measured in milliseconds.
• Frequent need for a system integration via bridge applications connecting existing systems without need to change them. Building new system interfaces. Typical example are FIX (Financial Information eXchange) protocol converters.
• High Availability system design for mission critical systems. Robust system design with redundant parts (no single-point-of-failure) and a real-time system health monitoring allows high system availability reaching or exceeding 99.99%. It can be also combined with 24/7 operation mode (without any service batch). Several systems we developed or maintain are considered as a critical infrastructure in Germany, Austria, and other countries.

xitee has a profound experience in working for leading European stock exchanges and FinTech companies. For more information, see our projects.