Why Lego-Like Tech is going to change how you build architecture

Article 18/03/21

Why Lego-Like Tech is going to change how you build architecture

History

Previously the major trend for FI’s was to choose a single provider to supply the key parts of their architecture. Products such as core-banking and payment systems were sold as a complete package.

The technology behind these products would include

Connectivity
Orchestration
Cloud-Hosting
Transformation Layer
Auditing
Storage

A provider would be chosen who has the best overall solution. For example, the proposed software/solution may have the best-of-breed when it comes to Connectivity and Hosting whereas their Transformation layer may be lacking.

The recent trend however is for FI’s to instead break down these aspects into individual components from different vendors rather than a single overall solution.

https://www.finextra.com/newsarticle/36962/monument-picks-tech-vendors-t…

What is Lego-Like Technology?

“Lego-Like” technology where FI’s bring in dedicated vendors and resources to build a “best-in-class components” to solve key technology and messaging challengers will be a growth trend in 2021.

Rather than being reliant on a single provider offering a solution to each issue the FI can then pick and choose the best fit for each part of their tech solution (cloud, transformation layer, orchestration layer etc..) and build their own bespoke solution.

Why is this a growing trend?

The obvious answer is that by viewing these components individually the FI can then choose the best of breed element for their requirements. Cost is also an important factor with this trend as single solutions are, in general, more expensive then taking these components singularly.

How do you plug these components in?

Historically, connecting these different technologies was the main blocker to this approach. Connecting different vendors solutions was cumbersome and error-prone as different connection methods and practices were used by different solutions. However, the rise of API’s and their “Lego-blocks” architecture means this potential blocker is now removed and the ability to plug these components into the ecosystem is now much easier.

Why this trend makes sense for a CTO

This trend is mainly being used by new players in the market where the ecosystem is a blank page. However, moving forward established players are also leaning more to this methodology. These institutions may already have both the overall solution as well as the single components throughout their environment and are now looking to consolidate what technology they use. In some cases, the same components are duplicated for different parts of the enterprise and the need to streamline the products would result in a cost-cutting exercise

Simply put, the idea is to choose the best product for each component at a reduced cost, what’s not to like?

Transformer offers a fast, code-free approach to building solutions

Transformer dramatically shortens the time taken to build solutions involving complex standards.

The analyst using Transformer creates solutions directly in the intuitive Design-Time GUI. There is no coding stage, even when the required data transformation is highly complex. Projects remain clearly articulated and easy to maintain, and removing the old-fashioned ‘spec handover’ from analyst to developer eliminates a major source of risk and delay.

Users create mappings very easily in Transformer. For example, copying a field from the source to the target message just takes a simple ‘drag and drop’ action – Transformer automatically takes care of any reformatting required between the source and target syntax. To handle more complex mappings, Transformer provides a huge range of ready-made ‘mapping action’ building blocks. These can include conditions, which can in turn be combined into complex logic.

You can also run a test on each new ‘line’ of a mapping or validation as soon as it has been added, moving the testing process as far upstream as possible, and ensuring high quality from the very start. Transformer also provides powerful regression testing facilities to help ensure that future standards changes do not adversely impact existing solutions.

The full range of Transformer features can be explored here

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