Fintech

Fintech

In the rapidly transforming Financial Services and Insurance sector, companies face a confluence of complex and accelerating forces reshaping every aspect of the financial market. Established insurance firms, major banks, and FinTech startups alike turn to Bluetick Consultants to navigate these turbulent times and foster growth amidst unprecedented disruption.

Our expertise in Chatbot development and ERP solutions has played a pivotal role in enhancing customer interactions and operational efficiencies for clients like Link Intime India Private Limited and Edel Assurance LLP. As the wealth management industry continues to evolve, we empower organisations to not only meet but exceed the modern investor's expectations by enhancing their service offerings.

Discover how Bluetick Consultants can help your company thrive in the face of financial innovation and market challenges.

Real world applications

Data Engineering and Optimization for Financial Systems: Streamlining Large-Scale Data Imports with RabbitMQ and Modern Web Technologies

What was the business problem we solved?

Many of our clients, particularly new or transitioning ones, faced significant challenges managing large datasets stored in traditional formats like Excel (.xls) or CSV. They required a system that could seamlessly import these datasets into their applications without interrupting ongoing operations. This process needed to ensure that clients could continue their work uninterrupted, without having to manually input large volumes of data or wait for the import process to complete.

How did we make it happen?

At Bluetick Consultants, our solution was designed around the goal of seamless integration and minimal disruption. By leveraging advanced data processing frameworks and a robust backend architecture, we developed a system that could handle data imports asynchronously. This approach allowed users of the client's application to continue interacting with it while their data was being imported in the background.

Technologies

ROR
Reactjs
Amazon S
RabbitMQ
MongoDB
PostgreSQL

We utilised RabbitMQ, a message-broker software that enables complex routing scenarios and asynchronous task execution. Here's how it works:

RabbitMQ architecture
  • RabbitMQ acts as an intermediary for messaging. It accepts messages from producers (our application modules that handle file uploads and data extraction) and queues them until they can be processed by consumer services.
  • The data from CSV or XLS files is extracted and mapped to corresponding columns in the client's application database. Each piece of data is associated with a specific routing key and is sent through exchanges designated for different modules of the client's application.
  • This setup allows multiple modules of the client's application to import data in parallel, enhancing efficiency and robustness. Moreover, data validation is handled in the background before it even enters the client's application database, ensuring data integrity and reducing errors.

What major challenge did we face?

A significant challenge was the high degree of customization our clients require in their applications. Each client’s module could be customised extensively, complicating the data import and validation process. To manage this, we utilised a metadata-driven approach:

  • Metadata of all modules was used to dynamically adapt the data import and validation processes for each client's specific configuration.
  • This approach, enhanced by meta-programming techniques, allowed our system at Bluetick Consultants to flexibly adjust to varied and complex customer requirements without manual intervention for each customization.

What results did our client get?

The implementation of this automated data import solution dramatically improved operational efficiency for our clients. Key outcomes included:

  • Reduction in manual data entry: Clients saved countless hours that would have otherwise been spent on manually inputting data.
  • Low Latency for Data Availability: Data was quickly and efficiently available in the system post-upload, significantly speeding up workflow processes.
  • Enhanced data accuracy: Automated validations reduced the incidence of data errors, ensuring high data integrity.
  • Client satisfaction: The ability to handle complex customizations seamlessly greatly enhanced client satisfaction and reduced the administrative burden on their teams.

Conclusion

Bluetick Consultants successfully addressed the challenge of streamlining large-scale data imports for financial systems by leveraging RabbitMQ and modern web technologies. Through a combination of advanced data processing frameworks, metadata-driven approaches, and parallel processing capabilities, we delivered a solution that significantly improved operational efficiency and client satisfaction. The automated data import system not only reduced manual effort and wait times but also enhanced data accuracy, laying the foundation for smoother data management processes in the future.

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