DONE: An Overview of Microservices in Financial Technoloy-3

WHAT ARE MICROSERVICES? For those of you who are just catching up, let’s take a step back for a second and set the stage. Microservices are an architectural pattern in which a software system is split up into distributed services. These services tend to be autonomous, loosely coupled, and independently deployable, each running a unique process to serve a business outcome. Whereas a monolithic architecture crams an entire application into one codebase, a microservice architecture tends to distribute by business functionality. For example, functionalities like credit checks or funding could live in different microservices, each developed and managed by a different team.

Think of it this way: If a monolithic system is akin to kids riding a school bus, microservices are super-children riding unicorns.

THE ADVANTAGES OF MICROSERVICES A Microservices approach comes with many benefits over the monolith. And, while microservices are far from a silver bullet (we will touch on the challenges in the next section), the architectural style can promote agility and speed to market for those who do make the transition responsibly. Let’s take a look at some key advantages of microservices: • Independently Deployable

• Resilient • Scalable • DevOps Oriented • Polyglot

Source: J.D. Power Survey Illustrations sourced from Freepik

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