Financial markets are subject to control and regulation in the entire European Union. Supervisory institutions ensure transparency of the financial sector by adjusting the existing reporting requirements and introduction of new obligations. At FINGO, we provide banks and insurance companies with solutions that process vast amounts of detailed data and support reporting processes.
iON, our latest product, is a powerful tool which automatically processes millions of records in a short time. iON is based on a flexible and scalable service architecture and consists of three elements: a dedicated application, an ETL module and an authentication service.
Apache Spark engine is the framework responsible for the processing of data for multiple entities. iON is built with Java 8 and Spring Boot. In the development of the system, we also utilize Groovy to create DSLs. ReactJS is used for the front-end and Protractor for functional tests.
FinTech is governed by procedures, which makes it difficult to have significant impact on technology and architecture choices. However, since iON is our proprietary solution, we have achieved full autonomy in terms of programming decisions. The teams at FINGO, responsible for our advanced systems for the financial sector, have earned its trust and made the iON development possible and worthwhile.
We started working on the solution in February 2017. In August, iON helped to fulfill reporting obligations for the first clients. The tool is in continuous development.