Reengineering Investment Application Ecosystem for a Premier Advisory Firm

Solution Overview

To address the critical issues plaguing the project, Itexus implemented a multi-faceted approach aimed at stabilizing the existing application while accelerating its developmental progress. The key components of this solution included:

Architectural Restructuring:

  – Transitioned from fragmented microservices to a cohesive modular monolith for improved performance and easier code management.

Infrastructure Improvement:

  – Configured cloud resources effectively.

  – Rectified the Continuous Integration/Continuous Deployment (CICD) pipeline.

New Application Development:

  – Created a new application that utilized existing code while providing a more stable framework by effectively wrapping older microservices.

Rapid Issue Resolution:

  – Swiftly addressed bugs and implemented new features.

  – Automated operational tasks to enhance overall efficiency.

Enhanced User Experience:

  – Integrated data analytics and reporting utilities to improve insights and decision-making.

Auxiliary Applications:

  – Developed a back-office system to streamline operations.

  – Empowered the client’s in-house support team, enabling them to handle issues independently, significantly reducing response times.

This comprehensive strategy not only improved system stability but also enhanced the overall user experience. 

Project Challenges

The project encountered several significant challenges that impeded its progress and effectiveness, including:

Vendor Issues:

  – Initial collaboration with the first vendor resulted in a poorly executed product.

  – Significant instability led to frequent crashes and unreliable data management.

– Fragmented Architecture:

  – Inconsistent implementation of microservices caused conceptual problems at the domain level.

– Infrastructure Shortcomings:

  – Misconfigured cloud infrastructure hindered operational efficiency.

  – Inadequate management of Continuous Integration/Continuous Deployment (CICD) processes.

– Communication Lapses:

  – Ineffective project management practices resulted in a lack of clear documentation and knowledge transfer.

– Knowledge Gaps:

  – The new team at Itexus faced significant challenges due to limited understanding of the existing project mechanics.

– Client Resistance:

  – The client struggled with reluctance to invest in necessary redesign efforts.

  – Attempts to salvage a codebase that was merely a makeshift prototype further complicated the situation.

These compounded challenges necessitated a comprehensive overhaul of the project to establish stability and functionality in the application.

Third-party integrations

Throughout the project, the need for effective third-party integrations was a significant focus for the team. Initially, the existing setup included integrations with various services that were poorly designed and maintained, contributing to system instability. In the course of the stabilization efforts, it was determined that some integrations, particularly those with local payment providers, were no longer viable and needed to be phased out. Itexus proposed replacing these with more reliable global solutions, such as Cloudpayments, to enhance payment processing and improve overall functionality.

Additionally, the project team recognized the necessity of implementing communication channels for user notifications. While an integration with OneSignal for push notifications was already in place when Itexus assumed the project, the team suggested transitioning away from this service in favor of native push notifications. This change was in line with the client’s desire to reduce costs while increasing system stability. The reliability of application performance was further supported by incorporating Sentry for error logging and monitoring, enabling the team to swiftly identify and address issues as they arose.

For data services, the integration of multiple data providers such as Alphavantage, Yahoo Finance, and https://www.investing.com/ allowed the application to deliver real-time market data, enhancing the decision-making capabilities of users. Furthermore, to facilitate seamless customer relationship management, Salesforce was integrated into the ecosystem.

The goal of these third-party integrations was to create a more cohesive and efficient user experience while ensuring the application remained stable and reliable. The enhancements not only streamlined existing processes but also paved the way for future functionalities, such as the development of Telegram bots to support user engagement and automate notifications, indicating a commitment to leveraging cutting-edge technology in the investment management landscape.

Results & future plans

The engagement with the client yielded significant results, leading to the stabilization of their applications and a marked improvement in user experience. By addressing critical issues related to reliability, functionality, and operational processes, the client was able to regain user confidence and enhance service delivery. This remodeling resulted in a 42% increase in clientele within the two months following the launch of the new system. Additionally, the integration of natively supported push notifications, a robust CRM, and an optimized CMS paved the way for more efficient customer interactions and data management.

To further support their ongoing success, the Itexus team assisted the client in building their own in-house team to manage the system effectively. This included conducting interviews for potential candidates, providing comprehensive training and onboarding, and offering permanent consultation on system operations to ensure smooth running and continuous improvement.

Looking forward, the client has expressed a strong interest in exploring projects related to artificial intelligence in the coming year, recognizing the potential to harness advanced technologies to further enrich their platform and user offerings. This forward-thinking approach positions the client for continued growth and innovation in an ever-evolving fintech landscape as they seek to enhance their services and keep pace with emerging industry trends.