Agility in all aspects of the Fintech ecosystem can bring competitive advantage and also business operational efficiency. Elitery stands to help in maintaining your buisness IT operation. Fintech startup company and InsurTech have been established in Indonesia. Some have succeeded in getting tens of thousands subscribers as well as considerable funding from inside and outside the country. After innovation, in the future, the Fintech application agility will determine its competitive advantage.
The Importance of Increasing Fintech Applications Agility
Fintech applications agility is a top priority target that by all digital financial service providers around the world, until 2020. Basically, Fintech’s innovation is aimed at providing a wide range of ease and reach. Fintech applications agility is a serious challenge faced by digital financial service providers. The ease financial transaction process through innovation must continue to be supported by Fintech applications agility. There is no standard size yet to complete a financial transaction process on the Fintech app, but ideally it should be about 1 minute to 2 minutes. Fintech applications agility will directly affect user experience. The more smoothly, the user will be more satisfied and vice versa.
Challenges In Improving Fintech Application Agility
To be able to support speed in a microfinance transaction process, will require a solid information technology infrastructure. There are several things that can reduce Fintech application smoothness, among others:
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Locations and Networks
The location of data and applications is very influential in Fintech applications agility. In this case, network latency is a factor to consider. In addition, if the server is abroad (although in the cloud system), in cloudy and rainy weather there will be a slowdown on the network. Digital financial customers in Indonesia mostly access the internet through mobile networks that are not as fast as DSL, this is a good reason for that. They make transactions anywhere, and even during the rainy season they will transact. Frustration when using an app to transact should be avoided to achieve a successful Fintech business.
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Testing and Scalling
One of Fintech’s success factors is innovation. By presenting new features that are more useful, the company will have competitive advantage. However, in testing, if the digital ecosystem is not yet supported for the DevOps method, then the possibility of downtime will often occur. In addition to inhibiting the smoothness of Fintech applications, downtime has a very high cost consequence on all types of industries.
“The DevOps environment can support live testing, so as not to interfere with ongoing operational processes”
Higher workloads will require orchestration to create auto-scaling. With automation and orchestration, the company can gain efficiency significant in addition to improving its application agility. In addition, data center orchestration can also be useful for compliance with data sovereign requirements.
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Backup and Migration
In every business, the best backup practice is to include backup on locations outside the operational environment. Associated with the sophistication of malware attacks, a backup solution must have behavior recognition pattern technology. Either for backup or migration, network latency issues remain a major consideration. The success of migration, fail-over, and fail-back is the goal of a backup. By having the best practice backup, your business will be faster in response to any incident.
Apart from these factors, API integration in Fintech application will also affect to overall financial transaction process. Likewise in the management of data (Big Data) to create new innovations. Thus, continuous innovation principe can only be supported with a good digital ecosystem. Therefore, it is time now to strengthen your information technology infrastructure.
Elitery Solution For Fintech Indonesia Company
Elitery has a TIER III data center facility certified by Uptime Institute, ISO 97001, and PCI DSS V.3.2 certified, making it highly reliable as a means of deploying servers and backup systems for financial institutions. Currently, Elitery’s data center has received recommendations from Bank Indonesia and OJK (Indonesia Financial Regulator), and has been trusted by dozens of financial institutions in Indonesia, including banks, Fintech and InsurTech companies, and also brokerage firms. Elitery also provides managed services or IT outsourcing solutions that implement the DevOps method which is the best approach to support IT operation agility. Elitery IT infrastructure management services has been trusted by several companies in Indonesia and abroad, with satisfactory results. By using Elitery’s IT management services, you can gain access to talented skills and certified experts to support your Fintech application agility. You can trust your information technology infrastructure management with Elitery. Feel free contact our team for further information and to discuss your business needs.
