Messenger Microservice Workflow for Paused Transaction Updates
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Solution Overview
Problem
Existing transaction processing systems face challenges in handling regulatory, security, and risk management complexities, leading to transaction failures and delays, which disrupt customer experiences and complicate fraud investigations.
Innovation Solution
A transaction exchange platform using a streaming data platform (SDP) and microservices to process transactions, allowing for pausing and updating transactions based on external requests, and utilizing a messaging microservice to communicate with external parties for missing information or fraud investigations.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If transactions are processed through comprehensive regulatory, security, and risk management workflows, then transaction reliability and security are improved, but processing time and system complexity increase
Solution Approach 1:
The transaction processing system is divided into separate microservices, each responsible for specific functions such as regulatory compliance checking, security validation, risk management, and fraud detection. This segmentation allows each service to process transactions independently and in parallel, reducing overall processing time while maintaining comprehensive security and regulatory coverage through multiple specialized services operating simultaneously rather than sequentially.
2Reliability
If transactions are paused for external communication to obtain missing information or conduct fraud investigations, then transaction accuracy and security are improved, but processing speed and customer experience deteriorate
Solution Approach 1:
The transaction processing system dynamically adjusts its behavior based on real-time conditions. When a transaction requires external communication for missing information or fraud investigation, the system can pause processing temporarily and then resume once information is obtained. This dynamic approach allows the system to maintain high processing speed for straightforward transactions while selectively pausing only when necessary, thereby balancing transaction accuracy with processing speed and minimizing impact on customer experience.
3Adaptability or versatility
If the system supports legacy operations and adapts to changing requirements, then system versatility and reliability are improved, but device complexity and difficulty of implementation increase
Solution Approach 1:
The transaction processing platform is designed as a universal system that can handle multiple transaction types and adapt to changing requirements through a standardized microservice architecture. The system incorporates configurable workflows that can be dynamically adjusted to accommodate new regulatory requirements, business rules, or transaction types without requiring fundamental system redesign. This multi-functional design allows the same platform to support legacy operations while adapting to future changes, reducing overall system complexity compared to maintaining separate systems for different functions.
Data Source
AI summary
Aspects described herein may relate to a transaction exchange platform using a streaming data platform (SDP) and microservices to process transactions according to review and approval workflows. The transaction exchange platform may receive transactions from origination sources, which may be added to the SDP as transaction objects. Microservices on the transaction exchange platform may interact with the transaction objects based on configured workflows associated with the transactions. Processing on the transaction exchange platform may facilitate clearing and settlement of transactions. Some aspects may provide for pausing the processing of transactions during a workflow. Other aspects may provide for a messaging microservice that permits communications between the transaction exchange platform and external third-parties.