Transforming a legacy brokerage platform into a global, API-Driven SaaS solution enabling geo expansion, product innovation, and operational efficiency for a US-based fintech leader.
Executive Summary / Overview
A leading US-based Brokerage Fintech Solutions Provider partnered with Persistent to transform its legacy brokerage API platform into a scalable, location-agnostic SaaS solution. The goal was to support global expansion, introduce new equity-based products, and streamline operations through automation and shared services.
Persistent defined and executed a comprehensive technology strategy that included modernizing the platform architecture, enabling multi-tenancy, and integrating regulatory-compliant services for international markets. The result was a robust, scalable, and efficient platform that significantly reduced operational costs and accelerated product launches.
Highlights
Global SaaS Enablement
Built a location-agnostic, multi-tenant brokerage API platform.
Product Expansion
Enabled support for options and mutual fund contracts.
Operational Efficiency
Reduced infrastructure readiness cycle by 90% and regression test time by 70%.
Cost Optimization
Achieved 50% reduction in operational costs through offshore-onshore model and shared services.
Story
Challenges
The client faced several challenges with its legacy brokerage platform, including limited scalability, high operational costs, and fragmented IT practices. As the business aimed to expand into new geographies like Singapore and introduce new equity-based products such as Options and Mutual Funds, the existing infrastructure lacked the flexibility and compliance readiness to support these goals. Additionally, the absence of automation and shared services led to inefficiencies in testing, deployment, and platform support.
Solutions
- To address these challenges, Persistent defined a forward-looking technology strategy and executed a comprehensive transformation roadmap.
- A global, API-first brokerage SaaS platform was developed with multi-tenancy and feature toggles, enabling region-independent partner onboarding.
- A regulatory-compliant middleware layer was built to meet Singapore’s legal requirements, exposing over 50 APIs for trading transactions.
- Persistent also designed and implemented a Post-Trade Platform to manage corporate actions, settlements, and reconciliations, integrating with diverse data sources like DynamoDB, Aurora PostgreSQL, and Snowflake.
- Automation was introduced through Selenium-based testing, and a hybrid offshore-onshore operational model was established to drive cost efficiency and continuous support.
Outcomes and Benefits
- Global Partner Onboarding: Enabled seamless onboarding across regions with configurable multi-tenancy.
- Accelerated Product Launches: Successfully launched Options and Mutual Fund products globally.
- Operational Efficiency: Reduced infrastructure readiness cycle by 90% and regression test time by 70%.
- Cost Savings: Achieved 50% reduction in operational costs through shared services and offshore delivery.
- Improved Maintainability: Enhanced platform scalability and maintainability with optimized resource utilization.
Technologies Used
- Backend: Java Microservices, GoLang
- Databases: Redis, DynamoDB, PostgreSQL (Aurora), Snowflake
- Messaging & Integration: Amazon SQS, Confluent Kafka, ActiveMQ
- API Management: API Gateway
