Dependable Real-Time Banking With Ksolves : Apache Kafka

Gone are the days where people used to stand in queues for any banking services they need. They are no longer interested in going to a bank for every small or big thing. As the world is changing and so is the banking sector. Now more and more banking providers are going digital with their products and offerings. Today, we will talk about how the banking sector can benefit from real-time banking with Ksolves?

Banking apps in real-time world

Banking sector has significantly changed over the past decade and is still undergoing transformation. Earlier, SMS banking and mobile web were the most popular and known ways of banking outside banks. But, the good part of technology is that it evolves, and with the development of smartphones and advancements in technology like iOS and android OS, mobile banking applications are slowly becoming a part of the real world. 

This year the pandemic has forced everyone to stay at home and has accelerated the transition of banking services to digital channels like banking apps. If we are talking about  Banking apps, we must understand the importance of real-time. 

A truly real time banking app needs an event-driven architecture. When we talk about building EDA, Apache Kafka is the most popular solution that comes to our mind. But, the question is who can provide you the best Kafka services and deliver the best real-time banking apps? If you are also stuck with the same questions, You have come to the right place.

But, before we tell you how we do it, first understand why Kafka is the ideal choice for banking apps.

Apache Kafka: The best choice to deliver banking apps

The popularity of Kafka can be understood by the fact that 7 out of 10 largest banks and financial institutions like Goldman Sachs, Capital One, American express and many more prefer Apache Kafka. 

Kafka comes with certain characteristics that make it the perfect choice for developing real-time banking apps:

• Low latency- Certain use cases like fraud detection and real-time payments require fast data delivery. Apache Kafka provides low latency even with high throughputs and large data volume.
• High scalability and throughput- Large Kafka clusters can handle trillions of events and petabytes of data. 
• Data integrity- Some mission-critical banking use cases need Kafka since they require high data integrity. 
• Durable- There is nothing worse than losing data in the banking industry. Kafka is highly durable and can store all messages on a disk for a long time.
• High availability- Kafka is designed keeping in mind the failover capabilities. 

Dependable real-time banking with Ksolves

Ksolves is an Apache Kafka development company that provides Apache Kafka services in India and the USA with a vision to deliver the best possible solutions to the real-world problems. Ksolves enhances and complements Kafka’s capabilities by offering a simple, dependable, and secure platform to distribute events with flexibility. 

By using Ksolves, you can develop as well as innovate your banking apps. 

Benefits of using Ksolves for real-time banking

We empower banking industry with Kafka services to deliver their needs like-

• Kafka application development with deployment strategies.
• Integration with end-to-end enterprise.
• Enhanced security for banking applications.
• Multiple security mechanisms.
• Reduced infrastructure costs.

Ksolves real-time banking use cases

Let us bow look at various use cases of real time banking with Ksolves

We have used Apache Kafka as an integral part of the banking ecosystem for our various clients. We can now detect fraudulent transactions in real time more efficiently to ensure the security. The majority of traditional fraud detection systems are hard to scale up and that is why we use Kafka to handle huge volumes of data.

Payment processing

Traditional banking systems resort to batch processing when it comes to payments. While Kafka can replace batch processing with real time payment processing and offers more streamlined payment processing.

Analytics Dashboard

We all know that Kafka is an event-driven solution. Ksolves leverage the power of Kafka to ensure end-user analytics dashboard are updated in real time.

In-app support

Ksolves banking apps come with in-app support features to enable customers to communicate with banking personnel. Ksolves Kafka services provide high throughput and low latencies.

Alerts

Imagine what could happen if there is no alert for any fraud and other malicious activities. Ksolves has been building notification and alerting services around Kafka for end users so that they can be notified as soon as the event takes place.

Conclusion

Kafka is reliable and provides stream processing features and that is why it is commonly used by banking service providers. It’s event-driven architecture provides capabilities such as real-time fraud detection and payment processing. Ksolves has been an Apache Kafka development company delivering Kafka services for many years. Our in-house Kafka experts are known to provide most affordable services with the best in industry solutions.

If you wish to know more about Apache Kafka or have any doubts, write to us in the comment section below or give us a call for your free demo.