Nirmal Bang – FinTech Solutions: Optimizing Cost & Efficiency with Cloud Automation

Introduction

Nirmal Bang, a leading financial services firm, sought to modernize its back-office systems while reducing costs through cloud migration and automation. Managing large data volumes, trade reconciliations, compliance risks, and onboarding inefficiencies posed significant challenges.

Texple partnered with Nirmal Bang to build a scalable, cost-effective, and automated solution using cloud infrastructure, cutting-edge web technologies, and seamless data integration.

Project Scope & Texple’s Role

Texple was responsible for developing a scalable and automated deployment pipeline to ensure:
✅ Efficient code deployment through automated workflows.
✅ Optimized cloud infrastructure to reduce operational costs.
✅ Real-time data processing for financial transactions.
✅ Faster onboarding & reconciliation to enhance operational efficiency.

Technical Overview of Nirmal Bang’s FinTech Solution

Tech Stack:

• Frontend: Next.js
• UI Frameworks: Material UI, PrimeReact
• API & Data Handling: Axios
• Charts & Analytics: Chart.js
• Authentication & Notifications: Firebase
• Infrastructure: AWS (S3, Spot Instances, ALB, Event-Driven Architecture)

Automated CI/CD Pipeline:

1. Code Packaging: The application code is zipped and uploaded to an S3 bucket.
2. S3 Event Notification: An event is triggered when a new file is uploaded.
3. Spot Instance Activation: A spot instance is launched dynamically to process the new code.
4. Build & Deployment: The spot instance:
   • Pulls the code from S3
   • Builds the application
   • Deploys it on an Ubuntu-based server
5. Load Balancing: The spot instances are managed behind an AWS Application Load Balancer (ALB) to ensure high availability and failover support.

Challenges & Solutions

1. High Operational Costs from Traditional Infrastructure

Problem: Legacy systems led to high infrastructure costs due to underutilized resources.
Solution: By implementing Spot Instances, Texple reduced compute costs significantly while maintaining scalability and reliability.

2. Managing Large Data Volumes & Reconciliation Delays

Problem: Trade reconciliation and data processing were slow and error-prone.
Solution:

• Real-time data processing using event-driven architecture.
• Optimized Next.js frontend for faster data visualization.
• Implemented automated reconciliation workflows for accurate financial tracking.

3. Ensuring Compliance & Reducing Trade Errors

Problem: Compliance checks and trade verifications were time-consuming.
Solution:

• Automated monitoring tools for data validation.
• Chart.js-based dashboards for real-time trade analysis.
• Firebase authentication & security layers for data integrity.

4. Slow Onboarding & KYC Process

Problem: Manual KYC verification led to delays in onboarding new users.
Solution:

• Streamlined KYC workflows using automated form validation.
• Integrated Firebase notifications for real-time user updates.

Key Benefits Delivered

✅ Cost Reduction: Cloud migration & Spot Instances cut infrastructure costs by 40%.
✅ Scalability: Load-balanced deployment ensured high availability.
✅ Real-Time Data Processing: Faster trade reconciliation and reduced errors.
✅ Improved Compliance: Automated checks minimized regulatory risks.
✅ Faster Onboarding: Enhanced KYC automation improved customer acquisition.

Conclusion

By leveraging cloud automation, real-time data integration, and event-driven workflows, Texple successfully modernized Nirmal Bang’s back-office operations. This resulted in a scalable, efficient, and cost-effective FinTech solution that drives better financial management and operational excellence.