Core Banking Modernisation Challenges
Challenges
- Monolithic core banking systems block innovation velocity
- ISO 20022 migration deadline pressure across all markets
- Open Banking PSD2/CDR API compliance requirements
- Real-time payment processing with sub-100ms SLAs
- Regulatory reporting across multiple jurisdictions simultaneously
- Zero-downtime migration from legacy to cloud-native
CloudFormation Solves
- Strangler Fig pattern — canvas shows legacy + cloud running in parallel
- Kafka MSK event streaming for ISO 20022 message processing
- API Gateway + OAuth2 + WAF scaffold for Open Banking APIs
- ElastiCache + Aurora for sub-100ms payment processing
- Redshift + Glue for automated regulatory report generation
- Blue/green deployment infrastructure for zero-downtime cutover
Migration Architecture
Event Streaming Layer
Amazon MSK (Kafka) or Azure Event Hub as the central event backbone. All core banking domain events flow through Kafka topics — accounts, transactions, customers, products.
Microservices Migration
EKS or AKS hosting domain microservices. Each service owns its own Aurora schema. API Gateway exposes internal services as Open Banking-compliant APIs.
ISO 20022 Processing
Lambda functions transform legacy SWIFT messages to ISO 20022 XML/JSON. SQS FIFO queues ensure exactly-once payment processing with automatic retries.
Regulatory Reporting
Kinesis Firehose → S3 → Redshift for immutable transaction audit trail. Glue ETL jobs produce Basel III, IFRS 9, and local regulatory reports automatically.
Business Outcomes
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