Ospree recently implemented a modular microservices architecture to match the needs of VASP companies requiring fast response times and scalability on demand. This is essential for deploying the Ospree platform as part of a highly functional compliance solution capable of performing real time validations.

Microservice architecture has revolutionized the way software is built and managed throughout an entire business. The monolithic architecture model was originally built as a single unit of code, with no separate components. As a result, this traditional way of building applications is not modular, so any changes would have to be made to the entire stack at once. Jukka Pellinen, CTO at Ospree

Unlike its predecessor, microservices architecture has a modern approach to designing and constructing software applications, which compartmentalizes their components into smaller, independent services. Developers build and modify individual services without interfering with the work of other developers in other groups working on the same overall application. 

Further benefits can be achieved by containerization of the microservices, allowing for more flexible and dynamic deployments of the solution. The microservices can be fully isolated from each other, preventing any unintended conflicts. Server resources can often be better utilized with containerized applications, and applications can be deployed in a distributed architecture across multiple data centers and regions.

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5 Key Benefits of Microservices Architecture:

Speed

Microservices are relatively small and simple, and as their deployment process is carried out service by service, any downtime is minimized. As a result, businesses can experiment with new processes, algorithms, and business logic without worrying about their whole application failing if a microservice fails.

Since a small, isolated piece of functionality is easier to understand than a monolithic system, the process of getting up to speed can be accelerated. Modifying features does not require modifying the codebase. Instead, components can be tested, modified and deployed individually.

Flexibility

As each microservice addresses a distinct issue, such as searching data, logging, or implementing web services, developers are free to select the appropriate tools for their work. Each server can be developed using the language or framework they need without affecting communication between them.

Scalability

Microservices makes scaling to meet growing demand faster and more cost-effective. This approach works well for companies working with multiple platforms and devices since resources can be allocated to the most needed isolated microservices instead of scaling an entire app.

Security

It is possible to isolate a failure to a single microservice and prevent auxiliary failures that may crash the application. By using fault isolation, you can keep your critical application running even if one of its modules fails, enhancing its resilience. One way of further improving data security and compliance using the microservices architecture is through containerization. 

Traditionally, code is developed in a specific computing environment, which often leads to bugs and errors when it is transferred to a new location. By bundling the application code with all required configuration files, libraries, and dependencies, containerization eliminates this problem. The reimagined container software stands alone, and it is portable - it can be run on any platform or cloud, without any issues.

Future-Proofing

When developers establish data connections between the microservices, information security becomes a concern. In contrast, a secure API can keep data safe by restricting access to specifically authorized applications, users, and servers, which makes it easier to meet HIPAA, GDPR, and other data security requirements.