Strategizing With Cloud Deployment Models: Hybrid Vs. Multi-cloud

Cloud computing is a necessity when it comes to business development for a variety of reasons. Specifically, when we take into account the fluctuating demand for data management during platform growth, we understand that there are many moving pieces during this stage. 

Cloud computing adds the much-needed structure to the platform and allows it to perform at a standard that ensures a quality user experience.

However, there need to be parameters put in place that cater to various needs of the platform such as storing data, managing resources, and ensuring that what’s being built is accessible and scalable. 

Simply put, whatever vision there is for a platform (website, web app, mobile app, etc), there are options that need to be weighed, especially when it comes to the integration of cloud computing tools. 

Cloud tools can make or break the performance and sustainability of your platform. What needs to be taken into account when weighing options for the best tools includes the following:

• What specific needs does the platform have? How can certain cloud services assist these needs? Why?

• Is the cloud provider reliable? Examine the past experiences of businesses that have used the cloud service. 

• How much security and protection does the service provider offer?

• Is the tool scalable? Flexible? Can changes be made?

• What’s the company's budget? Is the tool financially viable?

When a company looks at that list, it may seem obvious that choosing the right cloud service provider is no small task but still they may not be clear on their options. In 2023, cloud computing services are the most advanced they’ve ever been, and innovation is only becoming more rampant.

Company “Needs”

You hear “it depends on the company's needs…” all the time, but what are these needs exactly? Well, in the case of cloud computing, the typical needs being filled are based on daily processes. 

For example, a healthcare organization may need cloud computing to manage patient data, store digital health records, or even facilitate secure communication. An e-commerce store may need cloud computing to handle its online transactions, manage inventory, and ensure data security for its customers' personal and financial information.

When it comes to strategizing how a company will structure their platform using cloud services, the two main deployment models are either hybrid cloud or multi-cloud, so with that said, here’s how to find the best option:

Multi-cloud? Hybrid Cloud?

The way a business chooses to structure its cloud systems is completely subjective. When it comes to choosing which tool to use and when to use it, there are a few things that need to be considered:

Multi-cloud: As the name implies, this feature utilizes multiple cloud services from various providers, as opposed to relying on just one provider to tend to all of the platform's needs. When it comes to flexibility and efficiency, multi-cloud is a great choice. 

For example, an organization can use Amazon Web Services (AWS) for data storage, Google Cloud Platform (GCP) for machine learning functions and analytics, and also Microsoft Azure for application hosting.

Hybrid Cloud: The “hybrid” refers to balancing private and public cloud systems. The difference between these systems is simply dictated by what the provider of each service offers (each comes with unique benefits). 

For public cloud - third-party providers use the internet to provide scalable resources to their users.

For private cloud - the computing infrastructure is owned and operated by the organization itself or by a third-party provider but is used exclusively by that organization.

An example of a hybrid cloud in action could be a business that uses a private cloud to store confidential data, while also using a public cloud service such as GCP or AWS to store non-sensitive data along with applications that need to have flexibility.

What this does is allow the organization to be more in control of their data security measures while at the same time having the privilege of the scalability aspect of a public cloud. 

Choosing One

When an organization chooses between these models, there’s one key determining factor behind the decision: the type of data being stored.

Different companies have specific data that needs to be secure and other data that needs to be accessible to users. So if an organization is looking to prioritize security, then a hybrid cloud model will be beneficial to organize as well as categorizing sensitive and non-sensitive data. 

On the other hand, if a company wants a platform that’s super flexible and that they plan on growing long-term, then multi-cloud could be a great option to recruit services that can handle a bigger influx of data and add-on features. 

What’s Next?

Inevitably, the long-term vision of the brand is a necessity when releasing any sort of digital platform. 

What is the goal when it comes to user experience? 

That is the key question that needs to be answered before resorting to cloud computing options. What happens once an organization has this answer is weighing the pros and cons of each solution as it will determine the logistics surrounding UI/UX design, the tech stack used, and the overall architecture of the platform.

Written By Ben Brown

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ISU Corp is an award-winning software development company, with over 17 years of experience in multiple industries, providing cost-effective custom software development, technology management, and IT outsourcing.

Our unique owners’ mindset reduces development costs and fast-tracks timelines. We help craft the specifications of your project based on your company's needs, to produce the best ROI. Find out why startups, all the way to fortune 500 companies like General Electric, Heinz, and many others have trusted us with their projects. Contact us here.

This is How Software Developers Build a FinTech App

Between 2020 and 2030, the global FinTech market value is expected to grow sixfold from $110 billion to nearly $700 billion. In this section, we’re shifting the focus from the services offered to the technology that provides an application to deliver them. We’ll start with the basic understanding that putting together a FinTech app is not an overnight process. Many components go into its construction to ensure both the quality and security of back-end data processing and front-end user experience. 

The IT technologies used in the development of FinTech services are what have pushed the industry to succeed. When consumers experience the convenience aspect of FinTech, the front-end functions are a mere puppet. The digital mechanics behind those functions pull the strings and interconnect to provide that convenience. These mechanics and their intended results are what we’re going to cover in the following sections.

Artificial Intelligence (AI) and Machine Learning (ML)

AI and ML are two technologies that are dominantly used in the development of FinTech applications. The main reason is because of their ability to assist with processing large quantities of data. This data is collected from both consumers and global trends which, when processed, determine the service that is delivered. Here are some of the results from these processes:

Security and Identifying fraud: FinTech platforms work while processing a very high volume of data 24/7. This raises the risk of criminal activity which could easily slip by traditional processing methods that lack the resources of AI and ML. With these modern advancements, they can trace and detect patterns in the data, allowing them to flag a cyber-criminal when irregular data is recognized. Research has shown that this technology can reduce fraud by 70% with a 90% accuracy rate in detection.

Options: Users of FinTech apps have access to insights that will give them the advice to manage their finances. This is broken down into easy-to-understand visuals such as pie charts, monthly spending tracked on a progress bar, and organizing payments to be made. Users will then get insights based on this data for how to put themselves in a more beneficial financial position.

Managing Assets: As stated previously, AI and ML stay in tune with global financial trends which they use to make predictions for investment opportunities. Users have access to this info and can choose to make investment decisions based on the advice provided.

Personalizing Customer Support: AI and ML data tracking collects user information which benefits the platform in tending to the needs of consumers. This ties back into the technology that keeps up with user habits. Ultimately, it makes customer support much easier and keeps access consistent through automated bots. 

Microservices

In software development, microservice architectures are a trend that developers have recently been utilizing in their work. Microservices are large-scale applications that are condensed into smaller autonomous blocks. This makes it simple for developers to work on areas of the system without disrupting the entire application. When it comes to interfaces and operations in FinTech, it is necessary to ensure users have access to the latest and greatest.

Here are some specific areas of coverage:

Agility within the application: You can add or remove as well as innovate any solution to keep up with changes in the market.

Highly reliable: When several components are operating autonomously within an application, it reduces the risk of system failure. When one component goes down, everything else continues running and the owner is notified that it needs to be fixed.

Transferable between systems: Once a microservice is developed, the components of the application it was developed for are reusable for various FinTech solutions. This is because a microservice architecture can connect to other systems through API. The API will act as the intermediary that allows the applications to communicate.

Increased development speed: A software developer would not have to start from scratch when building a microservice. Going back to transferability, there are unique aspects of microservices that may not be used much but can be added to developing solutions. Developers can create a minimum viable product (MVP) with these microservices and adjust the system based on how users react to it. 

Blockchain

The central spot for storing data for FinTech is in the Blockchain. This technology has risen to popularity in recent years for its ability to send secure transactions and utilize cryptocurrency instead of fiat money (money made legal tender by the government). The decentralized and encrypted structure of the Blockchain makes the management of transactions safe and highly efficient. When AI meets the Blockchain in an application, it allows the processing and supervision of data to operate easier and smoother in addition to avoiding potential mistakes. Companies have turned to this pairing for these specific reasons among others, and FinTech is no exception to the shift.

Here are some ways FinTech uses Blockchain to its advantage:

Easily pay peer-to-peer (P2P): This can be compared to Whatsapp’s encrypted messaging system that allows users to send messages around the world instantaneously. Blockchain processes payments similarly, eliminating the need for any middleman services in the process. 

Digital ID: To eliminate fraud in the Blockchain network, every user needs to validate their identity, like most other platforms. As soon as they’re registered in the system, tracking their activity is very simple and tracked regularly.

Cryptocurrency Exchange: Applications like Coinbase or Crypto.com use Blockchain to allow users to trade cryptocurrency assets.

Critical Components of a FinTech App

Every FinTech app is going to serve a different purpose. You can be a digital payment service, online banking, InsurTech, online lending, or even a crypto wallet or platform. Whichever service you’re fulfilling, you need to assess what aspects are critical for your application. To get you started, here are some sought-after features often used in FinTech apps:

• Visual data display: Breaking down information regarding income, expenses, and transactions.

• Flexible UI: Your application should be easy to navigate and understand, as well as have a way to engage users. For example, the crypto exchange application Coinbase uses a “learn and earn” feature where users are taught and quizzed on crypto assets in exchange for virtual currency.

• Gateway for payments: This basic feature allows users to make money transfers and payments. This is commonly the main selling point to get users to download a FinTech app.

• Virtual assistance: Users are increasingly interacting with virtual assistance (especially those that use a voice) for the unique experience it offers. Additionally, applications need a front-facing support system to help customers.

• Security: FinTech as an ecosystem is locked down and secure, yet one of the areas still in need of innovation is the security of FinTech apps. Additionally, studies have found that hackers attempt to break into computers connected to the internet every 39 seconds. 

So now that we’ve covered the details of what your FinTech app should consider in its development, what's left is how to do it. We’re going to break this down into a three-step process:

Step One: Study your market

Determine whether or not there is a need for your service. To do this, you’ll start by finding services similar to yours and evaluate how well they’re doing. What could you do better? Also, how are users interacting with these services? You want to determine if there are limits on the existing services and/or if your vision is something people need.

Step Two: Determine your project's logistics

Once you’ve analyzed the market you want to enter, you will have an understanding of who will use your application and what components you will need to generate appeal. This will then lead to evaluating the timeline and budget needed. Of course, both timeline and budget will vary depending on the technology stack you go with which will be determined after speaking with your software developers.

Step Three: Build your team

A FinTech application is highly complex and will require a team of experienced developers with the tools for the task. Typically, outsourcing this kind of development is a company's best bet when they don’t have an in-house team. Additionally, outsourcing would help save on your budget as you’re only paying for the results that the software development team produces. It’s ultimately going to come down to finding a team you’re comfortable with and that understands your vision and who can then make that vision reality. 

Finally

When putting together a FinTech application, the process is going to be subjective based on your business's goals. It’s going to be a bit of trial and error especially if you take it on in-house, but that will provide answers as you go. The great thing about developing a FinTech app is that there is so much variety in terms of how you offer your service and how you innovate it. With the right software, your application can scale and fulfill the needs of millions of users.

Written By Ben Brown

—

ISU Corp is an award winning software development company, with over 17 years of experience in multiple industries, providing cost effective custom software development, technology management, and IT outsourcing.

Our unique owners mindset reduces development costs and fast-tracks timelines. We help craft the specifications of your project based on your company's needs, to produce the best ROI. Find out why startups, all the way to fortune 500 companies like General Electric, Heinz, and many others have trusted us with their projects. Contact us here.

The Technology That Builds an E-Commerce Site

Over the last decade, organizations have been dealing with E-Commerce sites and virtual marketplaces. We’ve seen a wide-scale utilization of business tools driven by the internet such as dropshipping, affiliate marketing, social media influencing, and much more. Those who are successful have inspired others to take action and grow the industries as well as the requirements that virtual infrastructures need to keep up. For example, retail stores are adopting and dominating the E-Commerce sector which has invoked motivation for new entrepreneurs to initiate their approach. When an E-Commerce site becomes successful, it needs scalable technology to accommodate its customers. 

This is E-Commerce 101; both marketing and delivery of services don’t need to happen in the physical world. Every E-Commerce site aspires to have a place in the virtual Madison Avenue and Fifth Avenue. Everything you need to market, scale, and sell through sites is available online and it is only made possible through the technology behind the screen. Whether you’re looking to launch a website, app, web app, or anything of the sort, you should understand the program requirements to make you a serious contender in the E-Commerce sector.

This will ultimately start with drafting a “tech stack” which is a list of every piece of technology and its purpose that will go into launching and operating your single application. Firstly, you want to focus on the two components (or layers) necessary to base your stack around:

1. Front-end/Client-end: What will your client see and have access to whilst using your system? You'll need frameworks and development languages for the client side to create the appeal. This goes back to why UI/UX is crucial for development— you need your application to be engaging and keep users coming back.

2. Back-end/Server-end: What will allow your application to function? Various back-end languages exist (PHP, Ruby, Java, . Net, etc). The implementation of these languages will interconnect to ensure a smooth operation. For E-Commerce, this is how the program will be able to store and keep information secure in the database. 

Technology stacks are crucial for determining the components that will construct the final product and how well that product can perform. When it comes to building an E-Commerce site, some tools will serve you better than others. Ultimately, a well-done stack will show: 

• A summary of the programming languages, tools, and frameworks that the developer will require to interface the application. 

• The degree to which the system will be able to meet objectives for the business and assist with projects.

• A plan for scalability: What level of traffic do you anticipate? Will you run serverless? You’ll want to have an understanding of the application's anticipated workload.

• Will data be stored in the cloud? Or can it be stored locally?

• Is the app on an enterprise level? Or is the solution more lightweight?

• How will the application perform on the devices it’s intended for?

• How clearly defined is the end goal? Developers will need this to deliver an adequate result.

Now that we’ve identified the areas to consider for a tech stack, let's move on to the best frameworks and programming languages that developers can use for your E-Commerce site:

Front-end: These are the development tools that will build what the user can see and interact with when they enter your site.

• JavaScript: The most commonly used programming language for the front end due to its ability to generate interactivity for static HTML pages. Additionally, it is flexible when integrated with other languages and frameworks. 

• React.js: This is the most used framework when creating the interactive elements of a site. E-Commerce sites such as Tesla, Airbnb, Netflix, Uber, and The New York Times were all built with React.js. Many factors contribute to this wide-scale usage but the main draws include the ease of adoption, versatility, and speed of software development.

• Node.js: An open-source (code is easily accessed and can be modified) environment that is compatible with other platforms to build front-end and back-end solutions based on the JavaScript engine. The specific engine it runs on is chrome v8 which will convert code from JavaScript into machine code. Essentially, the reasons behind its use come down to Node.js being lightweight, highly scalable, and data-intensive.

Angular: This front-end framework is made for building mobile, web, or desktop applications. Being open-source and TypeScript-based makes it cost-effective and transparent when expressing the components of the application. Additionally, google houses a majority of the development team which increases its credibility.

Back-end: These are the tools that developers will use for the architecture, In E-Commerce, this consists of: managing orders, organizing products, web page edits, payments, registration, SEO, and more. To perform these responsibilities, look at:

• C#: This programming language is general-purpose and is used to build many kinds of applications and programs such as native apps, websites, cloud-based services, games, and much more. 

• PHP: This is a back-end language mainly used for website applications due to its role as an open-source as well as a general-purpose scripting language. This means that the language is highly adaptable in terms of compatibility and scalability. Additionally, as an open-source is it free which would make development costs manageable. 

• Java: A general-purpose, class-based, object-oriented language meant to build highly advanced software for a range of systems and devices. Like JavaScript, it can run on almost any platform. 

There are a variety of frameworks with Java that ensure the efficiency of implementation and operation. One of the most commonly used is Spring which further streamlines the Java programming process. It is another open-source framework that will assist developers when building Java applications. It will however require a level of expertise as Spring is a complex system to navigate. The difference is of course that Java is a programming language and not a programming script.

What’s Best For You?

There are many more front and back-end languages and frameworks that make up technology stacks. If you’ve gone the route of developing your E-Commerce site without the help of an outside consultant, it’ll be wise to start with a pre-existing stack. Here are three that are the most commonly used:

1. Python and Django: Highly ranked option for E-Commerce startups as it is highly scalable which will be beneficial as the traffic of your site grows. In terms of back-end functioning, this is going to be a secure environment that is ready to handle the volume. Lastly, the web server that developers typically go to when using this stack is Apache and for management of the database, there is PostgreSQL or MySQL.

2. MEAN (Mongo DB, Express, Angular, and Node.js): This blend of systems is frequently used for constructing online stores. However, for bigger-scale applications, it won’t be your best option.

3. LAMP (Linux, Apache, MySQL, PHP): This stack is great for websites and web apps as well as simply getting your project off the ground quickly. 

After you’ve chosen a stack, there are a few more steps you’ll need to take to reach an optimal outcome:

Identify Requirements: Every project has its specifications in terms of what it needs and the resources available. For example, your store may need to be accessed on a mobile app or have an automated supply chain invoice system.

Time to Market (TTM): How long until your concept is reality? Commerce is a highly competitive industry, as a startup, you want to build this credibility with your customers as soon as possible. Don’t stall the development process over hesitation instead define your ideal and get logistics in place. For example, if you think the Python and Django stack is your best option then identify the number of developers you’ll need to get started.

Scalability: This is a pillar of E-Commerce and whether you’re a startup or starting a new initiative, you’ll want to envision how it will continue to build. This is going to influence the choice of the technology stack as you’re thinking long-term. 

The Team Behind You: In the end, the developers working to build your system are going to dictate the quality of the outcome. Since this factor holds so much power, it has led to nearly 60% of companies outsourcing software development.

Finally

Technology stacks are your organization's key to freedom and a shield from headaches. Project development is very complex and can become volatile when faced with a lack of organization. Define your ideals in terms of languages, programming, and frameworks that will give your developers a running start in the success of your project. 

Every obstacle has a way through and when it comes to technology this is something you realize over time. An outsourced team of experienced IT technicians can save you a lot of time and money in comparison to taking on a project with an in-house team. 

Written By Ben Brown

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