FinTech

Digital Risk Management Platform

FinTech

Digital Risk Management Platform

About Client

Client is a pioneer in industry that provides catastrophe risk modeling, real-time risk exposure and risk management through available live data, legacy data, assumptions and studies

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business requirement

  • Being the pioneer of the industry, the core challenge was to facilitate the customer with scientific and objective measurement of natural calamities that enabled the efficient flow of money needed to insure and manage the disaster and ultimately mitigate risks to reduce the consequences of natural disasters.
  • Being the risk modelers, challenge was to input the best data available, refine the boundaries between actual data and assumptions, represent uncertainty, and provide the best situation view of the risk.
  • To fulfill the goal, a system was required through which customers could get the information of natural calamities happening around the world. Hence, a portal that could meet all the above requirements efficiently with pricing, managing, and transferring catastrophe risk with available legacy data, assumptions and accurate analytics was required.
  • The system should estimate the scope, loss and impact of natural calamity. Also the seamless searching across the application would help user to retrieve the data with keywords.

The Solution

  • Liferay being open source Enterprise portal, built in Content Management System and a robust java based web platform was our choice of platform for building the RMS Application.
  • As the frontend application could be mobile or web, the data was retrieved via restful spring web services. The frontend design was customizable with the help of the template driven custom html user interface. The template driven user interface was equally backed by Custom Spring Portlets.
  • To improve the performance of the application, JavaScript & YUI framework was used which enabled the advanced client side execution policy. The Liferay native UI components have been the core UI elements which were improved with above add-ons and frameworks.
  • For the search functionality, Google Search Appliance (GSA) & Solr search were implemented to facilitate user to search for the required data through keywords. The system consisted of Solr & GSA both of which have been implemented together.
  • SmartBox was also integrated with these searchers to provide definition of the keyword as and when required. Result of the search can be document files, video links, web content or similar data available with the system.
  • The system consisted of a robust document archive module with Liferay’s out-of-the-box document management that dealt with the large data, content and reports. Besides the default document management, few customizations had been done to fulfill custom workflow requirements.
  • To have a graphical representation of the natural calamities happening everyday around the world, Google map APIs are used with pinned affected zone pan world.
  • In-depth training for the employees using this application was required for optimum utilization of available data. A training module was developed which provided training courses and exams for the users to achieve this.
  • Above all these, Liferay hooks and extensions were used to make the application rich in terms of UI and functionality. Google Analytics made application even more powerful with accurate data analysis and intelligence.
  • Considering stability, execution speed and available support, MSSQL database engine was chosen with large amount of actual data and reports. Server availability was also very critical while working with risk management. Server clustering and load balancing were implemented which ensured highest availability of server and faster execution.
  • Jenkins tool is used for deployment that allows continuous integration and continuous delivery of projects.
  • Blackboard is also integrated with the system for training and course management.

To summarize the application, please refer diagram below

Solution

Benefits

  • Centralized information ensured data integrity & performance optimization
  • Automated provisioning and de-provisioning for user management
  • Smart Search with Definition through SmartBox
  • Business Intelligence achieved using Google Search Appliance & Solr