🔍 Financial Industry Side Chat: MongoDB Device Sync for Multi-Mobile Application Platform

🗓️ Situation:

• Complex when multiple people from a company using app simultaneously online and offline
• Cannot sync and resolve conflicts
• E.g., two invoices submitted with the same invoice number, data get lost

💾 MongoDB Device Sync:

• Build great offline-first apps
• Modern mobile database
• Built-in edge-to-cloud sync
• Sync data between mobile device and database
• Single interface, language, APIs

📲 Device Sync:

• Real-time data synchronization between edge clients and MongoDB Atlas
• Consistent, reliable
• Automatic network handling, conflict resolution, authentication, and permissions
• Devices and applications maintain consistency
• Maintaining uninterrupted service (critical: inventory tracking, point-of-sale transactions)

🔄 Specify which data changes to synchronization:

• Reduces bandwidth usage
• Critical updates are prioritized
• Enhancing data transfer efficiency

💳 Neobank:

• Agibank, a digital-first financial company
• Offers banking services like checking accounts and debit cards
• Generating financial, digital inclusion
• Target customer is low-income population
• Transition from both physical & digital environment

🌐 Hybrid Platform:

• Combines digital banking, physical stores
• Make people's daily lives better through credit, insurance, banking services
• Financial transactions
• Apply for a loan or credit card
• Insurance policy
• Confirm customer identity (tax, identification documents, photos, biometric)

🌐 MongoDB Atlas on AWS:

• Each transaction is meticulously logged in
• Ensure a transparent audit trail

🧠 MongoDB Flexible Data Model:

• Store complex, varied data
• Cost efficiency
• High performance
• Scalability

📈 Prometheus Monitoring System:

• Unified dashboard
• Identifying and resolving potential issues
• Performance Advisor
  • Identified and eliminated bottlenecks
• Query Profiler
  • Better user experience
• Efficient indexing
  • Proactive insights

💳 Reference:

https://www.mongodb.com/solutions/customer-case-studies/agibank
Agibank Improves Content Management and Reduces Costs by 90%

https://www.mongodb.com/products/platform/atlas-app-services/device-sync
Device Sync

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Editor

Danny Chan, specialty of FSI and Serverless

Kenny Chan, specialty of FSI and Machine Learning