Transformative,
scalable and resilient
solutions for the
FinTech and
Blockchain space

Erlang and Elixir in FinTech

Innovative FinTech partners

We focus on business outcomes using expert consultancy and software engineering designed to tackle the ever-changing challenges of today’s financial services industry. Our core BEAM based technologies are used in Fortune 500 financial firms and FinTech startups alike due to the baked-in high uptime and resilience they provide.

Our consultative approach delivers impactful outcomes and solves mission-critical problems for FinTech firms so they can focus resources on meeting their strategic goals and growth.

We prototype, build, monitor and maintain solutions used for payment systems, backend services, digital lending, clearing and settlement services, digital wallets, blockchain, digital custody and digital asset exchanges by companies including Klarna, Vocalink (Mastercard), Visa, Danske Bank, Safaricom and Bloomberg.

FinTech Trends In 2021 Whitepaper

We have just published the Erlang Solutions’ FinTech Trends In 2021 Report with contributions from several influential industry commentators from around the world. Discover what’s next from a technical and business model perspective. The report is ready to download now.

Trusted By

Proven, battle-tested
solutions for FinTech

What is the integration of value?

Blockchain innovators are turning to Erlang and Elixir due to their leading status among programming languages for distributed, high bandwidth, peer-to-peer systems. We work with innovators in the space from ideation and the development of a proof-of-concept to a full-production deployment for commercial application development running on a particular distributed ledger network, blockchain enabled payments and cryptocurrency solutions.

Transaction processing systems

Guarantee the reliability, performance, and consistency of your transaction process system (TPS) with Erlang and Elixir technology. We work with some of the world’s leading financial institutions on their TPS solutions, ensuring the collection, modification, and retrieval of all of their transaction data.

ATM Switching Solutions

Leading financial institutions look to Erlang Solutions to guarantee that their customers’ payments end up where they should and that transactions happen with the absolute minimum delay.

Switching solutions

Build a credible alternative to cash and card payments with real-time payments that run on technology that is proven, resilient and always available. With Erlang and Elixir, we have been able to offer 99.9% availability and our resilient deployment ensures that transactions are always safe. Today, IPS developed by Erlang Solutions for Vocalink and the innovative P27 Scandinavian cross/border payment initiative are recognised as global standard bearers for real-time payments.

Our FinTech
capabilities

    FinTech Consulting

    Our experts support you at every stage of the solutions and software development life-cycle. We strive to understand customer requirements and the system being reviewed. For FinTech startups we offer a better way to build for scalability from the start while avoiding the common tech decision pitfalls which so often lead to failure. Our professional knowledge transfer enables your in-house team’s capabilities.

    Learn More

    Erlang and Elixir rapid development

    Proven, battle-tested enterprise success in building backend systems with uptime up to 99.99% thanks to our tech’s concurrency model and error handling approach. The Erlang VM is used across the FinTech industry as well as traditional banking. Erlang soft-real time distributed systems can be updated faster, have significantly fewer vulnerabilities and reduce the cost of physical server infrastructure. Elixir is ideal for full-stack web development which combines with powerful web frameworks such as Phoenix LiveView for outstanding productivity and performance.

    Learn more

    Instant Messaging for FinTech

    From reliable delivery through to sensitive privacy concerns, Instant Messaging (IM) in financial services must have reliability and security baked in. MongooseIM is our customisable enterprise level IM solution, which can be tailored to fit any FinTech use case and meet the standards of operating in a highly regulated environment.

    Learn about MongooseIM

    Middleware Service Messaging

    As the most widely used open source message broker available, RabbitMQ is a popular choice in the tech stack of the largest financial services firms and FinTech startups alike. Our expert team is trusted by Pivotal, the creators of RabbitMQ. We provide support, feature development, health checks and more to help you get the most out of your RabbitMQ deployment.

    Learn about RabbitMQ

    Security and monitoring

    Humio is the only log management platform enabling complete observability from streaming logs in real time. Self-hosted or in the cloud it is used by a number of successful digital banks. Humio’s instant visibility gives security teams the continuous insights needed for immediate actions and data-driven responses to prevent infrastructure breakdowns, and protect against attacks. The platform provides cost reduction through reduced hardware costs, on-prem options for increased security and is readily auditable to meet financial regulators compliance requirements.

    Learn about Humio

    Kubernetes and containerisation

    Erlang Solutions offer a complete range of Kubernetes services for Erlang and Elixir applications so that your business can enjoy all the benefits of the technology while avoiding the pitfalls facing your competitors. As well as general Kubernetes consultancy we also offer bespoke corporate training to upskill your development team.

    Learn more

    Databases

    Riak is a distributed NoSQL database that offers high availability, fault tolerance, operational simplicity, scalability and is ideal for cloud computing. Talk to us about how we can use Erlang based technology to improve the resilience and performance of your database.

    Learn about Riak

    Our FinTech
    capabilities

    FinTech Consulting

    Our experts support you at every stage of the solutions and software development life-cycle. We strive to understand customer requirements and the system being reviewed. For FinTech startups we offer a better way to build for scalability from the start while avoiding the common tech decision pitfalls which so often lead to failure. Our professional knowledge transfer enables your in-house team’s capabilities.

    Learn More

    Erlang and Elixir rapid development

    Proven, battle-tested enterprise success in building backend systems with uptime up to 99.99% thanks to our tech’s concurrency model and error handling approach. The Erlang VM is used across the FinTech industry as well as traditional banking. Erlang soft-real time distributed systems can be updated faster, have significantly fewer vulnerabilities and reduce the cost of physical server infrastructure. Elixir is ideal for full-stack web development which combines with powerful web frameworks such as Phoenix LiveView for outstanding productivity and performance.

    Learn more

    Instant Messaging for FinTech

    From reliable delivery through to sensitive privacy concerns, Instant Messaging (IM) in financial services must have reliability and security baked in. MongooseIM is our customisable enterprise level IM solution, which can be tailored to fit any FinTech use case and meet the standards of operating in a highly regulated environment.

    Learn about MongooseIM

    Middleware Service Messaging

    As the most widely used open source message broker available, RabbitMQ is a popular choice in the tech stack of the largest financial services firms and FinTech startups alike. Our expert team is trusted by Pivotal, the creators of RabbitMQ. We provide support, feature development, health checks and more to help you get the most out of your RabbitMQ deployment.

    Learn about RabbitMQ

    Security and monitoring

    Humio is the only log management platform enabling complete observability from streaming logs in real time. Self-hosted or in the cloud it is used by a number of successful digital banks. Humio’s instant visibility gives security teams the continuous insights needed for immediate actions and data-driven responses to prevent infrastructure breakdowns, and protect against attacks. The platform provides cost reduction through reduced hardware costs, on-prem options for increased security and is readily auditable to meet financial regulators compliance requirements.

    Learn about Humio

    Kubernetes and containerisation

    Erlang Solutions offer a complete range of Kubernetes services for Erlang and Elixir applications so that your business can enjoy all the benefits of the technology while avoiding the pitfalls facing your competitors. As well as general Kubernetes consultancy we also offer bespoke corporate training to upskill your development team.

    Learn more

    Databases

    Riak is a distributed NoSQL database that offers high availability, fault tolerance, operational simplicity, scalability and is ideal for cloud computing. Talk to us about how we can use Erlang based technology to improve the resilience and performance of your database.

    Learn about Riak

    Scalability issues continue to plague modern blockchains, innovative, comprehensible, and truly revolutionary solutions must be pursued if æternity was ever to achieve widespread adoption. We are thrilled to collaborate with Erlang Solutions to work towards overcoming these challenges.

    Yanislav Malahov Founder of æternity
    system monitoring

    ESL x Trifork

    We are part of the Trifork group of tech companies who work closely together to deliver innovative software solutions for the financial services industry. Trifork has worked in the banking business for many years developing some of the very first mobile banking solutions, like MobilePay and WeShare. If you’re a FinTech scaleup looking to leverage external expertise and give yourself room to focus on the core of your business take a look at our blog post summarising some of our latest projects to discover more about what we do.

    Our take on building blockchain solutions

    Software engineering

    Embrace best practice in software engineering, including the use of functional programming and its design patterns. Develop and optimise code that speeds up the software development process, its evolution and adaptation, delivering on critical time-to-market business requirements, essential for production blockchain success.

    Leverage auto-generated Property Based Test and continuous stress tests combined with traditional Test Driven Development. This approach ensures that high quality is preserved throughout the lifecycle of a system.

    Use modern agile software development methods that support scaling your team. Agile deployment automation, type checks, sensible naming conventions and documentation are critical, especially during handovers or when onboarding new developers.

    Distributed systems

    Work with engineers with previous experience in the development of massively scalable systems. This will ensure the correct decisions are made in choosing partitioning, sharding and replica parameters.

    The need for engineering highly scalable and distributed systems has grown, and this is what we do every day. Our distributed systems cater to billions of users and transactions on a daily basis and are resilient against node crashes or bad actors, and exclude single points of failure.

    Networking

    Find a team with experience in growing automated network traffic management and dynamic topologies. Monitoring capacity and expertise need to be embedded to allow adaptation to changing scenarios and to identify problems before they occur (preemptive adaptation).

    You must ensure that back-pressure control protects the system’s capacity against overloads and increases robustness. These modern approaches are valid for centralised, decentralised and distributed peer-to-peer (p2p) networks and are often associated with bespoke service discovery mechanisms.

    Security & resilience

    Potential security threats and the sensitivity of data should be of the utmost importance to any FinTech working with blockchain. The right expertise is required to monitor your system and repair mechanisms. Dedicated secure p2p protocols, static analysis and property-based testing are techniques for system security. Information validation is used to protect against the man in the middle (MitM) attacks. Back pressure mechanisms protect against distributed denial of service attacks (DDOS).

    Both symmetrical and asymmetrical encryptions are used to achieve the highest level of security possible. It’s also worth checking on hardware security ensuring that sensitive private keys are only accessible via hardware security modules (HSM).

    Integration

    Integrating applications on top of complex backends or replacing existing legacy systems, as well as providing synchronous and asynchronous interfaces among backends, is a serious job. So it’s worth checking if your team use frontend facing APIs such as REST and Websocket to implement responsive applications. They should comply with industry standards for compatibility and security to drive message exchanges on top of a variety of AMQP and JMS queuing mechanisms.

    We can provide guidance to plan effective and reliable integration tests, ensuring the compliance of data validation and communication protocols is preserved throughout the development process.

    Programming languages

    Engage with true polyglots! We’re a team of engineers who specialise in one tech and are highly competent in all other popular languages in the industry – Java/Scala, JS, C/C++, Python, Rust and Go. Expertise in language interpretation and virtual machines has proven to be critical know-how in a variety of modern blockchain solutions.

    When contributing to projects in any of these languages, we can guide development by introducing design patterns coming from functional programming such as the actor model.

    The Payments Switch is highly fault tolerant yet offers massive concurrency. This is critical to payment transactions. At the same time the development project cooperation with Erlang Solutions was agile and responsive, giving us the opportunity to explore the possibilities to support our clients.

    Adam Kennedy Product Director at Vocalink

    Industry resources

    fintech telco blog post

    Lessons FinTech Can Learn From Telecom – Part 1/2

    Many lessons learnt from the telecoms industry can be applied to Fintech. And Erlang/Elixir/OTP technologies have a case as the right tool for the job.

    Many lessons learnt from the telecoms industry can be applied to Fintech. And Erlang/Elixir/OTP technologies have a case as the right tool for the job.

    erlang and elixir conference

    Building Decentralized Applications dApps using the BEAM

    Erlang is perfect for building blockchain and decentralised apps. In this episode the VP of Engineering at ArcBlock explains why and how they use Erlang.

    Erlang Solutions' blog

    Smart Contracts – How To Deliver Automated Interoperability

    This blog post outlines just how smart contracts came into existence and how they relate to contracts in the non-digital sense.

    Erlang Solutions' blog

    FinTech Client Case Studies – Erlang Solutions and Trifork

    Trifork with Erlang Solutions are developing world-leading FinTech solutions. Learn more about innovative open banking platforms, blockchain solutions combining machine learning and AI.

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    Erlang Solutions exists to build transformative solutions for the world’s most ambitious companies, by providing user-focused consultancy, high tech capabilities and diverse communities.