Transformative,
scalable and resilient
solutions for the
FinTech and
Blockchain space
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.
Æternity
Learn how we helped fast track the development of an ambitious new blockchain project whilst also ensuring scalability at its core.
Read Case Study
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.
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
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.
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.
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.
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).
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.
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.
Industry resources
- Blog
- 6th May 2021
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.
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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.