FastPost: a billion financial transactions in under an hour
FastPost is a rule-driven, high-performance accounting platform developed by Stratoflow for Legerity. Its in-memory engine processes large financial datasets, maintains ledgers and supports reporting for telcos and insurers worldwide.
- 1,000,000,000
- financial transactions processed in under one hour, in the cloudProduction figure
- Sub-second
- queries over billions of balancesProduction figure
- Nearly 10 years
- our engagement with Legerity, from 2013Nathan Pesin, CTO, Legerity Financials
- Client
- Legerity, the company behind FastPost
- Sector
- Financial services software: accounting engines for telcos and insurers
- Year
- From 2013, for nearly ten years
- Engagement
- Dedicated Stratoflow team as the main development team, later under a Team Extension arrangement
- Stack
- Java, in-memory data processing and distributed grid, open-source components, cloud deployment, modular architecture
A new finance platform that had to beat established competition on technical capability
Legerity selected Stratoflow as the main development team for FastPost, its rule-driven accounting platform. The requirement was a modern finance platform of outstanding technical capability: an accounting engine, ledger and reporting system able to process volumes that the incumbents handled in overnight batches, in the cloud, and to keep evolving as clients were won.
Agile process, short delivery cycles and close collaboration were necessary to build a product that could compete with established vendors from the first proof of concept onward.
Legerity, the company behind FastPost, was acquired by insightsoftware in April 2022. The FastPost product page describes its accounting rules, subledger and reporting capabilities.
In-memory processing, open source, modular, cloud
We designed an architecture built on in-memory data processing and open-source components to provide a horizontally scalable, high-performance accounting engine, ledger and reporting system. Running in the cloud shortened implementations, limited running costs and let the platform scale up and down with volume.
A modular architecture made each functional extension a natural step in product evolution while still tailoring the platform to each client. The development team in Poland gave the client access to senior engineers and seasoned technical consultants at rates that were themselves a competitive advantage over the incumbents.
What the platform does in production
- 1B / hour
- financial transactions processed in the cloudProduction
- Billions
- of balances queried in sub-second timeProduction
- Global
- implementations at major telcos and insurers, competing with Oracle, SAS, SAP and Moody'sClient
The developed software product was built from scratch with solid quality. We have had a long-term engagement with Stratoflow for nearly 10 years. We look at them as partners, rather than contractors. I'm impressed by their team culture and cross-team support.
The features implemented have received overwhelmingly positive feedback from end-users. Stratoflow has an incredible technical expertise and a high degree of flexibility when it comes to changing project requirements.
Adam HillChief Technology Officer, LegerityThe offers this engagement proves
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