The decomposition of what would otherwise be a monolithic core banking system into a collection of several hundred independently deployable and scalable microservices, hence a (coreless) banking system.

Microservice boundaries (functional encapsulation) are guided by the Banking Industry Architecture Network (BIAN) Service Landscape, and microservice granularities (message-level details) are guided by the Interactive Financial eXchange (IFX) XML Schema.

The collection of BIAN/IFX-based microservices are reusable and can be agilely assembled into any number of different banking and non-bank alternative solutions.

The key component of the Narfin platform, includes:

a) design time service governance features; e.g. service repository, service life cycle management,

b) runtime service governance features; e.g. service mediation, service monitoring & reporting;

c) API management features; e.g. API gateway, API exchange;

d) API usage dashboards and billing features;

e) cloud-based multi-tenancy and scalability features; and

f) ISO security compliant platform infrastructure.

All solutions are built on top of the core engine including solutions developed by Narfin and solutions developed by Narfin’s clients.

The API exchange enables clients to develop, expose, and monetize their own APIs to third party clients. The core engine is, in a sense, a solution factory.

The Solutions Layer can also be referred to as the “user interface layer”.

All of Narfin’s out-of-the-box solutions are built on top of the core engine and include presentation logic only.

Business functionality and data is accessed through API calls, via the core engine, to the underlying microservices.

By reusing the underlying microservices, solutions can be rapidly assembled.

The Narfin platform also enables clients to develop their own “Build Your Own” (BYO) solutions by invoking the existing APIs documented in the Narfin service repository, or by invoking their own APIs which can be exposed via the Narfin API Gateway.