Juliana Binatti discusses cloud-based payments at the Singapore Fintech Festival

The world is seeing a revolution in payments, with digital methods replacing cash and more real-time transactions. Juliana Motta, Co-Founder and CPO at Pismo, discussed this new generation of payments at the Singapore Fintech Festival (SFF), one of the most significant events in the financial services industry globally. The panel about payments was part of a session focused on Brazil, the World Fintech Festival / Brazil. Bruno Diniz, South America Director at FDATA, moderated the discussion, which also had the presence of other entrepreneurs and executives.

The scalability problem

Juliana highlighted some advantages of the cloud-based microservices architecture compared to legacy systems: “Cloud computing solves the scalability problem. The payment infrastructure has to meet demand peaks on dates such as Black Friday and Christmas. And the microservices have the intelligence to autoscale when needed.” “And we don’t have to scale the whole system — only the necessary microservices. For instance, if a client launches an advertising campaign to get more customers, we scale the microservices that perform the onboarding process. During Black Friday, we scale the ones that do the transaction authorisations.” “There is no idleness in this model. Clients use what they need and only pay for what they use,” Juliana said. She also pointed out other advantages of the microservices architecture: it is versatile and allows applications to be built fast.

An OTC system for B3

As an example, Juliana mentioned the development of an over the counter (OTC) management system for B3, the owner of the Brazilian stock exchange: “B3 wanted to manage OTC assets related to interest-bearing accounts. It’s a product they offer to digital banks. We had never done that before. But we realised that we could quickly develop the application using the building blocks that we already had. It was a very successful project.” Organised by the Monetary Authority of Singapore, the Singapore FinTech Festival is in its 6th edition. The event brings together 60,000 participants from 160 countries yearly – both virtually and in-person – for the development of financial services, public policy and technology. The video footage of the panel about payments (in Portuguese) is available on LinkedIn.