Minka, digitizing money in Latin America
Minka Inc. is a 'Colombian' Fintech that was born in 2016 with the aim of implementing a new core banking business model based on 100% % in the cloud through its infrastructure called Minka Cloud, which, using disruptive technologies such as Blockchain to add transactional security to the operations carried out, wants to connect all the banking entities in the region to make low-value monetary transfers between them with agile, safer and real-time integrations.
They are currently making the biggest bet by providing their services to ACH Colombia, who is the largest payment centralizer in Colombia with its instant transfer platform, providing an SDK so that all banks in Colombia join this initiative from their mobile applications. The product that the company is making has a regional scope and it is estimated that by 2020 it will be in more than 4 countries in addition to Colombia and Bolivia where it currently has a presence.
To evolve its product, Minka decides to migrate its current infrastructure to Google cloud in search of agilely addressing various technological challenges that make it possible to adjust to each business and regulatory requirement that arises. Within these non-functional definitions is the implementation of the High Availability solution that allows compliance with the legal guidelines of Service Levels that the regulatory entities require. On the other hand, communications are another challenge since the premise of the service is to provide a secure platform, but without the cumbersomeness of traditional communication channels such as VPNs.
“We are looking for a product that is agile and revolutionary 100 %, we know that establishing a VPN with a bank can be very difficult, it takes a long time, and it is not really adding value to the business,” says Domagoj Rozic, CEO of Minka. Finally, within the migration process, it is expected to be able to use most of the components under the PaaS mode that allows focusing on the business and not on managing infrastructure.
To meet the challenges of migrating Minka Cloud together with Servinformacion, they approached several iterations that allowed to solve each of the requirements that the solution demanded, the business core that has a platform based on Blockchain uses a supported database in graphs with Neo4J. To migrate this solution, an architecture with high availability was proposed in the east1-a and east1-b zones with a VPC network structure and with internal IP addressing that is within a DMZ.
In the service layer, the development language is NodeJS; Chosen for its ability to respond quickly to customer requests. As a result, the App Engine Standard was adopted as a service technology that enables focus on code, delegate security, manage logs natively, and dovetail with company CI / CD processes. Finally, a DRP was proposed for the data in the central region 1 based on Snapshot in an incremental way as the first recovery point, the deltas of the transactions are recovered based on Logs in StackDriver.
The World Wide Web changed the way information is accessed and managed, Minka wants to do the same with money.
*All rights reserved. This publication is for commercial, informational and illustrative purposes. The content on this portal has the sole purpose of highlighting the success stories developed, implemented, managed and supported by SERVINFORMACIÓN. On the occasion of contracts, purchase orders and other legal instruments entered into with the aforementioned companies. The information published is exclusively intended to describe the contracted service, respecting the commitments of confidentiality, non-disclosure and use of the brand. SERVINFORMACIÓN under no circumstances reveals information of a confidential, sensitive or reserved nature according to the contracted service and in accordance with the regulatory framework of Law 1581 of 2012, Decree 1377 of 2013, and other regulations that regulate the protection of personal data in Colombia. This publication is supported in part by the framework of Law 1150 of 2007, Decree 19 of 2012 and Decree 1082 of 2015 rules that regulate Public Procurement in Colombia and the right of companies to register and publish the experience in a Unique Registry of Proponents (RUP) with the intention of presenting themselves as proponents in the different modalities of public procurement. SERVINFORMACIÓN when publishing the names of the entities and companies using the logo, text and photographs, it should NOT be interpreted that between SERVINFORMACION and the entities there is a de facto partnership, consortium, joint venture, association, shareholding, or joint venture. The logo and brand was taken from the main page of the Entity, without any alteration and for illustrative purposes and for reference only. The only relationship that exists or existed between the entity and company mentioned was the provision of a service. If you consider that we are violating your rights with any publication (text, photography or use of logo), please contact us at the email: email@example.com and this publication will be expanded, supported or corrected.
Have a smart location project in mind?
Increase the Productivity of your company and improve your business opportunities
Tell us your idea.