Introduction
In this first part of our series on leveraging composable architecture for modernizing portals and experiences in the banking industry, we'll explore the basics of composable architecture and micro frontends. We'll explain what these terms mean and why they're important for building scalable and flexible web applications that can keep up with the evolving needs of the banking industry. We will also describe how it empowers product squads to work independently to develop micro apps that can be composed together on the front end to make it seamless for the banking customer.
In recent years, the banking industry has witnessed a rapid transformation in digitalization. Banking customers now expect a seamless and consistent experience across multiple touchpoints and channels. As a result, many banks are looking to modernize their portals and experiences to meet these expectations. Composable architecture has emerged as an effective solution to address these challenges. By leveraging micro frontends and composable architecture, banks can empower product squads to work independently and develop micro apps that can be composed together on the front end to make it seamless for the banking customer.
In this article, we will discuss the technological aspects of leveraging composable architecture to modernize portals and experiences in the banking industry. We will explore how banks can leverage micro frontends to implement composable architecture at the front end, and how it empowers product squads to work independently to develop micro apps that can be composed together on the front end to make it seamless for the banking customer.
What is composable architecture?
Composable architecture refers to an architectural pattern that allows for the creation of systems made up of small, independent, and interchangeable components. These components can be developed and deployed independently and can be combined together to create new applications or features. In this way, composable architecture is similar to the concept of microservices, where a system is broken down into small, self-contained units that can be managed and developed independently. Today, using Module Federation, it is possible to go beyond micro services and enable independent product squats to build robust micro applications that can be composed into a seamless functionality for both retail and corporate banking clients.
Composable Architecture for Modernizing Portals and Experience
A composable architecture allows for greater flexibility, agility, and scalability, as well as faster time-to-market.
In the banking industry, composable architecture can be used to modernize portals and experiences by creating a modular and flexible front-end architecture. By using micro frontends, banks can break down their front-end application into smaller, independent components that can be developed and deployed independently. This allows product squads to work independently and develop micro apps that can be composed together on the front end to make it seamless for the banking customer. Micro frontends are a microservices-based approach to front-end development. Micro frontends break down the front-end application into smaller, independent components that can be developed and deployed independently. Each micro frontend represents a different part of the front-end application, such as a menu, search bar, or content area. These micro frontends can be composed together to create the complete front-end application.
Enabling autonomous Product Squads to accelerate the digital transformation
This ability to breakdown the front-end application into smaller, independent micro frontends, banks can empower product squads to work independently and develop micro apps that can be composed together on the front end to make it seamless for the banking customer.
For example, a bank may have a product squad responsible for developing the login page. Using micro frontends, the product squad can develop and deploy the login page as a separate micro frontend. They can also develop and deploy other micro frontends that represent other parts of the front-end application, such as the account dashboard or payment page. These micro frontends can be composed together to create the complete front-end application.
By using micro frontends for composable architecture, banks can achieve greater flexibility, agility, and scalability. They can also enable faster time-to-market, as each micro frontend can be developed and deployed independently.
In the next part of this series, we'll dive deeper into the technology aspects & high level approach of leveraging micro frontends to implement composable architecture at the front end.
