CashwerkzAustralian fintech Cashwerkz is implementing a new technology platform for its online cash investment marketplace.

“The new serverless platform architecture will help Cashwerkz to quickly deliver new defensive cash investment solutions and innovations in a dynamic workplace,” the firm said.

Chief Technology Officer Peter Whitfield believes that transforming the process for online cash investing highlights even more potential for business innovation.

“We really wanted to adopt a more open and flexible platform architecture and be more agile when it came to product development. This was not a cost-focused decision, instead it was a strategic technology decision designed to build better business outcomes,” Whitfield said.

Cashwerkz’s new architecture is based on a serverless, event-driven, cloud-native technology strategy, the company said.  This helps the business reduce the time to market for new features with reduced overheads when compared to its previous server-based architecture.

“This strategy allows Cashwerkz to focus more of our technology resources on delivering business value instead of running infrastructure,” he added.

“With greater business agility we can now spin up new concepts and offerings faster than ever before. This gives us a unique opportunity to integrate to other bank and adviser platforms via a range of unique data feeds, and further connect consumers to a growing range of cash investment offerings via our developing API ecosystem,” Whitfield said.

Cashwerkz delivers an online cash management marketplace in term deposit and at call accounts, whilst providing funding to over 43 Authorised Deposit taking Institutions and thousands of financial advisers and direct investors. Cashwerkz Limited is listed on the Australian Stock Exchange.

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by Krishna V Kurup
Senior Market Analyst at IBS Intelligence
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