Moniepoint Brings Fintech Engineering Leaders Together to Discuss Building for Scale
- Moniepoint brings Nigerian fintech engineers together to examine the realities of building resilient financial infrastructure at scale
- Practitioners discuss distributed systems, architectural trade-offs, system failures, security and observability across Africa’s fintech ecosystem
- Moniepoint reveals real-time routing safeguards for managing uncertain card payment outcomes across processors and issuing banks
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Moniepoint has brought together senior engineering practitioners from across Nigeria’s fintech sector for an inaugural off-the-record engineering mixer in Lagos, with discussions focused on the technical challenges of building and operating financial infrastructure at scale.
The event, which featured engineering professionals from fintech companies including Flutterwave, Cowrywise and Nomba, provided a forum for practitioners to exchange views on the operational realities of running large-scale financial technology systems.
Source: Original
Discussions centred on topics including “Building for Scale: The Trade-offs of Distributed Systems in Fintech” and “Building Distributed Systems for POS at Scale.”
Industry leaders examine the realities of system failure
Participants explored some of the challenges that emerge as fintech platforms grow, including system failures, network dependencies, architectural trade-offs, observability, security and the need to design systems that can withstand unexpected failures.
The conversations also examined technologies and approaches such as sharding, asynchronous processing and service decomposition, highlighting the trade-offs involved in using each to solve specific engineering problems.
Speakers noted that while architectural changes can improve performance and scalability, they can also create additional operational, maintenance and monitoring requirements.
The discussions positioned these challenges as common issues for fintech companies operating in Africa, where payment infrastructure must contend with multiple processors, networks and financial institutions.
Moniepoint outlines approach to payment failures
The company also discussed its approach to building resilient card payment infrastructure, particularly how its systems respond when transactions fail, or their outcomes remain uncertain.
According to Moniepoint, its card payments infrastructure processes more than 20 million transactions daily and is designed to distinguish between transactions that are unlikely to succeed and those where the outcome is not immediately clear.
Ayomide Kolawole, Engineering Manager, Card Payments at Moniepoint, said reliable payment infrastructure requires engineers to understand where transactions can fail and what information the system has at each stage.
“Our responsibility is to ensure that customers are not left carrying the consequences of uncertainty created within a system they rely on.”
He added that the objective goes beyond processing transactions quickly to ensuring that system failures do not unnecessarily become a customer-facing problem.
Real-time monitoring helps manage transaction routing
A key component of the company’s card payment infrastructure continuously monitors the performance of individual issuing banks across different processors.
The system tracks indicators such as transaction success rates and response times in real time. When a destination reaches a predetermined threshold, transactions can automatically be stopped from being routed there.
The approach is designed to reduce prolonged transaction delays and prevent requests from accumulating when a particular destination is experiencing problems.
Source: Facebook
Focus shifts to resilience and observability
The wider discussions at the engineering mixer also highlighted observability and security as important elements of operating financial infrastructure.
Participants examined how monitoring system behaviour can help engineering teams identify emerging problems, understand failures and respond before they affect larger parts of a system.
The event was organised as an informal forum for engineering practitioners to discuss the decisions, trade-offs and failures that are often difficult to address through conventional technical presentations.
Source: Legit.ng
