RegTek.Solutions – Redesigning on AWS to Offer SaaS

by risk-focus | Aug 1, 2019


RegTek.Solutions (a Bloomberg company) is one of the premier software providers in the Regulatory Reporting space, serving 15 of the 20 largest global banks as customers. Their software was developed to run inside a data center, but customer demand required them to provide a SaaS offering in addition to an option running in customers’ own data centers. Leveraging the flexibility of AWS, Risk Focus quickly adapted the platform to run in the cloud and introduced new automation while decreasing time-to-market and reducing time to onboard new customers.

“Due to business developments, we needed to evacuate our data center very quickly. Risk Focus helped us make this move while re-engineering our development and deployment processes. This allowed us to become more agile and increase delivery velocity. Moreover, they helped us deliver our first SaaS offering and onboard our first clients to the new platform. Risk Focus’s key differentiator is their unique combination of deep Financial Services domain knowledge coupled with technical expertise and delivery excellence,” Brian Lynch, CEO, RegTek.Solutions (a Bloomberg company)

Problem Statement

The RegTek software was originally developed to be tested and run inside a data center as binary artifacts, with VMs running on a small set of Hyper-V racks in the client’s own data centers. After initial launch, many of them asked for a SaaS solution, and so RegTek needed to move the platform to the cloud while maintaining the ability for it to run locally within a data center.

RegTek enlisted Risk Focus to help:

  • Create a fully automated CI/CD pipeline outside of its data center that would allow it to provision environments on demand, build the binary artifacts, and run large-scale testing on its suite of products
  • Develop a process to produce different deployable binary artifacts, both traditional wars and Docker containers
  • Create a secure automated SaaS offering for current and prospective customers
  • Onboard its first batch of clients onto the newly built SaaS platform

AWS-Based Solution

We proposed that RegTek move to AWS, but because its software needed to retain the ability to run in any data center, we ensured that the software was cloud portable and not tightly bound to the AWS cloud native offerings. The elasticity provided by AWS allowed RegTek to develop and test much faster by provisioning and tearing down environments in an automated way. We then deployed some of the RegTek products as SaaS offerings into separate AWS accounts under an Organization, leveraging Consolidated Billing.

The solution involved provisioning single-tenant VPCs with Oracle instances for each client, which were created by using CloudFormation templates. Because of the sensitivity of the data being reported, all SaaS clients had requested complete isolation from one another. In the new design, CloudWatch was implemented to capture all logs, and CloudTrail to monitor access to all deployed resources. Resiliency was achieved by relying on ELB, Multi-AZ deployments, and Auto-scaling groups.

Financial Services Domain Expertise

The project consisted of three components: developing CI/CD pipelines, re-designing the architecture to offer SaaS, and onboarding customers onto the new SaaS platform. Risk Focus’s keen domain knowledge of trading risk and regulatory compliance was especially useful in the last piece.

RegTek.Solutions enlisted Risk Focus to do all initial customer onboarding, where our Business Analysts identified clients’ required feeds and designed their delivery processes. Risk Focus also used its deep domain expertise to map required data and enrichment to ensure that the raw trading feeds delivered by the client could be submitted to the SDR (Swaps Data Repository) of the DTCC.

More Options, Better Customer Service

RegTek.Solutions now operates a highly successful business that features both installations within customers’ data centers and a robust SaaS reporting solution hosted on AWS. This allows RegTek to provide a higher value of service to their clients. It also allows their clients to focus on growing their Financial Services businesses, while staying compliant and avoiding the hefty fines levied on businesses that do not provide accurate and timely reporting.