1. Prerequisites: 2. Initialize a New Project: Using Spring Initializr: Using Spring Boot CLI (alternative method): 3. Importing Project in IDE: Open your preferred IDE and import the project as a Maven or Gradle project. 4. Project Structure: Your project will have a default structure. The main parts are: 5. Creating a Simple REST Endpoint: Navigate to src/main/java and locate […]
Introduction React is a JavaScript library for building user interfaces. This tutorial will walk you through setting up a new React project, creating components, and using state. Prerequisites Step 1: Setting up a New React Project Create a new project using Create React App (CRA): Navigate to your project Start your development server After running the above command, your default […]
When developing web-based applications, a key decision is choosing the right architectural style for your web services. The two most common approaches are SOAP web services and RESTful web services. This article will compare the pros and cons of each to help guide your API design. What is SOAP? SOAP stands for Simple Object Access Protocol. It is a standards-based […]
A Payment Credit Alert (PCA) is a notification that is sent to a counterparty when their credit exposure to another party exceeds a certain threshold. The threshold is typically set by the counterparty’s risk management team, and it is based on a number of factors, including the counterparty’s financial health, the size of the transaction, and the terms of the […]
Counterparty credit risk is the core concern that one party in a financial contract will default. Let’s explore some common terminology used in counterparty credit risk technology and management. Key Terms Explained Counterparty Credit Risk – The risk that a counterparty defaults on obligations in a financial transaction before settlement. This results in potential losses. Margin – A deposit one […]
In the intricate ecosystem of financial markets, the Over-the-Counter (OTC) derivatives market holds a position of significance. Unlike the traditional stock exchanges where trades occur in a centralized, open forum, the OTC derivatives market operates more discreetly, often puzzling those unfamiliar with its nuances. In this blog, we will unwrap the layers of the OTC derivatives market, shedding light on […]
Derivatives are common but often misunderstood tools used in finance. This post explains what derivatives are, how they are valued, and how traders buy and sell them. What are Derivatives? A derivative is a financial instrument whose value depends on (or ‘derives’ from) the value of an underlying asset or set of assets. These underlying assets can be stocks, bonds, […]
Counterparty credit risk (CCR) is a major concern in finance. CCR is the risk that a counterparty in a financial contract won’t meet obligations. Technology is transforming how institutions manage this risk. This post looks at key innovations improving CCR management. What is Counterparty Credit Risk? Before delving into the technology behind it, it’s crucial to understand what CCR is. […]
As a Java developer, understanding and applying essential software development principles is crucial to creating high-quality software. These principles, including SOLID and DRY, provide guidelines for crafting efficient, maintainable, and scalable solutions, setting a strong foundation for successful software development projects. In this blog post, we’ll provide a high-level introduction to these principles and their importance in Java development. SOLID […]
While working at a medium-sized bank in Ireland, I discovered the UK’s Open Banking Initiative and began searching for opportunities in the UK to explore this intriguing technology and concept. Eventually, I joined a large commercial bank with its headquarters in the UK and a global presence. One feature of Open Banking that I found particularly exciting is the ability […]
I have been working in the Financial Services Industry for quite some time now, and I am still learning every single day about the various things that banks can do and are doing. One of the most fascinating subjects related to Retail Banking Technology, is Fractional Reserve Banking, and in this article, I am going to share with you what […]
After a short time working on Biometrics Authentication, I felt I had learned everything I needed to know about the technology, so I decided it was time to move on and join the Financial Services Industry. While Retail Banking Technology may not be as exciting as Biometrics or Location Intelligence, it proved to be a very rewarding experience, as I […]
One of the most intriguing projects I worked on as a Software Engineering Consultant was for a major Irish bank back in 2014, when mobile technology and applications were just beginning to make a significant impact. I collaborated with some of the most skilled frontend developers and analysts to develop a Mobile Account Onboarding system, which was perhaps one of […]
An Integrated Development Environment (IDE) is an essential tool for software engineers, as it streamlines the development process and boosts productivity. With a plethora of IDEs available, it can be challenging for new software engineers to choose the right one. In this blog post, we will explore the top five IDEs that are highly recommended for new software engineers, making […]
As a project manager, you are responsible for ensuring that your team stays organized, focused, and on track towards achieving project goals. One key tool that can help you achieve this is the RACI matrix. The RACI matrix is a project management tool used to define and clarify roles and responsibilities within a project team. The acronym RACI stands for […]