SaaS Enabled Financial Compliance Platform

About Marco Polo

Marco Polo Securities (MPS) Inc. is a FINRA member broker dealer and a wholly-owned subsidiary of Magellan Global Inc, a holding company which also owns Pi Capital International LLC.

Marco Polo Securities Inc. acts as a “chaperone” FINRA member firm that conducts appropriate due diligence on the documents maintained by Foreign Financial Institutions (FFI), introduces new clients to FFI and supervises FFIs communications with major institutional investors located in the USA.

The Challenge

Marco Polo Securities Inc. intended to enable Foreign Financial Institutions (FFI) to discuss securities, provide research reports, solicit and effect transactions with or for U.S. institutional investors by providing a web based, SaaS platform. This platform should help enroll the FFI as a chaperoned firm, allow them to market their product & services and maintain books & records to the standards required by US regulation.

The solution should ensure quick onboarding of clients, secure document upload; required review and audit procedure adherence to reduce their compliance risk. Data and storage separation is key for each client to protect their data integrity and confidentiality.

MPS also needed a clean, modular application with rich interface developed within aggressive timelines to shorten their time to market and minimize the operational cost.

CT Solution

CT overcame the challenge by architecting a mulit-tenant SaaS platform with primary focus on immediate and long term isolation needs. Client profile on-boarding and management were prioritized with provision for custom documents review and audit workflows with configurable rules to meet the evolving procedural and regulatory needs.

AWS was chosen as the could platform for its bouquet of cutting edge, scalable, elastic, secure, cost effective services.

N-Tier architecture with pool portioning in Web, app and data access layers and data separation thru multi-tenant tables, partitioned by tenants. Tenant context was injected in each layer to prevent cross tenant access.

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  • Angular and Node.js – Angular is used to develop the front-end and Node.js for the server-side part of the MPS application. Express.js, a minimalistic web application framework is used for Node.js
  • Docker container – The front-end and the server side are packaged as container images. Docker container image is a lightweight, standalone, executable package of software
  • AWS ECS with Fargate – The docket container were orchestrated using Fargate, with load balancing achieved thru ELB and ECS auto scale for scalability during peak loads
  • AWS Aurora – Highly scalable, available and durable MySQL-compatible relational database with Amazon Aurora. Scalability is achived thru RDS auto scaling and data seperation is achieved by using multi tenant tables and partitioning them by tenant
  • Nginx – Nginx is a high concurrency, high performance with advanced event-based mechanisms to handle hundred thousands of concurrent operations. Using Nginx as the reverse proxy in front of Node.js servers can greatly enhance the performance of the application. The Nginx server will the Node.js front-end server bundled in Docker container in AWS ECS environment. The Nginx serves static content and acts as a reverse proxy, passing on the requests from the ELB to Node.js
  • AWS S3 – Simple Storage service as document repository with separation achieved by creation of separate buckets for each tenant and configured to CloudFront to high speed and low latency content delivery
  • AWS Cognito – As an Identity broker for RBAC to application features with custom database as idP.

Benefits

Organized document storage: Using the MPS portal, the Foreign Financial Institutions (FFIs) are now onboard in an accelerated pace with their enrollment information, documents and agreements stored in an secure fashion

Robust compliance and monitoring: MPS team is able to carefully monitor activities of the chaperone client post onboarding and assists them in staying compliant as per SEC regulations

Accurate reporting and management: The chaperoned firm (Foreign Financial Institution) is able to swiftly book, manage and secure reports on roadshows, meetings, trades, calls and conferences

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Key outcomes
  • Entice new customers
  • Streamlined onboarding platform
  • Maintain document compliance
  • Secure isolated document repository and data storage for each client
Products/Services used
  • Amazon ECS
  • AWS Fargate
  • Amazon RDS Aurora
  • Amazon S3
  • AWS CloudWatch
  • AWS CodePipeline
  • AWS CodeDeploy
  • AWS SES
  • AWS IAM
  • AWS Cognito
  • Kibana
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