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Customer story

European Fintech Phenom Flexes its Financial Muscles through Digital Transformation and Expansion

BUX harnesses the power of data through the cloud ensuring seamless interaction; continues European expansion with record times

Related services
Data Technology

Industry
Retail

Company
Binx.io

Amsterdam-based fintech startup and neobroker BUX specializes in making trading and investing available for everyone. Started in 2014, BUX offers a wide range of trading and investing options including stocks, commodities, CFDs, and crypto. BUX was founded by Dutch native Nick Bortot. Their aim was to democratize investing. It is currently Europe’s fastest-growing investment app and is available in 10 countries including Spain, Ireland, the Netherlands, Germany, and Austria. Plans for expansion across Europe are on the way. Over 500,000 people have downloaded one of BUX’s trio of apps which include BUX Zero, BUX Crypto, and BUX X.

Why
Update old legacy systems for a cloud-first approach
What
Build a new data infrastructure
How
Create and optimize a network for transferring and processing data

Disrupting the Norm: Cloud-Based Data

Updating BUX’s data warehouse to comply with AFM standards demanded expertise. For one, BUX’s in-house legacy systems were not in line with its cloud-first standard of operating. Secondly, updating the near-obsolete infrastructure would be costly. The companyneeded a cloud-based option that would suit its needs for growth, scalability, and security. BUXfound Google’s core values of freedom and open-source aligned neatly with itsown goal of breaking down financial barriers. Google’s Cloud would provide BUX’s data platform. Xebia’s cloud experts were brought in to implement these changes so BUX could run more effectively and seamlessly. Xebia’s knowledge allowed BUX to hit the ground running.

Strategic Consolidation of IT Infrastructure

Building a solid cloud-based data infrastructure was what would give BUX the edge it needed in the highly competitive fintech market. BUX hired two of Xebia’s engineering specialists to accomplish this task. Xebia’s expert consultants overhauled BUX’s data architecture, bringing it to the cloud. The consultants started the process by brainstorming and then conducted an overall cost-benefit analysis of what BUX needed to succeed and scale. Their plan of action focused on finding a cloud server fitting BUX’s needs and then implementing this into BUX’s current architecture and workflow.

“For our new data stack, it was important to start with a solid basic infrastructure. Xebia helped us really well and advised us on setting everything up. Their specialist knowledge of Google Cloud has been extremely valuable to us.”
Derek Willemsen Head of Business Intelligence

Meeting Market Demands

BUX’s platform relies on real-time secured data, but with an outdated legacy system, it needed to transform its data architecture and take it to the cloud. Xebia provided the guidance and know-how to succeed. Transferring data from different sources required the development of a state-of-the-art network and then running applications through containers to ensure low-cost and high efficiency. The modular deployment of raw data through Airflow meant scalability allowing for lean data transfer, storage, and analysis. Three data pipeline clusters were created for testing and production. Knowledge becomes readily available so engineers can work to reach their targets and assess necessary changes. Data infrastructure improved as did performance and workflow with data stored in the cloud.

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