GraphQL in Wealth Management Platforms: Optimizing Data Access and Performance

Abstract

In regulated financial systems, such as wealth management platforms, it is necessary to have both a secure, compliant environment, as well as to provide users with real time portfolio analytics, and customizable dashboards. However, many traditional RESTful based API's require multiple round trips and pull down all the information requested from the server even if only some of it is needed; thus, resulting in significant delays when the system is at high volume usage levels. GraphQL allows for a single endpoint query model that is declarative in nature, where clients can ask for only what is needed. Previous studies have demonstrated how this model can significantly decrease the amount of data being transferred across the network and the number of network requests made when retrieving nested data [1]. The study reviews existing literature on empirical and theoretical studies that evaluate whether GraphQL is suitable for use in regulated financial environments. Included within this study’s evaluation are benchmarks, cost analysis research, and best practices for performance optimization, and security. Additionally, this study discusses how Federated GraphQL architecture can be used to create modular microservice architecture, as well as hybrid REST/GraphQL architecture. This study suggests that, for complex aggregation queries, GraphQL can reduce latency and backend requests by approximately one-half or more, improve developer productivity when governed properly, but must be weighed against the increased CPU usage seen in GraphQL resolvers when not optimized properly, and the need to implement proper security and compliance measures [2].