The document discusses BankNext's transition from a traditional microservices orchestration architecture to an event-driven choreography architecture. The traditional architecture introduced undesirable latency when invoking multiple services sequentially. The new event-driven architecture addresses this by having services publish events to Kafka topics when business events occur, allowing other services to asynchronously consume events and take action. While this improves flexibility and performance, it significantly increases architectural complexity and requires robust messaging, observability, and transaction management to maintain system reliability.