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How We Applied Legacy Modernization Application Solutions to Automate Workflow For A Financial Service Provider

A Brief Glimpse Into Our Client

Our client is a US-based traditional financial service provider. They’ve been active in the industry for 30+ years, and operate across 100 countries. From offering insurance to lending money to clients, the service provider is at the forefront of all kinds of financial services.

As part of Brainium’s objective to automate workflow, we opted to modernize the existing technology stacks and reduce our client’s reliance on legacy applications.

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Challenge

Our client’s operations increased by almost 200% within the past decade. However, the continued reliance on legacy systems posed severe challenges. For starters, the processing time for client requests was double the industry average. Additionally, we noted that the current security measures were not up to the newer regulatory standards.

Solution

Our consultants conducted a detailed audit of the client’s existing legacy systems. Based on the results, we adopted a hybrid approach that included the introduction of cloud integration, microservices architecture, and an API layer.

Results

Within six months of implementing the legacy application modernization, our client reported a 30% reduction in IT maintenance costs. Their vulnerability to security threats also decreased to a negligible percentage thanks to the updated security features in place.

Industry

Others

Tech Stack

Cloud, DevOps, APIs

Country

USA

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Our Primary Objectives for This Project

Design Modernized Architecture

Our assessment of the existing legacy systems revealed that the hybrid model would suit our client the best. That’s why our plan was to migrate the essential applications and data to a cloud environment, transform the legacy monolithic applications into microservices, and introduce an API layer.

Introduce Technology Upgrades

The plan was to migrate old databases to either PostgreSQL or MongoDB and rebuild the user interfaces using Angular. After consultation with our team, our client wanted our developers to implement RPA tools to streamline the routine tasks.

Implement The Migration

We had plans in place to ensure that the migration didn’t affect the continuity of business for our client. By migrating the legacy systems in batches, we could focus on maintaining data integrity and consistency across the platforms.

Add Security Enhancements

Our client’s existing systems posed a high security risk. That’s why our security enhancements plan included the introduction of end-to-end encryption and multi-factor authentication.

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The Challenges We Faced Along the Way

Migrating The Data Securely

Transferring data from outdated storage formats always runs the risk of losing crucial data permanently. To address this issue, our team kept taking backups of the data continuously. Moreover, we took the help of quality data migration tools for the leap.

Replacing Individual Components

Upgrading certain individual components posed quite a problem since the legacy system was interconnected with other systems. However, this wasn’t our developers’ first rodeo with such a task. Using their skills, they were able to upgrade each component successfully.

Providing Cost-Effective Solutions

Our client had a simple demand - to optimize their legacy systems within their budget. Since replacing the old system entirely would have tripled the budget, our team came up with a cost-effective solution that would not only meet the client’s demands but also be within their budget.

Preventing Security Breaches

Legacy systems and tight security don’t go hand in hand.That’s why one of the first things that our team did was compartmentalize the data flow. We made sure to use IDS to monitor the network continuously for suspicious activity.

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Reducing Operational Inefficiencies Through Innovative Digital Solutions

After taking into consideration the growth in business operations that our client has been witnessing the past decade, our team came up with a game plan to upgrade the legacy systems. We focused on particular areas like security, client management, compliance tracking and accounting.

The first step was to conduct a detailed audit. We were quickly able to identify our client’s pain points, namely the prolonged processing times, high maintenance costs, security issues, and limited scalability. Keeping these in mind, our solutions were simple.

We identified which legacy systems needed to be phased out.
We designed a modernized architecture that guaranteed increased scalability.
We upgraded the database and overhauled the user interface.
We carried out the migration in phases to ensure business continuity.
We added modern security protocols in compliance with industry standards.

The Results of Our Tailored Legacy Application Modernization Strategy

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40%

Reduction in Client Processing Time

30%

Reduction in IT Maintenance Costs

80%

Increase in New Clients

120%

Increase in Client Response Time

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Fulfilling Client Needs One Step At A Time

The combined efforts of our team members led to the successful transformation of our client’s business operations. Thanks to modernizing the legacy systems, the client reported zero lags or issues related to response and processing times. By partnering with Brainium, our client was able to stay ahead of the competition and gain the agility, security, and scalability needed to thrive.

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Our Client Positive Feedback Means The World To Us

We’re always striving to deliver the best IT solutions as per our client needs. Every successful venture gives us the motivation to offer unmatched quality. Perhaps that’s why our client has such high praises to shower on us.

Brainium’s team did a wonderful job on revamping our legacy systems. Adding new clients has become smoother and the real-time analytics reports are a great touch. Thanks to the team that worked tirelessly for months, we’ve been able to improve our operations and cut unnecessary costs.