Investment Banking Services Firm

Monolithic Legacy Platform Transformation

Legacy to Modern Accounting Engine Modernization

Situation

An American corporate investment banking services holding company — and one of the world’s largest asset managers — was burdened with a slowdown in the business due to legacy systems. With their monolithic applications, numerous limitations emerged. As a result, the client:

Could not handle interdependencies
Faced problems during onboarding, development, and deployment
Experienced slow time to market, which made them fall behind their competitors

Impact

Due to the monolithic platform, the client was facing many challenges:

If the client needed to check for a minor change or issue in the monolithic framework, the entire system had to be tested
Given the slow time-to-market issue, there was a risk of customers exploring competitors for alternative options
The pressure placed on the interconnected functional components increased the chance of failure

Resolution

We stepped in to help improve software quality and reduce maintenance costs.

Knowing the client’s business could not afford any disruption to its day-to-day operations, we incrementally modernized their legacy accounting engine
We constructed the solution with independently testable functional components

Outcomes

For this American investment bank, we incrementally modernized the legacy accounting engine, preventing any possible critical disruption of the customer’s business. This enabled our client to:

Experience improved software quality and reduced maintenance costs
Increase software portability and enhance security and compliance
Ensure a consistent testing environment through behavior-driven development
Experience minimal interruptions and reduced risk through incremental modernization
Experience reduced hassle in testing new functionalities
Accelerate the launch of new features to market
Decrease quality assurance costs
Reduce development costs