Dated Legacy Systems Can Be the Nemesis for Traditional Banks. Transforming People and Legacy Systems Remain the Key Pain Points for Banks
Clients have an increasing appetite for new financial product, services coupled with new experiences. This necessitates financial institutions to change and innovate fast. The quick pace of change requires means you need to integrate innovations into highly complex core systems.
To obscure the scenario, regulations are ever changing. Hence balancing innovation with adhering to regulation is ever a challenge. This is where expertise needs to be blended with experience.
Our approach to system integration combines consulting with domain expertise. Our value proposition includes agile technology delivery services coupled with end-to-end support for the software and systems. Add to this re-usable components for banking, ready connectors for multiple core banking products, and pre-built frameworks for various use cases in banking. Our goal is platform harmony and modernization, empowering financial institutions to offer customers and regulators what they demand.
Through optimising and transforming legacy systems, we have increased efficiency by over 25% for multiple financial bureaus in the Nordics. For another bunch of clients we enabled a 33% decrease in batch processing time through performance optimisation of large databases.
Functional and Technical Audit
Based on our Alvarium methodology, we assess the need for transformation of various systems for our clients, including Digital Banking, Mobile Banking, Online Banking, Core Banking Systems and any other systems including custom built or legacy systems from functional, customer experience, technology, cost and strategy perspective.
3rd Party Digital Products
Our services include assessing the fitment of 3rd party digital products to suit your needs. Providing a complete report with vendor and competitor analysis. Integrating the 3rd party products to your system. Managing the 3rd party products from a run perspective
APIs & Services
We help assess your needs clearly and create an API and Services layer that is easy to manage whilst we work with all 3rd party API management solutions. Our platform Papilio provides a great Backend IDE to help integrate with APIs & Services.
Internal & External Systems
In a complex banking environment there is bound to be a deep coupling of internal and external systems including cloud based systems. We help you assess and align your systems and manage them seamlessly.
Integrated Program Management & Vendor collaboration
We combine our advanced functional understanding with expertise in transformation program management with a keen focus on quality and timely delivery. Our services also include collaborating and coordinating with vendors, program and project management, testing and release management.
Application Optimisation, Infrastructure Support and Managed Services
We help you manage your business-critical systems and applications to enable seamless and uninterrupted operations. By optimizing and integrating your operations, reducing costs, whilst focusing on your core objectives and driving business growth.
Our full-service includes a functional and technical audit to get a better understanding of the need for renewal of your existing stack, followed by mining existing business rules from software applications, culling it out in understandable language for forward engineering, enhancing your applications’ functionality, and making them easier to maintain and part of a highly-scalable framework.