Infrastructure Modernization
Mainframes too costly to replace and on-prem database systems without scalability are just two areas making up legacy technical debt that holds you back from the cloud. But Techolution has developed proprietary processes we call “modernizing in place” to help you integrate those existing mainframes with cloud-based systems.
Our team brings deep experience in supporting database configuration to cloud-based modernization. Your goal is always to maximize the speed of transactions across mainframes and database access while increasing your long-term scalability. We have proven methodologies to do that efficiently, cost effectively, and incrementally on your timetable and budget.
Application Transformation
Your bank’s applications likely predate your time with the enterprise, and because they grew over time without a distinct plan to keep pace with evolving technology and DevOps processes, they’ve become monolithic.
Once again, there are methodologies that can enable you to modernize these applications in a way that provides the benefits of modern CI/CD pipelines for faster commits, decoupling of applications for autonomous development team updates, and much more. You can do this on your own schedule, so you can get all these benefits today in one form. You can also plan for ultimate application flexibility and modernization through broad containerization and microservices adoption when you’re ready.
Essentially, you can gain a great deal of control with the monolithic app today for easily and efficiently adding new functionalities and increasing transactions and update schedules. You can simultaneously plan for (or take the safe plunge today) for the big bang modernization of breaking up monolithic apps and deploying containerization and microservices broadly. The beauty is that both can take far less time and costs than they have led you to believe with the right modernization partner.
Process Transformation
As we’ve already discussed, your bank’s ability to compete in the digital era of Fintech requires you to speed up and innovate with back-end and front-end (customer facing) processes. Many back-end processes have silos between them and silos making it difficult to reduce friction in front-end or customer-facing processes. It all comes down to each process’s ability to provide customers with faster, more intuitive, and innovative processes that make their banking transactions easier.
Resource Transformation
It’s important to keep in mind infrastructure transformation and application transformation will change processes on the back end for IT personnel (and banking personnel to a lesser degree). This level of process transformation requires a collaborative partnership to ensure IT personnel understand the new methodologies and how system and cloud architecture come together in novel ways.
You should start by providing the educational support from the planning stages through to ongoing usage support after implementation. You’re working with a limited budget, so one thing holding you back with digital transformation is IT personnel skills training. Your team needs the updated skills in cloud architecture and infrastructure modernization integration, which takes time and money.
The Techolution team is a full digital transformation company because we bring the needed personnel dedicated to sharing and collaborating on the knowledge. This ensures your current IT team ends up with the advanced skills to keep the innovation going. The same goes for supporting your financial institution’s departmental teams with the knowledge of new processes. This is tied to making sure the services customers demand are intuitive and simple.
Summary
As you read this blog, it’s apparent to you that these processes and proven technology methodologies connect. You also understand your banking institution needs holistic solutions. They must work across on-prem infrastructure with its legacy systems, monolithic applications, and a developing cloud environment meant to make the most of what you have. You will need a transformation partner that can:
- Reduce Technical debt without costly rip and replace
- Focus on only those applications for migration that bring the biggest ROI
- Enable faster speed to market for application changes, innovation, and development
- Bring these benefits to monolithic applications through limited or full-scale containerization and microservices architecture
- Increase transaction speed and scalability
- Greatly improve customer experience for customer growth and longevity through frictionless services
- Provide the needed architecture modernization, cloud expertise, Devops and CI/CD pipeline knowledge through ongoing education for your IT team
Doing these things cost effectively, efficiently, and quickly (often in 30 days or less) may seem like a tall order, but the Techolution team has been perfecting and proving our methodologies with some of the biggest and most influential banks across the globe.
To see how we can partner with you to make digital transformation happen, download our eBook below.