Financial services organizations were among the earliest, and heaviest, users of information technology. As increased competition requires them to reduce costs and deploy new applications more quickly, they can find it challenging to transform their legacy applications and platforms to lower cost, more nimble cloud-based development and deployment models.
To beat increased competition, financial services organizations need to transform their legacy applications and platforms to both lower costs and be more agile. Recognizing these challenges, a major European bank approached Cognizant to move a critical legacy application to a cloud-native architecture.
We trained transformation champions selected from the bank’s team on the trends in cloud adoption and helped them compare technology options and identify use cases. Cognizant’s own Pivotal Cloud Foundry (PCF) experts analyzed the bank’s business to identify its short-term and long-term requirements. Our team then worked closely with Pivotal to prepare a proof of concept to refactor the bank’s application and integrate its legacy technologies into a cloud-native architecture to make it easier and quicker to roll out new features while reducing the complexity and cost of maintaining and enhancing the application.
Cognizant’s capital markets digital solutions team helped the bank integrate a new, internally created development platform with PCF, leveraging its greater simplicity and agility while preserving the bank’s investment in the new platform. We also encouraged the bank to move to a full microservices architecture—which is more challenging, but provides a far simpler, more agile and cost-effective approach in the long run compared to containerization.
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