EngineeringBeat: Transforming with mainframe modernization
Key insights for the investment and wealth management sector
Investment and wealth management (I&WM) faces a growing litany of challenges including more stringent regulatory demands, an “always-on” trading environment, and evolving customer expectations for a faster and more personalized service. Overcoming these obstacles has made digital transformation a strategic imperative, but mainframe systems can struggle with advanced technology.
Modernize to stay competitive in a dynamic market
Investment and wealth management firms face a critical imperative to modernize their mainframe systems to compete in a dynamic market. Mainframe modernization can enable access to advanced capabilities such as artificial intelligence, cloud, and big-data analytics—which can drive the innovation that powers improved operational efficiency, accelerates time to market, enables more tailored customer experiences, and unlocks new revenue streams.
Mainframe modernization in action
A global financial organization faced rising costs and slow product launches from its legacy mainframe systems. Deloitte helped the organization rearchitect its applications, optimize its platforms, and migrate 20 million lines of code to achieve 100% functional equivalence. The modernization effort reduced batch jobs by 60%, increased availability to 99.99%, and cut time to market—driving 25% more deployments. Cloud now also supports 25% of the firm’s trading volume.
Modernize to adapt and innovate
Modernization isn’t optional; it’s imperative to stay competitive in a dynamic, volatile market. By migrating legacy systems to modern, scalable cloud-based solutions, I&WM firms can boost innovation to improve customer experiences, get products to market faster, and develop new revenue streams—seizing the growth opportunities that come with them. So, in order to adapt and innovate—and future-proof your business—the time to modernize is now.
Contributors
Ashutosh Rai, Deloitte innoWake GmbH; Harshad Deshpande, Deloitte Consulting India Private Limited
