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Core Modernization

Infrastructure that meets the future needs of banking 

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Changing regulations and growing customer expectations require banks and financial services institutions to have agile applications and infrastructure. If you're operating with complex, inflexible, and expensive to maintain legacy application stacks, you won't be able to keep up with the changing business mandates. The push towards instant/near real-time and faster processing has led banks and financial institutions to take a harder look at their end-to-end (E2E) application ecosystem, business agility, customer user journey, processing SLAs, and technology expectations.

What if you could modernize your application ecosystem to become highly scalable, resilient, efficient, and future-proof?

Virtusa's Core Modernization services help banks and financial institutions transform legacy technology and applications into a modern ecosystem. We not only define, execute, and validate your solution but can assist you with the decision to build, buy, or collaborate with FinTech and high-tech companies.

 

Key benefits

Operating on legacy systems is a thing of the past. Working with Virtusa for core modernization ensures your bank is ready for the dynamic business environment. Our clients benefit from:

  • Time tested, future-proof, and scalable core architecture developed based on evidence from many client engagements
  • Accelerated product innovation, agility, and faster time to market
  • Plug and play architecture that enables ideation, prototyping, and collaboration with the FinTech, high-tech, and partner ecosystem.
  • Reduced cost of change, run, and maintenance of applications by using industry certified accelerators and tools kits 
  • Improved system of record (SOR) and databases to speed up response time and enhance the customer experience
Core Banking Modernization Solutions - Key benefits

Key features

We developed our core modernization offering with the end-to-end application ecosystem in mind.                                                                        Features of core modernization include:

Technology strategy and design

  • Enhanced business strategy based on technology strategy expertise
  • Current state assessment to assist with the decision to build, buy, or collaborate

 

Accelerating the Micro/API implementation

  • Framework assisted solution templates (FAST) automate and templatize microservices generation
  • Open Innovation Platform (OIP) enables rapid collaboration and onboarding with the FinTech and high-tech ecosystem

 

Business design and technical architecture blueprints

  • Business capability modeling (BCM) to help achieve your business vision
  • Technical architecture blueprints starter kit
  • BIAN aligned architecture blueprints and models

Data strategy and technology roadmap

  • Blueprints to seamlessly support both the old and new core
  • AI Model Zoo with pre-built AI models and algorithms accelerates the creation and launch of new ML models                                                                                                                          
Why Virtusa?

Virtusa approaches core modernization differently. We’ve worked with banks of all sizes to evaluate, redesign, build, and modernize their core to implement highly scalable and resilient applications.

Our unique domain and engineering expertise combined with industry-specific accelerators and frameworks enable banks to achieve measurable business results faster. With our proven expertise, we provide:

  • Focus: BCM ensures alignment with your business strategy and vision
  • Experience: Proven architecture synthesized into blueprints and starter kits   
  • Acceleration: Reusable assets and platforms speed up implementation
Core Banking Modernization Solutions

A global investment bank and financial services company reduces overall costs by 20%

Leveraging the latest cloud-native and microservices architecture with zero downtime during deployment, we increased system availability and time to market by 30% and improved customer experience by 20%. 

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Find out what Virtusa can do for you

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