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Journey to Microservices

Several factors are driving banks to redesign their large monolithic legacy applications into a leaner microservices based architecture to allow for more frequent application updates. These include the need to experiment/innovate quickly without affecting the core business functionalities, adapt to changing consumer demand for richer omni-channel experiences, compliance and regulatory changes, etc.

Additionally, with microservice-based architectures, application functions are distributed so that they can scale independently of one another, leading to better performance, business resiliency and ability to roll out changes more rapidly.

However, the road to microservices adoption does include challenges, such as:

  • Risk of rebuilding crucial legacy processes and applications
  • Applying the right best practices to design and build microservices
  • Understanding how to decouple monolithic applications
  • Integrating modern microservices-based applications with existing legacy
  • Governance of complex microservice architectures

As an expert in digital and cloud transformation, Virtusa works with banks to help them overcome the challenges of microservices adoption and re-architect their applications so that they achieve increased developer productivity, better application performance, and an optimized end user experience.

Key Benefits
API/Microservices offering benefits

Our API/Microservices offering helps banks to navigate from business case creation through implementation and deployment. 

Virtusa is a partner that can help you adopt microservices architecture so that you benefit from:

  • Reduced downtime and better fault tolerance, increasing resiliency by 30%
  • 40% faster development cycles and improved time to market
  • Polyglot approach to develop different components of the same applications simultaneously
  • Autonomy of independent cross-functional development teams
  • Accelerated feature development through domain-driven design and smarter code organization
  • Reduced vendor lock-in
  • Flexible and extensible applications that support evolution of architecture

Capabilities

Our microservices offering includes a depth of capabilities:

FinTech API Marketplace

Leverage our experience in creating the Virtusa FinTech API Marketplace and developer sandbox

Application Integration

2100+ strong integration services team with deep experience in microservices, API and integration transformation programs

API-fication and Microservices

Leverage emerging architecture, platforms and ecosystem for application modernization and web-scale development

API Partnership Advisory

We scan and curate public and private APIs that banks can easily tap into by combining with internal APIs

Business Consulting

Identify business objectives and calculate expected business impact through an assesment and roadmap approach that takes into consideration budgets, timelines, people, and process

API Standardization

Provide integration services based on standards and provide reusable and flexible services to lower costs and improve business agility with API lifecycle management

OpenBank API Accelerator

Partnership with FinTechs and digital players to jumpstart your API journey. Integrate and aggregate multiple functional and technical elements of the banking API implementation

API Security

State-of-the-art services to manage authentication, authorization and data encryption across channel, domain, and business APIs

Success story

Virtusa helps one of the largest American insurers adopt microservices architecture and re-imagine customer experience

Virtusa’s client had a monolithic application architecture that prevented it from building commons services across applications, which caused significant delays in delivering new features across customer touchpoints such as customer self-service and working with customer representatives and agents. Virtusa developed a robust microservices architecture that consisted of loosely coupled, small, autonomous services that could be deployed independently. By implementing this architecture, Virtusa helped the client drive agility in digital transformation. Benefits include:

  • Faster time to market – Time to develop integrations reduced by 50%

  • Improved quality – 50-60% reduction in reported defects

  • Easy-to-build platform – Developer onboarding time reduced by 50%

  • Increased business scalability – For example, OPP requests that used to take hours to calculate now processed within seconds

Find out what Virtusa can do for you

Contact us to speak to an expert, request an assessment, or demo our solutions.

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