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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.
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