Success Stories

Virtusa / Rationalized the Number of Core Banking Instances by Over 89% for a Leading Bank
Rationalized the Number of Core Banking Instances by Over 89% for a Leading Bank
  • The Challenge

    Our client, one of the largest global banks in the world, had over 60 instances of its core banking software that was leading to increasing complexity and significantly higher costs. They wanted to simplify the core banking landscape by clustering and componentizing applications to improve time-to-market while at the same time leverage APIs for enabling a consistent user experience. Our deep domain expertise and digital engineering capabilities are why our client partnered with us to get the job done.

  • The Solution

    • Created seven clusters of nations and eliminated over 75,000 changes to the core banking instances
    • Carved out programs such as charges, fees, payments, and reporting that could be harmonized across the stack of core banking applications and offered as a horizontal service
    • Created 200+ system APIs that helped provide consistent data to upstream applications and interfaces resulting in improved customer experiences and an accelerated journey toward digital transformation
    • Optimized the number of batches and the run duration
  • The Benefits

    • 50% reduction in batch processing time
    • System APIs reduced the number of point-to-point interfaces by 75%
    • Rationalized the number of core banking instances by over 89%