Legacy System Migration and Modernization for Financial Services Provider

The client operates on a legacy platform that struggles to scale with increasing customer demand, making it difficult to incorporate new features and personalizations. The antiquated system results in higher support costs, increased risk, and limited agility to adapt to changing market needs, jeopardizing competitive advantage and operational efficiency.

A mid-sized online consumer lending company seeking to upgrade its outdated legacy platform to enhance scalability, reduce support costs, and improve user experience through system modernization.

• Implement a comprehensive migration plan to transition from the legacy system to a modern, scalable platform.
• Reduce ongoing operational support costs associated with outdated infrastructure.
• Enable seamless integration of new features, personalizations, and functionality to improve customer experience.
• Accelerate migration timeline to minimize business disruption, aiming for at least 50% faster deployment compared to traditional methods.
• Enhance system reliability, security, and performance to support business growth and compliance requirements.

• Migration of existing system features to the new platform with data integrity preservation.
• Embedding legacy functionalities into the new system to maintain operational continuity.
• Designing a flexible architecture to support future feature additions and customization.
• Building a scalable infrastructure capable of handling increased user load and transaction volume.
• Implementing user-centric features to support personalization and user engagement.
• Integrating secure authentication and authorization mechanisms.
• Enabling real-time data processing and reporting capabilities for business intelligence.

• External analytics and reporting tools
• Third-party authentication providers
• Data feed systems for financial data updates
• Customer relationship management (CRM) systems

• System scalability to handle at least 2x current transaction volume within 12 months.
• High availability with 99.9% uptime SLA.
• Data security compliance including encryption at rest and in transit.
• Performance targets ensuring page load times under 2 seconds under load.
• Automated backup and disaster recovery processes.

The new platform is expected to significantly improve operational efficiency by reducing maintenance costs and support effort. It will enable the client to scale effectively to meet growing customer demand, increasing processing capacity by at least 50%. Improved user experience and system reliability will foster customer retention and attract new clients, ultimately supporting revenue growth and competitive positioning in the financial services industry.