Financial Services Cloud Forum

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  • 1.  Modernization strategy for legacy banking applications?

    IBM Champion
    Posted Mon October 23, 2023 11:56 AM

    Is there a modernization strategy for legacy banking applications and if so, which path do you prefer here?



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    Heidi Schmidt
    CEO
    PKS Software GmbH
    Ravensburg
    +49 751 56140 229
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  • 2.  RE: Modernization strategy for legacy banking applications?

    Posted Tue October 24, 2023 10:22 AM
    Edited by Carlos Bittrich Tue October 24, 2023 10:23 AM

    Hallo Heidi, 

    take a look at BIAN's reference implementation https://bian.org/wp-content/uploads/2021/03/BIAN_Implementation_Examples_v1.pdf . The strategy is simple, instead of having a monolytic single core system or system of record, select the best solution for each business area. So you would have your prefered solution for saving accounts, loans, CRM, assets, etc. The process to separate the busines components  (service domains) is called decloupling and of course implies identifying value chains, business components, services, etc. 

    Be aware that you don´t get rid of rethinking your IT architecture with microservices in a middle tier which logic make you unique against the competition and an API or event drive architecture approach to connect everythink

    Viele Grüße

    Carlos



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    Carlos Bittrich
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  • 3.  RE: Modernization strategy for legacy banking applications?

    IBM Champion
    Posted Tue October 31, 2023 12:35 AM

    Thank you, Carlos, for your reply! This absolutely fits also to my strategy to solve this issue. We have made very good experience by clustering the monoloths in logical entities and combine this directly with the technical implementation. We use eXplain from PKS for doing so. What tooling are you using therefore?
    Many thanks for your reply - liebe Grüße - Heidi 



    ------------------------------
    Heidi Schmidt
    CEO
    PKS Software GmbH
    Ravensburg
    +49 751 56140 229
    ------------------------------