TCS Legacy Modernization and Replatforming Services
Build a smart and adaptive digital core with TCS’ advisory services
Industry
Banking
Banking Services Transformation: Unlocking Exponential Value
Cyber Insurance
Reinventing the Insurance Industry with a Digital-first Strategy
Solutions
Cognitive Business Operations
Unlock Business Agility and Future-ready Operations with TCS
Data and Analytics
Harness the Power of Data and Analytics for better Business Outcomes
Highlights
- Banks are challenged by legacy enterprise systems and are unable to get the desired returns on these investments.
- We help enterprises build a robust data platform where all enterprise data can be collected, harmonized, and harvested.
- We offer a mature integration fabric that involves business services, data, and processes that define the business data, and the target operating model to enable machine learning and cognitive automation.
In this article
Overview
Banking and financial organizations have made huge investments in legacy core systems.
However, most experience high technical and agility debt due to outdated technologies and complex monolithic designs. Enterprises need technology optimization and modernization, and they need it now.
Transformational initiatives in response to changing market conditions is a continuous process. However, banking, financial services, and insurance (BFSI) organizations often have many disparate processes and data sources, making it difficult to lay down a foundational infrastructure on top of which capabilities can be built. Organizations are struggling to establish an integration fabric that facilitates seamless exchange of data, services, and transactions with various ecosystem entities. The inefficiencies and process breaks in the business value chain across the front-, mid-, and back-office processes also require analytics, an insights-driven approach, and new artificial intelligence (AI) and machine learning (ML) techniques to improve data quality.
TCS’ Legacy Modernization and Replatforming Services help BFSI firms optimize their enterprise legacy systems and standardize expensive workloads on the cloud. BFSI firms are empowered to build a robust data platform, where all enterprise data can be collected, harmonized, and harvested. This helps identify and automate specific steps in the business value chain.
Solution
TCS’ services help enterprises make the most of their legacy systems.
We offer support along the following areas:
- Core modernization and right platforming: Modernize the legacy landscape along with cost-benefit analysis as a codified accelerator.
- Info mesh, intelligence hub, and knowledge traverser: Enable data-driven initiatives with a business services fabric, data fabric, and process fabric.
- Cognitive automation: Identify gaps in automation with an assessment framework and enable automated feature engineering through automation model creation and best fit model selection.
- Next-gen architecture: Create an enterprise platform to connect ecosystem partners using the adaptive cores of banks, software as a service (SaaS), and cloud-native apps, as well as establish standardized application programming interfaces (APIs).
- Going paperless: Optimize and redesign media communication using consulting and advisory frameworks to improve personalization and targeting.
Benefits
With the legacy architecture modernized, enterprises can pursue cognitive automation across operations.
The offering provides the following benefits:
- Cost optimization: Achieve cost optimization of core systems by removing technical debt, optimizing, and reducing million instructions per second (MIPS), tuning applications and subsystems, and offloading read-only data.
- Business agility: Create a data management environment and ecosystem to bring enterprise data in multiple formats, frequencies, and types on one platform and enable data-driven initiatives to gain business agility.
- Improved processes: Enhance operational efficiencies, speed to market, and customer experience through cognitive automation techniques. Identify gaps in the business value chain and implement automation strategies at the right points for overall process efficiency.
- Seamless data exchange: Build a next-gen integration architecture by establishing an integration fabric to enable a governance framework for the rules of engagement, contracts, pricing, and liabilities, and translate capability maps into API catalogs.
Why TCS
TCS brings decades of experience and deep contextual knowledge to the table.
A partnership with TCS can help BFSI enterprises take advantage of the following:
- Proven methodology and frameworks: TCS’ expertise in integrated core optimization advisory and implementation is delivered using the agile methodology. It is also linked to an innovative pricing model for incremental cost savings. TCS’ legacy application containerization approach and DevOps standardize and improve business agility.
- Data-based offerings: TCS’ data offerings for business agility, operational efficiency, and compliance leverage ready-to-use frameworks tackling data, data application, and multiple architectures, among other challenges. Composite services provide a roadmap that best address key performance indicators. These services comprise technology strategy consulting, data estate health check, due diligence of data initiatives, and IT assessment and use case development.
- Next-gen architecture: TCS’ advisory offering leverages an adaptive integration fabric for a complex hybrid ecosystem that is enabled by APIs and microservices architecture. TCS’ domain-driven design and partner integration ensure business process re-imagination and value creation beyond banking value enrichment services with cross-industry use cases.
- Technology expertise: TCS' offerings use the best algorithms and models consisting of deep learning and semantic representations and builds multiple models to generalize learning with templates and AutoML. Access to differentiated solutions such as Callista, Conversa, and CCS ensures long-term solutions to client challenges.
