Success Stories
Reduced Operational Risk for a global Investment Bank by re-engineering of Issuance and Payment Agency Applications
Business NeedThe client wanted to integrate multiple applications migrated from a legacy, tough to maintain system (Clipper) to .NET to record and process transactions related to various debt securities, medium-term notes and Euro Commercial Papers.
Challenges- Since the scope of the project was to re-develop a set of existing client server applications to .Net technology, a critical requirement was to maintain functional neutrality with the existing applications
- Too many applications to support and maintain
- Increasing development and maintenance costs
- Authorization audit issues
HCL Solution
HCL carried out a comprehensive re-engineering activity involving legacy modernization to transform 90+ applications from legacy technologies to a SOA based .Net platform with functional neutrality.
The re-engineering project was executed with the objective of
- Reducing overall cost of support and maintenance of 90+ Corporate Trust and Agency applications
- Consolidating applications from legacy technologies like Visual Basic, Cache, Clipper, FoxPro, COBOL, CICS, JCL, VSAM, PowerBuilder etc. to a SOA based single technology
- Addressing audit issue on legacy applications
- Consolidating of infrastructure
- Significant reduction in Operational Risk due to reduction in manual processes
- Migrated the fragmented multi-platform application landscape to an SOA based .Net platform, developing 23 applications on time and within budget
- Greater business user productivity as a result of more tightly integrated system and with enhanced STP
- Higher cost savings due to move towards a homogenous Architecture and infrastructure consolidation
- Reduced the number of platforms and niche skills required to support applications.
- Reduced Server Inventory
