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Application Portfolio Optimization for US based full-service Investment Bank with a potential to reduce the maintenance cost by 50%

Application Portfolio Optimization for US based full-service Investment Bank with a potential to reduce the maintenance cost by 50%

Business Need

The client found itself dealing with rising costs of supporting diverse, disparate, and even obsolete applications. In addition, application data management became a burdensome task. The bank wanted to rationalise the entire technology landscape for clearing and settlement group.

Challenges

  • Creation of an optimal phased implementation approach to achieve the re-engineering goal in a short timeframe while keeping risk in check
  • Exploring legacy implementations on a sampling basis to estimate complexity and issues
  • Identification of third party tools and systems to decrease re-engineering risk and accelerate implementation timeframe
 

HCL Solution

  • HCL carried out Application Portfolio Optimisation exercise for the entire technology landscape of the bank's Clearing and Settlement group and delivered a re-engineered landscape with following recommendations:
    • Usage of tools to achieve short implementation timeframes
    • Leveraging common tools across varied areas based on workflow analysis, reduce complexity of the future environment
    • Usage of PoC (Proof of Concept) implementation for new tools and technologies to manage risks and reduce change impacts
    • Interface approach to data-warehouse initiative already underway in the organization, achieve convergence on approach with the warehousing team
    • Phased migration approach spanning 15 months
 

Business Benefits

  • The technology infrastructure proposed by HCL reduces the maintenance cost to less than 50% of current cost
  • Scalable, open-ended future landscape to meet business growth expectations of next 5 years

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