Case Study
Transformation of legacy core banking system to cloud system for a bank based in Lichtenstein
Deloitte, as a leading professional services organization, collaborated with partners to implement a transformative banking solution. The project involved developing modules for payment handling, client management, and integration with third-party systems. This new system, which has been in use for seven months, has significantly contributed to the bank’s business growth, overcoming the limitations of the legacy system.
The transformation was complex, requiring harmonization of business processes and careful scope management. Success was driven by a deep understanding of the bank’s needs and strategic goals, leading to an optimized delivery process with automated steps using Azure and AWS cloud services. As the solution proved its value, our role expanded to include DevOps and data migration, positioning the bank for future growth.
Customer:
Deloite Slovensko, Bank in Lichtenstein
Project:
Transformation of legacy core banking system to cloud based Core banking solution and custom build satellite systems.
Module:
Payments, Collection, Client servicing, Loan management, Integrations to partners
Technologies Used:
Java, Spring Boot, React, Docker, AWS Cognito, AWS ECS, AWS RDS, AWS Dynamo DB, AWS SNS, AWS SQS, AWS Cloudwatch
Related positions:
Enterprise architect, Solution architect, Backend developer, Frontend developer, Data migration developer, DevOps engineer, Automated tester
30 months
duration
7 nationalities
participate on the project
34 docker
modules were delivered
8 weeks
of step by step ramp-up of the production
Project activities:
The contractor
Project
As a part of the joined team created by several partners, we implemented various modules covering incoming and outgoing payments handling, collection process, client management and integration layer to interact with other third party systems.
Solution
Thanks to our joined effort, the end customer is already 7 months profiting from usage of new solution and increasing business growth (in comparison to legacy system, which was blocking the growth of the bank). Except of direct business benefit, the transformation brought to the client opportunity to start digitisation process and optimising time to market of their products and time to yes (to quickly approve customer’s request).
Transformation of legacy banking system is not simple task, it requires to harmonise business processes, enhance integrations and stay focused to not increase scope of the expected solution (typically is MVP). The delivery teams need from time to time increase of flexibility and bring new knowledge and wind in the team spirit. That was our opportunity, to become from the beginning good partner to search for the right solutions, client needs.
Success
Key driver to reach the success was to understand business needs of the bank and then design partial solutions in a way, that they fit to strategical targets of the bank. It took a while till we optimised delivery processes, and way of communication. But the effort was awarded with stable software incremental delivery process with majority of automated steps using Azure and AWS cloud.
Conclusion
When the solution we delivered had proven its quality, our responsibility grew into the direction of DevOps, and data migration. After successful ramp-up of production and hypercare, it is time to scale the solution as the potential of the market is present.
