Challenge:

• A global fintech leader was starting a year-long endeavor to modernize and enhance their banks’ cores and shift them to an internal cloud platform. This application modernization initiative began when the company realized that banks needed the agility to react quickly to rapid changing technology, new competitors, and rising client expectations.

Solution:

• The company selected Converge over two other international consulting firms to provide Scrum teams aiming to tackle various banking core modernization projects and a shift from SOAP to REST utilizing Agile methodologies.
• The teams included a Converge Development Manager, with 17 other consultants sourced through Talent Solutions, including an Agile Coach, Product Champion, Development Lead, Developers, Business Analysts, and QA. These teams were accountable for deliverables within two-week sprints over the course of 14 months.

Results:

• As a result of the application modernization projects and cloud migrations, the company has experienced cost savings by enhancing and modernizing bank APIs and alleviating technical debt.
• To date, this project has led to the development of a precision application modernization practice of 18 people, with an expansion from the company’s Account Services team into the Digital Transformation group, along with several permanent placements.