New Whitepaper Explores Challenges Related to Legacy System Modernization

Modernizing Legacy Systems Whitepaper Cover Image

Why is legacy modernization important for capital markets?

Most of the organizations were forced to speed up their digital transformation initiatives by the covid-19 pandemic and this process was especially hard for enterprise-level companies. With their thousands of employees, high security standards, regulations, and privacy concerns, financial institutions were facing even more challenges to transition to remote work.

In the light of the recent events, we acknowledge the need of a quicker way to modernize legacy systems and integrate them with other internal or third-party applications without rewriting them. Therefore, we supported the research conducted by the industry analyst and Winchmore FST Director Monica Summerville called Modernizing Legacy Systems: Why Loving Legacy Apps is Key to Capital Markets’ Digital Transformation​.

How modern technology can help overcoming the legacy challenges?

The study aims at addressing one of the common problems in capital markets’ digital transformation – legacy systems modernization. It includes interviews with industry leaders and practical insights. In the twelve-page paper, you will learn about the challenges caused by legacy applications and the ways to successfully integrate them in modern unified workflows without rewriting them.

With the vast possibilities offered by modern fintech solutions, digital transformation is now made easier for financial institutions. The research explores which are the key capabilities and technologies that can enable faster and more cost-effective system modernization.

Whitepaper findings analysis

Soon after the paper was published, the author Monica Summerville and our COO James Wooster were part of the online event TradeTech Virtual Summit 2020 to discuss its findings. During the webinar they engaged in discussion of the study and analyzed the main points it covers. You can watch the recording here.

The whitepaper is available to download for free on our website here.

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Author Details

Loreta Bahtchevanova