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 and legacy modernization initiatives by the pandemic. This process is especially hard for enterprise-level companies. With their thousands of employees, high security standards, regulations, and privacy concerns, they faced even more challenges in the transition to remote work. One of the greatest problems is the great number of legacy systems in the capital markets industry. They are too important to remove and too old to properly integrate within modern workflows along with new systems.

Most organizations see only one way to solve this situation – rewrite legacy applications. This is a lengthy and costly process, the last thing they need in the world of a post-pandemic crisis. And here is where the process stops and legacy modernization is put on hold until a better solution emerges.

How modern technology can help overcoming the legacy challenges?

In the light of the recent events, we acknowledge the need for 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 by the industry analyst Monica Summerville called Modernizing Legacy Systems: Why Loving Legacy Apps is Key to Capital Markets’ Digital Transformation​.

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 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 publishing, the author Monica Summerville and our COO James Wooster took part in the virtual event TradeTech Virtual Summit to discuss its findings. During the webinar, they discussed 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

Marketing Manager, Glue42

Loreta is Marketing Manager at Glue42 — an award-winning desktop integration platform that simplifies user journeys across native and web applications. She has started her career at the European Parliament Information Office in Sofia and soon discovered that her passion is the IT industry. During the last 5 years, she has been focused on B2B software solutions.