Legacy technology reduction programme for a European based global full service bank

Like many organisations with a complex and demanding applications environment this client had major challenges with getting control of obsolete and soon to be obsolete infrastructure and applications in its global technology environment. When measured over 50% of the infrastructure and network components were deemed as obsolete (or not supportable) including a significant layer of common application code. Increasing risk and regulatory focus from global regulators dictated that the client needed to fix this problem.

This meant proving to the business and its risk groups that the problem wasn’t just fixed, and that processes had been implemented to ensure that the firm had a certain and reliable way of managing legacy technology as a day to day regime. Finyx were engaged to measure the size of the problem, propose guiding principles for legacy eradication, and set up a programme to fix the issue with the requisite data sources, processes and management regime to get the problem under control. An additional aim was to generate confidence and be able to demonstrate to the risk and regulatory divisions that the technology division could manage the growing issue. In addition, we commenced execution of the programme that responsibly handed over the structures and processes to an internal team to complete the process over the following two years.

Information is key – we ensured that everybody in the process understood the necessity to collect, log and maintain accurate date, which involved designing a centralised database of all legacy components for use by the whole firm. Additionally, with architects, engineers and business leaders, Finyx ensured that the forward looking approach to keeping technology suitable and up to date was developed and implemented. Finyx set out principles for the prioritisation approach for remediation and engaged with executive management to ensure that the principles would be adhered to going forward. A divisional scoresheet of progress for each department was developed, to reward and recognise acknowledgement and implementation of the principles introduced.

Finyx also took the opportunity to ensure that as much legacy as possible was removed from the environment on the implementation of new applications and services, as well as handing over a process that was showing tangible positive results and would continue to do so for the following two years of programme duration. Finally, Finyx ensured they were available for regular progress checks and guidance sessions over the remainder of the programme whenever requested.