Migration of legacy data management
The client is one of the largest financial services companies in the world, based in the U.S. Its range of services includes brokerage, investment banking, mutual funds, insurance, private client services, cards, travel and prepaid products.
The client's existing legacy data management system did not allow for easy or efficient data access. The data, once entered and stored, could not be viewed or reused by any other customer units in the organization. The client wanted a more accessible and comprehensive view of its customer portfolio – a 360-degree viewing ability, which would enable it to create and capitalize on increased sales opportunities. This involved an enterprise-wide initiative and the client needed a technology partner to re-engineer the existing customer data from the legacy application to a new application. The aim was to use this new IT architecture to enhance existing customer relationships as well as be in a position to provide better service to new customers.
The relevant data were stored in multiple outdated customer repositories that did not allow visibility to customers in other units of the client. The client's legacy system included 1,600 application interfaces and the challenge was to manage so many interfaces and simultaneously streamline the migration process. Apart from typical data quality issues, the existing system was also dependent on several other applications and calling programs. This posed added complexity to the migration exercise.
The Infosys team developed and evaluated 11 technical options to address the migration of the 1,600 application interfaces. After further evaluation, the most suitable option was selected in a joint exercise with the client.
The Infosys project team devised a comprehensive implementation road map, which addressed issues such as cost estimates and milestones for the interface migration and technical analysis of the chosen solution. In the first release, data from one of the major legacy customer repositories was synchronized and migrated to the new enterprise component. The team also developed several small applications that operated on top of the enterprise component. The first release was completely managed and developed by Infosys and can boast of a completely successful implementation.
- The client's enterprise-wide IT objective of gaining an adaptable, central 360-degree view of customer data was fulfilled and the client was able to move seamlessly to newer technologies.
- The benefits of the new system were quick to manifest across the enterprise and resulted in far greater responsiveness to business changes.
- This initiative also enabled the client to explore more revenue generating and revenue planning opportunities, such as cross-selling, improved target marketing.
- Based on the enhanced effectiveness and ease of use of the new system, the client has been able to significantly reduce its time to market of new products.