Age-old applications built on legacy technologies were affecting the client’s investment banking functions. Iris modernized the existing application architecture and helped the client save tremendous costs and turnaround time.
A major financial institution
Re-engineer key compliance application for greater efficiency
Tools and technologies
Oracle 12c, 19c, Elastic, Java and Kafka
The client’s existing database application architecture was resulting in poor performance that was adversely affecting 10,000 investment banking functions. The age-old application posture was disrupting the compliance process for the global M&A, IPO, and other financing deals. The client’s customers were encountering problems such as regulations access, inconsistent or unusable data/deal search results, lagging database updates, delayed response time. The need for a capable system to support duplicate searches, and increasing ad-hoc IT redress efforts and costs were other prime concerns.
Our tech experts re-engineered the entire compliance application and set up a new software system. We upgraded selective elements to improve the infrastructure performance and usage feasibility. The modernized system with new technology architecture streamlined processes and enabled faster, more advanced interactions between the information databases, search queries, and retrieval mechanisms. Complex procedures and the process of viewing features were also simplified.
The solution improved the user experience, turnarounds, data quality, deal compliance, and risk management processes while lowering the costs. Major impacts of the solution include:
Reduced system issues by 93%, while 7% tackled subsequently
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