LEADING INVESTMENT BANK REDUCES TIME TO MARKET BY 66 PERCENT WITH MPHASIS SOLUTION

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CLIENT

 

An American, multinational, investment bank and financial services company, looking to adopt next-gen services having matured processes, skilled resources and cutting-edge technology to accelerate time-to-market and enhance scalability.

BUSINESS CHALLENGE

 

The client had just embarked on a major digital transformation journey-moving from ‘horizontal/technology’ to ‘vertical/product’ based scrums-and was looking for a partner to deliver next-gen services. Our team, at Mphasis, tackled several challenges such as slow software delivery that was constrained due to inconsistencies in legacy systems, test environments, waterfall-like SDLC, and significant technical debt. Monolithic application architecture resulted in complex and slow deployment procedures, poor application performance, and unavailability. Inadequate regression testing, lack of automation, and poor test coverage led to long release cycles. Seasonal spikes in demand could not be handled and required provisioning of significantly more infrastructure resulting in cost-inefficient operations.

SOLUTION

 

Our team, comprising of T-shaped engineers, implemented service transformation prescriptions for modern patterns of architecture and processes, and deployed tools and accelerators for faster time to market. We worked across the following:

• Architecture: Domain-based with immutable data, infra-unaware, resilient microservices

• Delivery model: DevOps, distributed agile, technical debt management, requirements engineering with INVEST score, and comprehensive in-sprint quality assurance (QA)

• Tools and accelerators: DevOps Analyzer, dynamic provisioning automation, application programming interface (API)/ microservices testing, NFR/T, and cognitive test bot virtual assistant

• TechOps: Proactive monitoring using leading performance indicators, automated alerts and recovery, and error budgets to prioritize operational requirements

BENEFITS

Our innovative solutions allowed the client to experience the following benefits:

• Improved time to market by 66 percent (from three to one month)

• Enhanced application’s response time by 80 percent

• Increased scalability by 82 percent

• Reduced defects per release by 50 percent

• Minimized technical debt by 10 percent

• Lowered cost per release by 42 percent