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Global bank in Singapore achieves IT cost optimization and agility through cloud factory

Value-based strategy for an accelerated migration of app landscape to AWS cloud

 

 

Our client is a major multinational bank with significant expansion in its retail banking operations in APAC. To improve client service and relationships, the bank needs high-performance apps that are secure and scalable. Virtusa collaborated with the client to roll out the region's first cloud migration factory, established at the client's retail banking arm. The initiative aims to assess, prioritize, and migrate more than 40 business apps currently hosted in data centers to AWS in the first year, and another 200+ business apps by the following year.

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The Challenge

The client desired to implement a value-first strategy that would move 75% of all apps to the cloud over the next three years, with the added goal of accomplishing IT cost savings by leveraging cloud IT agility to optimize cloud ROI. However, the client faced some serious challenges in the process:

  • AWS-Specific Cloud Strategy Implementation 
  • The high cost of managing data centers with over 18,000 virtual machines 
  • Major concerns about adhering to regulations and compliances such as HKMA, MAS, etc 
  • Increased competition from local and emerging banks 
  • Time to market delay
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The Solution

Virtusa's expertise and experience in AWS Cloud Migration aided the client in establishing its first cloud migration factory. Virtusa developed an inline strategy after an initial discovery by identifying patterns and approaches for initiating migration to fulfill the cloud's security and compliance requirements. By prioritizing cloud strategy, cost optimization, and operational excellence, Virtusa followed a four-stage process:

Stage 1

  • Cloud governance and migration requirement management: The discovery phase focused on questionnaires, tools, and workshops to find and map services, applications, and infrastructure across conventional, hybrid, and cloud data centers.

Stage 2

  • Application assessment and prioritization: Development of an assessment report and a migration blueprint to guide further analysis and insights into the current and future landscapes.

Stage 3

  • Creation of patterns and blueprints: Creation of "Blueprint As Code" to accelerate infrastructure provisioning by leveraging Infrastructure as Code (IaC) concepts.

Stage 4

  • App migration and testing: Wave-based migration to minimize business impact, manage interdependencies and maximize resource utilization. Implementation and management of end-to-end migration using CI/CD pipeline migration to hybrid and multi-cloud environments, if any.
Global bank in Singapore achieves IT cost optimization and agility through cloud factory
The Benefit

Virtusa's deep migration expertise and the robust AWS cloud platform have enabled the client to modernize their IT estate and maximize benefits. The client aims to move 200+ retail banking apps to the cloud, as well as 300+ other lines of business, paving the way for a successful Cloud-First strategy execution for a future-ready bank.

Key benefits:

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24/7 accessibility to a future-ready platform for real-time bank services

Scalable, reliable, and secure service capabilities that are simple to use

Reduced data center cost

IT cost optimization

Enhanced time to market

Optimal compliance with regulations

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