success story

Virtusa modernizes retirement services processing with DevOps and microservices

Organizations are often well aware of the high costs of maintaining their operations in a legacy system atmosphere. Lack of understanding, security vulnerabilities, and integration bottlenecks are among the many reasons that legacy systems are following the path of obsolescence. Yet while these issues are clear, many businesses are still resisting adoption of system enhancements and re-architecting given the level of complexity and risk associated with such an endeavor.

Our client's retirement services division faced a number of limitations in their core record-keeping department due to their legacy systems. The inflexibility they dealt with restricted their time-to-market for new business workflow development and resulted in high project development costs. The client partnered with Virtusa to help assess and guide them through consolidating and transforming their enterprise through innovation.

 

 

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The Challenge

Our client faced multiple challenges that negatively affected productivity:

Efficiency

  • Unimpressive time-to-market rates due to non-standard, inconsistent design and manually-driven critical business processes Inflexible platform made integrations difficult, causing significant hurdles in business demands and M&A requirements Growth
  • The existing record-keeping system was incapable of scaling effectively to accommodate more clients Slow response times and rigidity of system hindered business agility in relation to projected growth Cost
  • The existing system relied extensively on the legacy and third-party applications significantly driving up development costs
The Solution

Virtusa delivered a multiple phase business services strategy and framework to design, build, and deploy a set of component-based services layers that sat on top of the client's core record-keeping system. Highlights of the solution include:

  • Shared services layer using microservices and service-oriented principles to support distributed application development
  • Development of business services that encapsulate core retirement record-keeping functions and are available as components for new applications
  • Application-specific services to support specialized workflows and activities
  • New User-Interface capabilities to allow ease of expansion through modular architecture and built-in features customization.
  • The canonical schema for uniformity and enhanced interoperability
  • Increased security through the use of authentication and single sign-on capabilities
The Solution
The Benefit

The insurer was operating on a 10-year- old legacy application which could not meet the demands of their business.

 Efficiency

  • Minimized costly legacy application rewrites by adopting evolutionary MicroServices architecture to leverage existing IT investments
  • Reduced overall IT costs through implementation of DevOps tools that drastically reduced IT support and infrastructure costs
  • Increased staff productivity through harnessing appropriate subject matter expertise

Growth

  • Improved time-to-market by 40% for development of new business workflows Reduced by new project development costs by over 50% through functional reuse

  Customer satisfaction

  • Improved response times for user authentication and landing screen by 50% and for other core functionality by 30%
  • Increased customer satisfaction as a result of usability improvements and adoption of Model-View-Controller (MVC) architecture to simplify screen rendering
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