Diasoft's approach to legacy system renovation was praised by European banks for its efficiency and high business value

The challenge facing every IT leader in the financial services sector is to innovate and develop technology systems for new products and market share. This has to be done in the face of continued operational and compliance obligations to ensure continuous provision of high quality services. Keeping the right balance between innovation and operational and regulatory commitments is the leading concern amongst over 100 IT leaders recently polled by FST researchers.

In this situation, modern technological trends bringing additional business value to financial institutions became the main issue of FST Summit Europe 2011 which gathered together top managers of the largest and most advanced international banks. The Summit participants specially focused on the following business and technological trends currently dominating at the financial market:

• High priority of Mobile banking servicing;

• Cloud computing as a base for better planning of IT resources and easier access to the banking products;
• Improvement of Business Intelligence and Analytics technologies;
• Customer-centric approach to banking, with institutions doing more to deliver an enhanced user experience.

Such business and technological enhancements of a bank are possible only with the use of modern technological platforms and through a better IT and Business alignment. As a lot of banking systems were developed decades ago and based on various legacy technologies, such as Cobol and PL/1 or similar, the banks face more and more difficulties in adopting new business modules and providing innovative services and products. That is why one of the most important issued discussed during the Summit was the transformation of legacy solutions.

As was discussed during the Summit, the banks are trying different approaches to their IT transformation with most of them actively moving towards SOA-based architecture which allows for higher flexibility and better integration and development opportunities. In comparison to SOA wrapping, complete system replacement or legacy source code rewriting, Diasoft’s renovation approach definitely offers to banks more freedom and flexibility in their transformation process, requires less time and resources, and significantly mitigates the migration risks.

Diasoft’s know-how allows for renovating banking software through automated conversion of legacy source code to cutting-edge SOA JavaEE technology. It brings legacy systems to a new level of flexibility, increases their performance and enhances integration and development capabilities while retaining the established business logic of all operations and providing opportunity to use the same or similar user interfaces and operations logic the Customer has accustomed to. 

Diasoft’s renovation approach is based on its own FLEXTERA System Platform. This is a modern SOA-compliant development tool and a reliable framework for Java-based services built on enterprise process servers and application servers. The platform incorporates a set of Java services performing separate business functions and provides a comprehensive BPM-Engine orchestrating these services as well as third party applications within a single business process.

Using Diasoft’s unique renovation methodology, the Customer acquires all advantages of modern technologies without the need to reconstruct their business processes. With this cost effective and low-risk approach, the Customer can capitalize on the investments and years of work spent on perfecting legacy software and acquire an advanced orchestration mechanism for the better performance and successful future development. To further expand the existing functional range and launch new products and services, FLEXTERA System Platform can be complemented with a comprehensive range of over 70 Diasoft’s off-the-shelf functional modules specially developed to support modern requirements of a dynamic financial institution.

About FST Summit: The Financial Services Technology Summit organised by FST is an important arena for senior level executives to engage in clear and focused dialogue with their peers and examine their management objectives. It is also an opportunity to get acquainted with the international market trends and most advanced global technologies working to fulfill the most sophistication business needs. You can find more information on the Financial Services Technology Summit 2011 at http://www.fsteuropesummit.com/