Modernizing Legacy Systems for a Financial Leader

Overview

Our client, an ASX-listed diversified financial services company with over 100 years of service, faced significant challenges in its investment registry operations due to an outdated platform and aging infrastructure. Frequent disruptions impacted productivity and service quality. Tech Mahindra implemented a comprehensive solution that modernized the platform, automated workflows, and optimized offshore and onshore coordination.More

Our client, an ASX-listed diversified financial services company with over 100 years of service, faced significant challenges in its investment registry operations due to an outdated platform and aging infrastructure. Frequent disruptions impacted productivity and service quality. Tech Mahindra implemented a comprehensive solution that modernized the platform, automated workflows, and optimized offshore and onshore coordination. This legacy system modernization led to a 40% reduction in Total Cost of Ownership (TCO), substantial cost savings, improved compliance, and enhanced customer service.

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Business Challenge

  • Outdated investment registry platform built on legacy tech (PowerBuilder, Sybase)
  • Fragmented workflows with no real-time data access
  • Infrastructure unable to handle growing transaction volumes
  • Frequent operational disruptions impacting productivity and service quality

Approach and Solutions

  • Migrated to a modern, platform-as-a-service (PaaS) registry system
  • Introduced workflow automation using BPM tools and web applications
  • Upgraded core systems (data, reporting, AML, integration, notifications)
  • Enabled offshore delivery with onshore coordination via SME rebadging

Business and Community Impact

  • 40% reduction in Total Cost of Ownership (TCO)
  • 12% improvement in operational efficiency
  • Enabled digital self-service for investors, advisors, and trustees
  • Streamlined integrations with an API-led architecture
  • Improved query management and customer responsiveness