Enterprise Modernization Drives Business
Outcomes for a Leading Lender
The client is a New York-based business financing lender that provides merchant cash advances and short-term small business loans across different industries. They are known for their extensive funding solutions and for giving loans anywhere between $5,000 to $500,000 in just 72 hours.
The client’s legacy monolith application generated revenue but lacked the agility to implement any new initiative to increase business growth. It was a huge challenge when the client wanted to add external funding and loan sources to the lending system. This exercise required several months of planning, and the legacy platform had to undergo significant upgrades for this one addition.
The client’s data landscape was on-premise and had siloed environment with a lack of good data governance and management. There was no data pipeline/ETL to onboard new systems. Their business application had no data analytics and OLAP capabilities, effectively preventing the client from capitalizing on revenue opportunities through cross-selling. The legacy application also led to slow operations and reduced productivity among employees.
Multiple business units require batch and real-time data analysis on different systems and formats. But their existing data warehouse was unable to support these requests.
The client invited TVS Next to discover, assess & recommend an enterprise modernization strategy addressing the above-mentioned issues.
The team interviewed multiple stakeholders, including C-Executives, to determine the objectives, business and technology drivers, and enterprise modernization scope. They collected as-is state system performance and cost and identified critical success factors for modernization such as portability, optimization, operational efficiency, minimal disruption, better performance, reliability, security, and 30+ attributes. disruption, better performance, reliability, security, and 30+ attributes. After carefully analyzing the client’s existing infrastructure, the TVS Next team created a comprehensive modernization strategy spanning different domains to solve the client’s problems.
Through the accelerated discovery investigations, TVS Next came up with a list of significant challenges in the legacy application and data warehouse and prepared a transformation track for each challenge. At the end of discovery, we provided a roadmap for complete enterprise modernization with separate tracks focusing on Data, Application, Design, and Automation. Every process within the organization and its applications were accounted for and mapped into user journeys. We gave the client a list of architecture that can continue to be maintained as-is and the proposed infrastructure upgrades.
TVS Next executed a proof of concept on the recommended target state architecture in the Azure platform before the implementation to demonstrate and validate that the target platform addressed the technical and business drivers for the client. TVS Next then put together a team of business analysts, technical architects, cloud architects, data architects, scrum masters, UI/UX designers, full-stack engineers, automation architects, and technical project managers to work on the transformation project.
TVS Next transformed the client’s monolithic application architecture into a microservices-based architecture. We made the handling of the microservices easier by implementing containerization in DevOps. We changed the legacy UI into a modern UI/UX to increase ease of use, productivity, & collaboration.
We migrated and modernized over 500GB of data from 10 different departments and multiple different sources. We changed the reporting module from an excel-based custom-coded one to a Tableau-based real-time visualization. The new application contains auto-scale capabilities to support the client’s business expansion. We also implemented hyper-automation throughout every process using Automation Anywhere.
By leveraging the API Management Service of Azure, TVS Next has made partner integrations at scale into a seamless and quick process. After the implementation, we ensured the end-to-end functionality of all tools and processes through automated testing. TVS Next also ensured security and regulatory compliance through audits and provided continued technical support and management of services.