Legacy Modernization in Capital Markets: Whitepaper Insights

Why is legacy modernization important for capital markets?

In the capital markets industry, one of the primary problems is the number of legacy systems. An increasing number of organizations have been forced to speed up their digital transformation and legacy modernization initiatives in recent years. This process is especially hard for enterprise-level companies with thousands of employees, high-security standards, regulations, and privacy concerns (with pandemic work-from-home orders causing even more challenges). Legacy systems are simply too important to remove and too old to properly integrate within modern workflows.

Most organizations assume that there’s only one way to solve this issue – rewrite legacy applications – which is a lengthy and costly process. As a result, they are forced to put legacy modernization on hold until a better solution emerges, or they continue to invest heavily in legacy tech. This recent articled in The Trade covers a Nasdaq survey of 300 decision makers from exchange groups, brokers, custodians and other services industry.

The results showed that 78% of investment budgets are dominated by maintaining and upgrading legacy technology, while more than a third are planning a major system overhaul in the next five years.

How much are you investing in maintaining legacy technology?

It’s time to streamline legacy system modernization

At interop.io, we acknowledge the urgency of streamlining the modernization of legacy systems and seamlessly integrating them with other internal or third-party applications without rewriting them. To help explore the topic further, we supported industry analyst Monica Summerville’s research in the whitepaper, Modernizing Legacy Systems: Why Loving Legacy Apps is Key to Capital Markets’ Digital Transformation.

The whitepaper’s aim is to address one of the most common problems in capital markets’ digital transformation – legacy systems modernization. It includes interviews with industry leaders and practical insights. Download to learn more about the challenges caused by legacy applications and the ways to successfully integrate them in modern unified workflows without rewriting them.

Key takeaways:

• • Today’s applications are tomorrow’s legacy. Digital transformation is a continuous process.
  • It’s possible for the latest HTML5 and JavaScript applications to communicate with legacy apps written in .NET, Silverlight, Delphi etc.
  • Learn how you can leverage the valuable business knowledge and insight contained in legacy technology while laying the foundations for future agility and flexibility.

With the vast possibilities offered by modern fintech solutions like interop.io, digital transformation has become more accessible for financial institutions.