The urgency created by recent events acted as a catalyst for more customers than ever to use digital channels to engage with their banks and insurers as well as a need for internal teams, working within these types of organisations, to collaborate remotely. This in addition to the fact that in recent years, the Financial Services market has been undergoing significant transformation, driven by the now familiar forces of new ‘born in the cloud’ market entrants, customer demand and increased regulation.
Against this backdrop building, connecting, and maintaining different technologies around inherited, traditional IT, and mainframe – it’s driven by a strategy to rapidly create customer value, comply with regulations, address fraud prevention, and optimise the operation. Financial Services organisations have built technologies which are costly and complex to operate, compete and grow. As current COBOL staff retire, it becomes increasingly difficult to access resources with the necessary mainframe skills.
This is why Financial Services organisations are recognising that relying on outdated mainframe infrastructure and COBOL is not sustainable and the need to modernise legacy applications is now crucial. Given the times we find ourselves in, is it time to consider moving on from the mainframe in a low- risk way while cutting costs and removing dependency from increasing COBOL skills shortage?
Join Fujitsu and a select group of industry thought leaders to discuss the benefits and challenges of moving off the mainframe.