Platform Modernisation – Challenges, Technologies and Tips for Success – Part 2

Part 1 of this blog series looked at some of the top challenges that firms face to platform modernisation. This blog focuses on some of the disruptive technologies simplifying and accelerating the modernisation journey and a game-changing approach that is enabling firms to transform their technology stack one small step at a time.

Shaping Modernisation with Today’s Disruptive Technologies  

With the rapid evolution of Fintech there are now a number of disruptive technologies that have emerged to address the challenges to platform modernisation and they are changing the way firms shape their digital transformation programmes.

Some of the disruptive technologies leading this space are desktop integration platforms such as Glue42, that simplify user journeys across applications and unify the user’s trading desktop experience.  Also, low-code integration frameworks like Velox, which can be used to build value-add business applications to extend the capabilities and workflows of an OMS or EMS.  In short, unify the data and then you can unify the desktop.

What’s different about these two technologies is that they enable firms to take full advantage of their existing technology stack while embarking on their digital transformation journey. Glue42 can integrate any application in any language on the desktop while Velox can integrate any data set in any structure or form. This dissolves the myth that new technology cannot be integrated with old technology and enables firms to take a gentler phased approach to modernisation.

When combined together, a low code-desktop integration approach empowers firms to deliver solutions to their trading desks in a matter of days rather than months.

What is the Low Code-Desktop Integration Approach and how does it help?

Low-code platforms enable the fusion of disparate data feeds and present this to the users through web-based applications.  At the same time, desktop integration enables the low-code applications to share data or pass UI actions to existing applications on the user’s desktop be they web or legacy, in-house or third party in nature.

The idea being that, as you incrementally modernise your platform using these technologies, the new applications blend and work effortlessly with your old applications and so, the gradual shift from old to new can be made seamless for the end-user.

The attraction of this type of solution is simple:

1. It’s a total front-to-back solution which allows you to maximise your existing assets in the data and on the desktop and so you can keep your technology and your business moving forward together.
2. Next, it’s the flexibility of these technologies – they bend with the requirements of the business and the users and not the other way around. The result is that end-users get agile solutions that fit the way that they want to work.
3. Finally, it’s the speed at which this type of solution can be delivered and later enhanced to keep up with changing business needs. It’s days not months so, for those firms that either have an immediate business need or want a gentler glide path to digitalisation, this is a great solution.

In summary whether you’re looking to solve an immediate business need or wanting to refresh your entire technology stack, this approach allows firms to break down their digital transformation programme into manageable chunks and enables continuous modernisation and innovation for the business and technology alike with huge rewards as we have seen from existing clients.

With this in mind look out for my final blog where I will discuss key tips for success.