Mainframe Modernization for the Finance & Insurance Industries
For years, mainframes have been the information technology bedrock for the finance and insurance industries. Billions of transactions run through these systems every day. There may be understandable concerns about the risks involved in modernizing this aging but business critical platform.
With a long history of relying heavily on the mainframe, finance and insurance companies are at particular risk by not developing a modernization strategy. At Speedware, we understand the unique issues facing these industries, and we specialize in helping you find the right solution.
The key business reasons for considering mainframe modernization are:
- Cost reduction — The volatility in today's market is putting unprecedented cost pressures on finance and insurance organizations.
Software costs alone can consume 40% of a mainframe budget. Whether your measure is cost per transaction or cost per contract, moving mainframe applications and data to an open system can bring dramatic and rapid savings.
- Business agility — Today's customers expect 24/7/365 service and easy, secure access to their bank and account information from any web-connected device.
To be competitive, your company must be able to react quickly...market trends and customer needs are changing quickly. You must have the IT capability to develop new, profitable products faster than ever before.
The mainframe is powerful, but it is designed for technical processing, not for business-oriented rapid reuse of information. The mainframe contains huge amounts of valuable business data that is difficult to store and retrieve. And it is difficult to make that information available to other parts of the business.
What is the end result of staying on the mainframe? You may be put at a competitive disadvantage because it slows your company down with slower responses to customer issues, slower responses to market trends and slower responses to new product development.
The first step in unleashing the power of the data on your mainframe is to get it onto a more flexible platform. Mainframe rehosting with Speedware and XFRAME can quickly have your applications and data running on Linux, UNIX or Windows. The XFRAME environment provides the same power, scalability and security that you are used to, but at a fraction of the mainframe's cost. A rapid project ROI means the cost savings can quickly be allocated to new projects that can enhance your business.
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