Client story Financial Services Giant Enables Innovation and Scale in Azure
By Insight Editor / 24 Feb 2022 / Topics: Cloud Device lifecycle Migration Consulting services
Facts at a glance
Client industry
Financial services
Insight provided:
- PoC to showcase the fitness and capabilities of Microsoft Azure
- Expert team members to lead cloud transformation efforts
- Services in close collaboration with Microsoft
- A framework for migrating hundreds of clients with no downtime or interruptions
- A scalable and innovation-focused Azure environment with which to enhance the software and grow the company.
Insight services:
- Consulting services
- Professional and lifecycle services
Outcomes:
Download the client story
- Risk-mitigated cloud migration that protects trillions of dollars traded and invested
- Far greater innovation potential for a business-critical application
- Increased agility and global scalability
- Improved user and customer experience
- Environment to support broadscale modernization
- Potential for increased revenue with a more dynamic and robust software offering
The client
The client is a large, multinational investment management corporation that has served individuals, financial advisors and firms, institutions, and governments for more than 30 years. Today, the company employs more than 10,000 people in dozens of countries around the world and is entrusted with trillions of dollars in Assets Under Management (AUM).
The challenge: Migrate business-critical software that manages trillions of dollars to the cloud
The company has an institutional portfolio management platform that had been running on-premises in numerous global data centers since its creation. The software supports both internal users and external customers, including asset managers, pension funds, and corporate treasurers, and managing more than $18 trillion in assets worldwide. It is core to the client’s business and absolutely must be always available.
While the offering is extremely sophisticated and differentiated, the client wanted to ensure its continued excellence by moving it to the cloud — an unusual path for financial services companies. The client was looking to take advantage of the innovation and scale of the cloud, while reducing CapEx and physical infrastructure investments, particularly as it continues expanding into new markets around the globe.
The solution: A multiyear roadmap to Azure — with the support of an expert partner
Insight was first introduced to the client prior to this need, proving itself to be the solution integrator the client needed to realize cloud transformation.
The client began by evaluating the platform option of AWS® versus Microsoft® Azure® through a Proof of Concept (PoC). Insight worked closely with Microsoft to demonstrate how Azure would provide the optimal environment for the client’s most critical software.
A five-year contract solidified the software’s future in Azure and entails:
- High-touch care and coordination from Insight and key Microsoft team members
- Hundreds of zero-downtime migration events, from global data centers to
- Azure, that leverage customized automation and infrastructure as code (Terraform® Open Source)
- Deployment and adoption of Azure DevOps, Azure IaaS and Azure PaaS
- Implementing Azure SQL, Cosmos DB, and Data Factory for scalable data intelligence
- Implementing Azure Kubernetes Service, Application Gateway and API Gateway to form a modern application development environment
The benefits: Innovation, scale, and true business agility
Over the next several years, the client will continue to reap the benefits of this decision.
By running its software in the cloud, the client can more easily expand into new markets when it acquires new customers in different regions around the world, with data center capacity no longer being a concern. The client can also now move forward with multiple releases per day with low defect and rollback, benefiting from the built-in capabilities and high level of research and development of a cloud hyperscaler rather than attempting to recreate such an environment on-premises. With capabilities enabling continuous development and deployment, the client will be able to realize improved financial impact, as well as faster time to value.
The software will greatly benefit from the innovative capabilities in Azure, helping the client drive modernization, increase the value of the software, grow and deepen customer commitments, and be more responsive to market changes and needs. The Artificial Intelligence (AI) and machine learning capabilities in Azure, for example, enable the client to rapidly build data and financial models to help internal investors and external customers increase returns and wealth and maximize financial vehicles.
