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Banking, Financial Services and Insurance (BFSI)

BFSI

mLogica's Expertise in GenAI-Powered Migrations for Financial Services

Modernizing BFSI with GenAI

The Banking, Financial Services, and Insurance (BFSI) sectors are grappling with increasingly complex challenges that demand modernization of legacy and mainframe systems. These outdated systems struggle to keep up with the industry's growing requirements for operational efficiency, enhanced customer experiences, and the ability to leverage advanced analytics. Additionally, financial institutions must meet stringent regulatory standards, reduce operational costs, and embrace innovation to remain competitive. Modernizing legacy infrastructures is not just a technological upgrade; it’s a strategic imperative to ensure long-term success and resilience in the fast-evolving financial landscape.

Why Choose mLogica?

mLogica stands at the forefront of automated GenAI-powered application and database migrations, delivering specialized solutions tailored to the needs of the BFSI industry. With a proven track record of handling complex financial systems, mLogica ensures seamless modernization of mainframe and legacy databases to the cloud. The company’s deep industry expertise and innovative use of Generative AI empower BFSI organizations to modernize while maintaining data integrity, security, and compliance. Financial institutions that partner with mLogica benefit from rapid, efficient migrations, enabling them to drive innovation and stay agile in a highly regulated environment.

Pioneering Automated Migrations

Founded by industry veterans with decades of experience, mLogica has revolutionized the migration landscape by leveraging Generative AI (GenAI) to automate the process of application and database modernization. Their GenAI-powered software not only accelerates migration timelines but also reduces the risk of human error that can occur in complex financial systems. This pioneering approach ensures that migrations are precise, efficient, and cost-effective, giving BFSI companies the confidence to migrate their mission-critical applications and data with minimal disruption to their operations.

Focus on Financial Services

The BFSI industry is unique in its demands for robust data security, regulatory compliance, and operational reliability. mLogica specializes in meeting these critical needs by offering GenAI-powered migration solutions that ensure secure, compliant, and seamless transitions from legacy systems to cloud-based platforms. With a deep understanding of the financial sector’s regulatory landscape, mLogica tailors its solutions to address the sector’s most pressing challenges, such as stringent data governance requirements, international compliance standards, and the need for uninterrupted availability of services.

mLogica Thought Leaders: Why Financial Services Organizations Must Migrate Their Legacy Databases

Handling Complex Environments

One of mLogica’s core strengths lies in its ability to migrate both distributed and mainframe systems to the cloud, a critical need for BFSI companies managing diverse and complex IT environments. Their automated solutions are designed to handle even the most intricate systems, reducing the risk of downtime and ensuring smooth, cost-effective transitions. By simplifying the modernization process, mLogica enables financial institutions to focus on innovation and strategic growth, while mitigating the risks often associated with migrating mission-critical systems.

Success Stories

  • A leading financial services company partnered with mLogica to modernize its mainframe technology by migrating 486 Easytrieve routines and 456 JCL scripts to COBOL. The customer aimed to eliminate dependency on legacy tools and reduce infrastructure costs. mLogica used its automated LIBER*M Mainframe Modernization Suite for a seamless migration, converting the legacy programs while maintaining original functionality. The project delivered significant benefits, including cost savings, technology consolidation, improved functionality, and freedom from aging technologies. The successful migration allowed the company to streamline operations, enhance agility, and reduce maintenance challenges.
  • A major U.S. financial services provider partnered with mLogica to assess and modernize their legacy Assembler applications as part of a mainframe modernization initiative. Facing challenges with aging Assembler programs, the customer sought to migrate them to COBOL or Java to reduce technical debt. mLogica used its automated LIBER*M Mainframe Modernization Suite to conduct a comprehensive portfolio assessment and deliver a proof of concept (POC). This verified the successful conversion of Assembler programs, ensuring 100% functional accuracy. The project provided a clear roadmap for modernization, leading to mLogica's role as the lead consultant for ongoing migration efforts.

The Future of Financial IT

As the BFSI sector continues to evolve, the future of financial IT infrastructure hinges on agility, security, and efficiency. mLogica’s expertise in automated migrations positions them as a key partner for financial institutions seeking to modernize and future-proof their IT systems. By staying at the forefront of technological innovation, mLogica helps clients navigate the complexities of modernization, ensuring their systems remain scalable, secure, and aligned with the changing demands of the financial landscape. With a focus on delivering excellence in IT transformations, mLogica sets the standard for BFSI migrations, empowering institutions to thrive in a digital-first world.