Application Engineering: eTrading platform re-engineered for increased market share and major cost reductions

Success story
A person using a laptop to monitor and analyse shop floor data with graphs and charts, representing enhanced transparency and efficiency at Schinko.
Combining data from different IT systems and machinery delivers crucial information for optimising production. For more than 30 years, the Austrian company Schinko has been an established manufacturer of machine housings. The company sees digital transformation as an essential part of its strategy, which is why it is focusing on digitalising the core activity of its business: production.

Modernisation

Upgrading legacy systems to ‘digital first’

Automation

Fully automated DevOps development process

Recognised success

Award-winning results

Challenge

Challenge

Migration from legacy to modern technologies to reach ambitious business targets

  • GFT’s client is one of the world’s largest financial institutions, present in over 70 countries
  • The platform delivers $2.5Bn annual revenues, with 1,000s of customers and 10,000s trades per day
  • The bank chose to invest in modernising this platform to support ambitious revenue targets and to regain market share
  • The bank was facing fierce competition for market share from innovative technology focused firms as well as their traditional peers
  • At a group level the bank had an objective to cut costs by delivering efficiencies through technology

 

Engagement

Engagement

Operations simplified and streamlined through modernisation of digital platform

  • The bank’s legacy systems had become a “code monolith”. This meant that changes took a long time, and the platform was difficult to support and maintain
  • The legacy technology stack was modernised iteratively, by abstracting functions away from the monolithic codebase to a full blown microservices architecture
  • Decommissioned several costly and cumbersome legacy systems
  • User-centric approach to design of the new front end, rebuilt from a legacy technology (Flex) to modern technologies (Angular & React)
  •  Full automation of the test, build and release process using DevOps tooling

 

Benefit

Benefit

Implementation of award-winning platform to increase client’s competitiveness

  • As a result of this investment the client gained market share and became the leading platform for corporate customers
  • Realised a 40% reduction in annual costs by introducing automation throughout the technology development and support process - achieved at the same time as the re-engineering effort
  • Increased agility to compete with ‘born-in-the-cloud’ competitors
  • Time-to-market shortened from many months to just days - from problematic, quarterly “big bang” production releases to many production deployments per typical day
  • Improved platform stability by 68%
  • Platform went on to win national and global awards within the eTrading sector

 

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