At a Glance
When a prominent credit union struggled to scale and add more partners, TVS Next partnered with them, reengineered and modernized their legacy application, streamlined their loan processing, and accelerated their growth by 85%.
Services
Engineering
- App Modernization
- DevOps Implementation
- Cloud Native Development
- Microservices Implementation
- Containerized App Delivery
- Azure Cloud Infrastructure
- QA Automation
- API-First Delivery
Industry
Financial Services
Problem
This leading credit union’s legacy monolith application generated revenue but lacked the agility to implement new initiatives that supported business growth. New partners could increase the company’s revenue, but adding a partner took four weeks.
When the company wanted to add more functionalities, such as external funding and loan sources, to their lending system, every addition required several months of work due to the rigidity of their old system.
Their application was also very slow, which significantly impacted productivity and the speed of operations.
Strategy
TVS Next partnered with the credit union to reimagine their applications and accelerate their growth.
Our team conducted multiple accelerated discovery workshops with C-Executives and analyzed their existing application infrastructure. After understanding the pain points and business goals, our team created a four-stage modernization strategy to solve the credit union’s problems.
Through the accelerated discovery workshops, our team identified significant challenges in the legacy application and prepared a transformation track for each of these challenges.
At the end of discovery, we provided a roadmap with the entire application split into modules and features. Every process within the application was accounted for and mapped into user journeys. We also identified the architecture that could continue to be maintained as-is and proposed the required infrastructure upgrades.
Four-Stage Modernization Strategy
- Accelerated Discovery
- Re-host in Azure for Quick Wins
- Re-engineer and Re-architect App Development
- Containerized DevOps Implementation
Transformation Journey
Our team designed and developed a microservices-based architecture to transform the credit union’s legacy application. We made the handling of microservices easier by implementing containerization in DevOps. We also implemented automation to streamline processes and increase speed.
We leveraged containerized .NET development techniques to allow the company to scale automatically on Azure as the business expanded.
One of the main pain points was slow partner onboarding, and we addressed this by introducing seamless partner integration through the API Management Service of Azure.
After implementation, we ensured the end-to-end functionality of all tools and processes through automated testing. Our team also ensures security and regulatory compliance through security and vulnerability assessments and provides continued technical support and service management.
Business Outcomes
TVS Next’s agile, efficient, and futuristic engineering approach, combined with continuous collaboration with the credit union’s executives, ensured smooth and satisfactory deliveries and accelerated business growth.
85% Faster
Partner integrations into the system.
25% More Efficient
Staff productivity increased.
35% Acceleration
Faster time to market for engineering releases.
35% Increase
Increase in deal approval numbers due to the agile system.
