Haven’t we all understood that Fintech has been a successful disruptive business innovation that has definitely helped the people make easy and quick financial transactions besides becoming more informed about how to spend, invest or save their money. Especially with pandemic and demonetization hitting us, we saw many fintech organizations coming up and growth in financial services industry. All and any kind of financial transaction from payments, lending or even insurance related services are just one click away now. Fintech Solutions or Financial Software Development services offer solutions to organization to create, transform or improve their systems that help them reduce workload for their employees besides bettering the customer experience and making their business scalable. 

We also know that Cloud has become central to digital innovation and it can be a game changer in financial services sector as well. This is because it offers business benefits like saving on costs of infrastructure and data centres, speedy scalability and flexibility increased efficiency and security and of course improved customer experience which is central to financial services industry as it is a customer-oriented sector. 

Do you know Legacy systems can cripple Enterprises and hurt their productivity by as much as 40% indirectly impacting their Business? Legacy applications are the Apps or software built using older technology compared to the current standard but still being used. They are often considered obsolete or outdated as the process to update such Apps can often be tedious and costly.  

Organizations have two choices. To Replace all the Legacy Technology or pragmatically Modernize the architecture and technology stack. Legacy Application Modernization is when the Application or system or part of it are either written or transferred to a newer environment using current technology. Most organizations are choosing Legacy Modernization not just to stay updated and save costs but also to stay ahead in the competitive market.   

An organization’s journey to success with Fintech Solutions  

A US-based financial wellness provider that has helped millions achieve financial independence since its inception in 1961 has aided over 9 million customers achieve financial stability since 2004 alone. Being a company founded over 60 years ago, this organization started struggling with issues like complicated legacy tasks due to legacy systems, lack of customer trust due to traditional methods of communication, and lack of modern Engineering Practices like DevOps and Ttest Automation. They approached Aspire Systems for a solution.  

After a comprehensive Discovery Phase covering Behavioral Analysis, System Design, Architecture. Data, Aspire has embarked on creating a customized fintech solution with cloud native approach.  

They suggested the organization to modernize their legacy application porting it to latest technological environment. Aspire also introduced the power of microservices and the benefits of cloud development framework,  Techcello to the organization. It was also recommended that the application be continuously updated. 

These solutions brought immediate visible impact in the company’s performance. The successful legacy application modernization helped the company reduce employee workload with automation of mundane and repetitive tasks. The change of traditional modes of communication to modern technology improved the customer experience which in turn improved the Net Promoter Score. At the same time, timely optimization and updates for microservices helped the company stay up to date in the market and get an edge over the competition. 

With these benefits, the company’s long streak of unhappy customers and overburdened employees ended and Aspire helped them reach the same or even a level above their competitions in the market.  

Aspire Systems is a seasoned professional in developing fintech solutions and financial software development services powered by modern technologies for various segments of the financial sector.    

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