Application Rationalization Solutions

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Credit Suisse in the Bank’s Own Words

 

"We intend to continue with a disciplined approach to cost management across the group, focusing on continuous productivity improvements that can release resources for growth investmentswhile maintaining a strong operating leverage."

 

Credit Suisse Annual Report

Key Areas of Focus for Credit Suisse

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Increase Productivity

"We expect to continue operating efficiently in 2020 and beyond, as is standard practice for any business. We will continue to allocate capital to the divisions that we expect will deliver recurring revenues by seeking to invest in talent, subject to market and economic conditions, and further transforming our technology through digitalization, robotics and automation."
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Growth

"We are making additional organizational changes aimed at simplifying structures, and are making important investments in the redesign of certain processes, technology and automation – efforts aimed at shortening the time-to-market of products and solutions, and reducing our relationship managers’ administrative tasks so that they can spend more time with our clients."
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Cost Management

"Thanks to our focus on costs and our strategic approach to cost management, we were able to exceed our target for the reduction of our adjusted operating cost base, which stood at CHF 16.5 billion in 2018 at the end of our restructuring program, CHF 0.5 billion below our target of less than CHF 17 billion."

Luxoft Value Proposition

 

Luxoft can lighten Credit Suisse’s financial and technological load by rationalizing the bank’s complex legacy application stacks.

 

As an established Credit Suisse supplier, we can help you do more with less, improving productivity and releasing locked-in human and financial resources for reinvestment in growth.

 

Luxoft delivers quickly and with minimal disruption. We take responsibility for finding the right solution, unlocking business value that takes others years to achieve.

What Is Rationalization?

 

  • Rationalization enables the digital transformation of major financial institutions with less risk and increased agility and efficiency.
  • It involves managing and containing legacy software estates so internal teams can focus on upgrading, innovating and improving application landscapes.
  • Luxoft drives the whole process by consolidating applications, sunsetting legacy platforms, eliminating functional duplication, guiding the move to packaged vendor solutions and optimizing processes.

 

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Rationalization Process. Eliminate the duplication of functions by combining multiple systems into a single target.

 

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Application Rationalization Offering

 

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Luxoft Self-Funded Transformation

 

With Self-Funded Transformation, Luxoft can help Credit Suisse access future savings for immediate use, by enabling rationalization with no upfront spike in costs.

 

 

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Luxoft chart

 

Luxoft initial investments, terms and conditions depend on complexity of modernization project.
Calculated and agreed after discovery phase and recovered in later phases.

Case Studies

01. Sunsetting Legacy Fixed-Income Platforms

 

Initiative: A top-tier investment bank wanted to reduce costs and simplify its IT footprint.

 

 

Approach: Luxoft assumed full front-to-back platform responsibility via an output-based managed service.

 

Results:

  • 80% reduction in process runtime after reengineering a stress-testing computation process

  • 35% TCO savings after the first year with further reductions in following years

02. Data Modernization

 

Initiative: A top-tier bank needed data consolidation to deliver critical regulatory initiatives alongside digital transformation.

 

Approach: Luxoft built a big data platform that the bank systems used to get a standardized view of transaction and reference data.

 

Results:

  • Through robust access to real-time data, the stakeholder gained a global view of intraday investor services and credit risk exposure for clearing and custody services

  • Legacy platforms decoupled from strategic, allowing work to proceed in multiple parallel streams for accelerated delivery

03. Migrating a Risk Platform from a Legacy Infrastructure

 

Initiative: Fundamental Review of Trading Book (FRTB) required a significant decrease in compute capacity for a top-tier bank.

 

Approach: Flexible SLAs at job level as a result of machine pooling.

 

 

Results:

  • 30% reduction in compute time

  • 40% reduction in infrastructure cost