Global Banking Firm Goes with MuleSoft for Modern Integration
July 11, 2022
Our Client
This financial institution is a global markets banking specialist (MBS) offering its international customer base commodities and fixed income and currencies products that focus on emerging markets. The organization prides itself on forming strong, lasting relationships with its clients.
Challenge
At the institution’s foundation is a rich landscape of best-of-breed banking applications, performing core functions related to foreign exchange transactions and purchases of commodities. What their clients see and experience are high level, customer-facing foundational systems. The challenge here related to the downstream interconnectivity of those systems.
Our client possessed a number of integration solutions, both commercial and customized, each completing crucial real-time or batch integrations, managing high-value, time-sensitive transactions and also larger, bulk core banking messaging providing the essential connectivity which underpins their business functions.
These solutions had become inadequate, difficult to maintain, adapt and grow. They hindered our client in their ability to manage new integrations and developments effectively, putting a limit on innovation, efficient change and operations. This prompted the team to look at alternative integration solutions, with an eye to implementing an API focussed solution. MuleSoft was ultimately selected as their integration core to replace the legacy architecture.
Action
Prolifics, like our client, pride ourselves on forming strong, lasting relationships with our customers. This proved to be a fundamental factor in our success.
While the Prolifics relationship and MuleSoft practice was relatively recent, we did have wider MuleSoft expertise in our global delivery team. We had also developed a significant degree of trust and knowledge of the customer systems during a pilot project we had previously engaged on, giving Prolifics unique insight into the architecture and the best way to progress.
For the integration implementation, Prolifics employed an Agile approach for the project delivery, consisting of multiple four-week sprints to deliver more than 160 newly created APIs. Prolifics worked with the customer to prioritize API development, ensuring not only was the solution developed to industry-standards, but also allowed for optimal code-reuse to maximize the efficiency of the solution build process. Our ongoing development lifecycle took the new integrations through the development lifecycle to production. Prolifics delivered a steady stream of APIs to benefit the client throughout the project, allowing them to use and immediately recognize benefits from the new and improved solution.
Result
The critical factor of the original project – now completed – was to efficiently migrate the client onto an API based MuleSoft infrastructure and be able to decommission both previous integration platforms.
Our client realized significant cost savings across the board, removing the unsupported legacy technology; for a more efficient solution to act as a catalyst for innovation, while providing the agility to develop faster.
With the MuleSoft model, reusing the APIs means lower incremental costs for additional APIs and lowers the total overall cost of ownership. Even when developing disparate solutions, there are certain elements that can always be reused, like the handling of errors, reporting, and the way certain transformations are accomplished. Prolifics ensured the customers solution exploited all of these benefits.
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Global Banking Firm Goes with MuleSoft for Modern Integration
Download this case study for more details on:
How Prolifics modernized the client’s critical integration systems.
How Prolifics delivered 160 APIs in just four weeks.
How MBS removed legacy technology to catalyse innovation.