success/mortgage-services-provider-reengineering-and-migrating-the-legacy-system-to-cloud

Mortgage Services Provider: Reengineering and Migrating the Legacy System to Cloud

Mortgage Services Provider:

Mortgage Services Provider:

Reengineering and Migrating the Legacy System to Cloud

Industry: Banking, Financial Services & Insurance

Delivery Center: Costa Rica

Transforming Mortgage Services-Industry Context

Industry Context

The mortgage services industry is evolving due to increasing customer expectations for speed and convenience, as well as regulatory pressures for enhanced security and compliance. Leading financial services companies recognize the need to modernize their technology infrastructure to remain competitive, improve operational efficiency, and deliver superior customer experiences. The shift away from legacy systems is an opportunity to reimagine how mortgage services are delivered in an increasingly digital-first financial landscape.

Transforming Mortgage Services-Client Challenge

Client Challenge

A premier national provider of mortgage services was grappling with the limitations of its legacy Enterprise Loan System (ELS). Extensive manual processes in loan processing and document delivery led to high costs and significant strain on employees. The inability to scale services dynamically resulted in capacity wastage and service disruptions. Moreover, a rudimentary DevOps pipeline hindered the company's agility, slowing time-to-market for new products and features. These challenges were compounded by increased security and compliance risks stemming from systems ill-equipped to handle modern cybersecurity threats and regulatory requirements.

Approach

Encora chose Azure as the platform of choice due to its seamless integration with the client’s existing .NET stack, comprehensive PaaS services, and proven expertise in reengineering and migrating legacy systems to the cloud. Encora’s comprehensive solution included: 

  • Cloud Migration: Migrated the environment from on-prem infrastructure to Azure. Utilized Azure PaaS services to accelerate cloud adoption.

  • Cloud Architecture & Engineering: Reengineered the legacy Enterprise Loan System (ELS) to modern microservices based cloud-native architecture on Azure. Automated the business processes to reduce manual intervention and overhead. 

  • Product Development: Rearchitected and delivered the next major release of the ELS platform, enhancing its core functionality. Migrated to a modern architecture improving site performance, better business integration and improved automation.

  • Web & Mobile App Design & Development: Reengineered the existing product suite to rich UI using Bootstrap and Angular.

  • Continuous Delivery: Supported the migration towards a rapid delivery model.

  • Test Automation: Ensured the quality and speed of all development throughout the process. 

Azure Services

Azure Pipelines

Azure Traffic Manager

Azure Kubernetes Service

Azure Active Directory

Azure Service Bus

Azure Load Balancer

Azure WAF

Azure Front Door

Azure Key Vault

Azure Blob Storage

Azure Cosmos DB

Azure SQL

Azure Monitor

Azure Application Insights

Results

Encora's Azure-based solution delivered transformative outcomes that directly addressed the client's strategic challenges:  

  • Enhanced operational efficiency: New, automated loan approval and document generation processes reduced manual intervention, cutting processing times and improving employee productivity. This was achieved through Azure Service Bus for seamless data exchange and Azure Cosmos DB for efficient data management. 
  • Improved scalability and cost management: Dynamic scaling capabilities, implemented via Azure Kubernetes Service, reduced infrastructure costs by 20% while ensuring optimal performance during peak periods. This elasticity allowed the client to manage resources in line with demand fluctuations. 
  • Accelerated time-to-market: The modernized DevOps pipeline, powered by Azure Pipelines enabled faster rollout of new features and products. 
  • Strengthened security and compliance: Implementation of DevSecOps practices using Azure CI/CD pipelines and Azure Key Vault addressed static and dynamic security needs, ensuring robust protection of sensitive financial data and improved regulatory compliance. 
  • Enhanced system reliability and performance: Leveraging Azure Monitor and Application Insights, the client achieved ultra-high availability by proactively identifying and resolving potential issues.  

Deployment Time

Deployment Time

Processed Work Orders

Processed Work Orders

With Encora, you benefit from our broad experience in developing cloud-first, data-first, and AI-first solutions, crafted to optimize your technology investment for today and the future.

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Santa Clara, CA

+1 669-236-2674

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Innovation Acceleration