Collaboration to support digital transformation of global banks
Lzlabs GmbH and Huawei collaborated to introduce a novel solution for modernising legacy mainframe banking systems. This was presented at the Huawei Intelligent Finance Summit 2023 to support the digital transformation of global banks.By adopting an innovative approach to mainframe modernisation, the solution facilitates the conversion of core legacy banking systems into modern, flexible systems with a dependable technology stack on an innovative platform.
Solutions
This fresh solution empowers banks to preserve crucial elements, integrate seamlessly with other solutions, collaborate for the right solution, regain control with open technologies, modify only what is necessary while maintaining interoperability, and enable gradual and iterative change. With this solution, banks can embrace the digital world and support the growth of financial digitisation, which will, in turn, sustain steady business innovation. Thilo Rockmann, the CEO of Lzlabs GmbH, was present during the joint solution release session of the “Mainframe Modernisation as a Service” on the first day of the summit.
Modernisation
In the subsequent session speech, Thilo Rockmann emphasized the importance of mainframe modernisation and the process of mainframe application modernisation to achieve transformation success. He presented “From Legacy to Agility,” sharing his industry experience and best practices for mainframe migration. Mr Rockmann also discussed several collective use cases and methodologies that have led to successful migrations, providing customers with greater agility and a leap forward on their digital transformation journey.
Mainframe modernisation is crucial for organisations to keep up with the rapidly evolving digital landscape. It involves updating legacy systems to modern technologies, making them more agile, efficient, and cost-effective. By modernising their mainframe applications, organisations can improve their business processes, enhance customer experience, and gain a competitive advantage.
The process of mainframe application modernisation involves several steps, including assessment, planning, migration, and optimisation. It requires a comprehensive understanding of the existing mainframe environment, application portfolio, and business requirements. By following a structured approach and leveraging the right tools and technologies, organisations can successfully modernise their mainframe applications and achieve transformation success.
Collaboration
During the session, Mr Rockman also highlighted the collaboration between Lzlabs GmbH and Huawei, which has led to increasing implementation opportunities in the industry. He mentioned that further collaborations between the two companies will bring more significant innovation to the market, helping the global financial industry accelerate its digital transformation.
In conclusion, Thilo Rockmann’s session on mainframe modernisation and application modernisation provided valuable insights into the best practices and methodologies for successful migration. The collaboration between Lzlabs GmbH and Huawei is expected to bring more innovation to the market, helping organisations accelerate their digital transformation journey.