Struggling with high operating costs and product innovation due to outdated payment systems? Thoughtworks' five-week engagement will help you build a modernization roadmap so your financial services business stays competitive. During the assessment, you’ll identify your business challenges and the highest-priority modernization targets. Thoughtworks’ specialists will use their vast domain and AWS expertise to show you reference implementations for your key business areas, such as authorization, fraud detection, or clearing and settlement. The roadmap you’ll build with Thoughtworks, willbridge the gap between business goals and engineering solutions. You’ll come away with a comprehensive plan to modernize your legacy payment systems, and a vision that enables technology upgrades to align with business objectives and address your identified challenges.

Sample agenda

During this engagement, Thoughtworks conducts the following activities:

⦿ Kickoff meeting to align on:

• business vision;
• challenges with the legacy platform;
• and modernization objectives

⦿ Assessment of various characteristics of your mainframe systems, such as:

• volume of transactions;
• performance SLAs;
• process documentation;
• batch jobs;
• databases;
• middleware,
• and integrations.

⦿ Stakeholder interviews to gather business and technology needs

⦿ Workshops with your stakeholders to analyze gaps and identify opportunities.

⦿ Presentations to visualize how AWS Cloud can accelerate the modernization program.

⦿ Collaborative planning so you can come away with a thorough modernization roadmap.

Deliverables

You’ll receive two key artifacts from this engagement :

A comprehensive assessment report, which will include:

• key modernization goals and business objectives;
• KPIs to assess the modernization program;
• recommended modernization targets;
• and priority use-cases to address.

A modernization roadmap which will include:

• a detailed breakdown of the priority use-cases;
• dependency map to mitigate potential risks;
• recommended team structure;
• and key delivery milestones.

Applicable areas

This payments modernization assessment and planning engagement is the right jumpstart for you, if you’re experiencing the following challenges with your legacy systems:

• Frequent downtime that hinders operational efficiency.
• Incompatibility with new payment technologies, limiting growth and innovation.
• Missed revenue opportunities due to the inability to handle higher transaction volumes.

During this engagement you’ll build a modernization roadmap for a new payments infrastructure that has the following benefits:

• robust adherence to security standards
• ability to handle high transaction volumes
• accelerated time-to-market for new products
• ability to respond to new regulatory requirements
• enhanced customer experience through efficient transaction processing

Applicable AWS products and services

During this enagement Thoughtworks will advise you on AWS products and services such as Amazon S3, AWS Lambda, AWS Managed Airflow, Amazon EMR, Amazon RDS, Amazon EKS, Kafka Connect, AWS CloudHSM, Amazon DynamoDB, that you can employ for your modernization initiatives.