Global Bank Achieves 20% Cost Takeout and 50 bps Fraud Reduction through Cloud-Driven Data Modernization with Coforge
Overview.
A leading global bank was grappling with the limitations of its legacy on-premises data infrastructure. With increasing pressure to enhance operational efficiency, ensure data-driven decision-making, and meet regulatory expectations, the bank embarked on a transformational journey to modernize its data estate by migrating to the cloud.
Legacy data systems were inhibiting scalability and agility.
A fragmented data environment created inconsistencies in governance and reporting.
The client needed a secure, cloud-native platform to centralize data management and analytics.
A phased migration required real-time data replication between on-premises and cloud environments.
Ensuring compliance with robust data security and governance policies was paramount.
Solution.
Coforge designed and deployed a comprehensive AWS-powered cloud solution to modernize the bank’s data landscape and drive cost optimization:
Cloud Migration: Seamlessly migrated critical data workloads to AWS, enabling centralized data access and storage.
Analytics Enablement: Developed interactive Power BI dashboards with automated provisioning for near real-time insights.
Operational Automation: Introduced automated monitoring systems integrated with self-healing capabilities and machine learning.
Advanced Risk Analytics: Built predictive models for fraud detection and transaction monitoring, using AI/ML algorithms.
Hybrid Data Architecture: Enabled continuous data replication to support the phased migration with zero disruption.
The Impact.
20% Reduction in Headcount through automation and operational streamlining
99% Real-Time Monitoring Success Rate enabled by AI-driven automation
30% Drop in False Alerts in transaction monitoring systems
50 Basis Points Fraud Reduction achieved through predictive fraud analytics
99% Accuracy in Anomaly Detection, enhancing regulatory compliance and internal audits
This engagement exemplifies how cloud-first transformation can modernize IT operations and unlock significant cost savings and business agility. By partnering with Coforge, the bank was able to streamline operations, reduce overhead, and elevate risk management, laying the foundation for a future-ready, data-driven enterprise.
