GoldenSource expands financial services offerings on Amazon Web Services

GoldenSource, a leading independent enterprise data management software vendor for the banking, financial services and insurance industries, is evolving its cloud strategy to improve and expand services to its customers. With the help of DXC Technology, GoldenSource is migrating the development and delivery of key applications to a software-as-a-service (SaaS) cloud hosted on Amazon Web Services (AWS).

Many of the world’s leading financial services firms rely on GoldenSource to provide consistent and accurate data management solutions. To achieve cost savings and increase digital capabilities, the company sought to transform its application offerings by moving from an on-premises or private cloud platform to a cloud-based SaaS solution.

“The SaaS approach gives us immediate access to function-rich capabilities in the cloud, with the ability to offer new functions as needed,” says Jon Hallam, head of OnDemand Services, GoldenSource.

“DXC helped prove the effectiveness of moving applications to the cloud. This mature module is helping us quickly introduce new risk-management capabilities without a large upfront investment in infrastructure.”

Cloud powers digital transformation

Companies in financial services are increasingly embracing advanced cloud technologies to improve the delivery of services while lowering costs.

DXC worked closely with GoldenSource to understand its transformation and product development ambitions. A key goal of the transformation was to implement a cloud-based platform that would allow the company to improve its capabilities while giving it scalability for augmenting offerings.

An essential element of enterprise data management is having the ability to support effective risk management. GoldenSource wanted to enhance the capabilities of its Risk Master module, the company’s application for centralizing and assuring the quality of risk-relevant data.

In conjunction with AWS, DXC set up a proof of concept (PoC) to host the Risk Master applications on the AWS platform. This 2-month PoC not only successfully demonstrated the effectiveness of the cloud solution, it also helped build trust among the players involved with the transformation.

“One of the key benefits of DXC’s support is the focus on delivering better business outcomes, not just technical functionality.”

Increased scalability

DXC and AWS provide GoldenSource with a wealth of technology resources and expertise. GoldenSource is taking advantage of DXC’s many years of experience in banking, capital markets and insurance. Luxoft, a DXC Technology company, and Excelian, Luxoft’s software engineering specialists, are also playing key roles in the cloud journey, as well as in an extensive  transformation of key databases.

Previously, applications such as Risk Master were hosted in data centers. The migration to AWS enables GoldenSource to tap into the power of leading cloud-native database services. In addition to introducing robust SaaS cloud application modernization services, the platform allows GoldenSource to improve DevOps, extend its ServiceNow capabilities and leverage advanced containerization technologies.

A key to the migration was DXC’s role in helping GoldenSource move from Linux to Amazon Linux, a server operating system from AWS that allows enterprises to run applications in a secure, high-performance Linux environment. This upgrade is helping GoldenSource scale more easily in the cloud.

Cost saving is also a key benefit of moving to the AWS cloud. In addition to benefitting from the consumption-based pricing of the cloud, the SaaS service is managed by DXC’s cost-optimized centers in Bulgaria and India.

“One of the key benefits of DXC’s support is the focus on delivering better business outcomes, not just technical functionality,” says Deepak Sharma, vice president of OnDemand, GoldenSource.

“DXC’s support has led to increased scalability, improved ability to offer on-demand application management and hosting services, and an enhanced environment to support new ways of working, including DevOps and  containerization. DXC is a key part of our IT modernization program.”

Strategic move to cloud

Moving to the cloud and increasing SaaS capabilities are also playing a  strategic role in enhancing the options the company can offer to its customers. The expanded cloud capabilities give GoldenSource more opportunities to offer on-demand application hosting services to existing software clients.  While converting its existing customer base from data centers to the AWS cloud, GoldenSource is also able to more easily add new SaaS customers.

As major players in the financial services industry, GoldenSource and DXC share many of the same clients, and DXC has added a GoldenSource module to the DXC Modernization Studio. The studio integrates tools and resources from DXC’s leading partners such as AWS to deliver innovation and value to customers worldwide.

The successful relationship between GoldenSource and DXC serves as a prime example of how DXC is helping independent software vendors modernize their systems. By leveraging partnerships with top cloud providers such as AWS,  DXC can enable companies to benefit from migrating to a SaaS environment.

“DXC’s support has led to increased scalability, improved ability to offer on-demand application management and hosting services, and an enhanced environment to support new ways of working, including DevOps and  containerization,” Hallam says. “DXC is a key part of our IT modernization program.”