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A LARGE FINANCIAL SERVICES FIRM IMPROVED OVERALL EFFICIENCY BY UP TO 60% WITH GENERATIVE AI PLATFORM FOR CORE CARDS PLATFORM MODERNIZATION

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  • Financial Services Firm Modernizes Core Cards Platform with AI Adoption

CLIENT

 

A leading global financial services firm with large scale cards operations.

BUSINESS CHALLENGE

The client operated a 40 year old monolithic cards platform built on COBOL, Assembler, VSAM, and CICS. With 50M+ lines of code, 1.4B accounts on file, 900+ APIs, and 25B annual authorizations, the system delivered extremely low latency (<40ms) but suffered from:

  • High technical debt
  • Growing MIPS consumption
  • Heavy reliance on rare mainframe specialists
  • Bespoke implementations that limited scalability and slowed modernization

SOLUTION

 

Mphasis designed and delivered a cloud ready, composable core cards platform using modern architecture patterns and AI enabled engineering.

  • Mphasis NeoZetaTM — AI Agent for Legacy Relearning & Reverse Engineering
    Automated the extraction of business rules, processes, and data flows from 50M+ LOC, dramatically reducing the time and effort needed for legacy analysis.
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  • Mphasis NeoCruxTM — Modern Engineering Platform for Accelerated Build & Migration
    Enabled rapid capability development, automated value stream creation, and a composable business capability architecture aligned to BIAN and ISO 20022.
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  • Forward Engineering AI Agent — AI Driven Build & Development Automation
    Supported AI powered prototyping (Figma.ai), auto code generation, auto test generation, and XaaP based foundations for accelerated engineering.
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    Architectural Advancements:

    • Implemented an event driven architecture enabling real time streaming and reducing batch workloads
    • Created a business capability–driven composable core, improving modularity and scalability
    • Integrated Knowledge Management and visual AI tools for seamless project governance

     

    Mphasis also applied its Savings Led TransformationTM framework to reduce upfront capital investment and ensure rapid value realization.

BENEFITS

 

Through AI led modernization and composable architecture, the client achieved:

40–60% improvement in overall efficiency

Significant reduction in reliance on hard to find mainframe specialists

Faster modernization cycles enabled by AI driven engineering

A scalable, future ready architecture aligned to global banking standards