Case Study: BMO
Bank of Montreal is a leading financial institution providing personal and commercial banking, global markets, and investment banking services to over 12 million customers.
Industry | Fintech
Project Overview
The banking industry plays a vital role in the global economy, contributing significantly to GDP and employment. The industry has witnessed a significant shift towards digital banking, with a 20-50% increase in 2020. Bank of Montreal, being the 8th largest bank in North America by assets, aims to provide the best user experience through its digital platform.
Key Findings
During the project, the following key findings were identified:
Functional Debt
The existing system had functional debt, negatively impacting the user interface and navigation.
Legacy Application
The bank’s legacy application limited security and safety, with a cut-off time imposed by Google.
Technical Limitations
The existing system had technical limitations, hindering its ability to adapt to changing business needs.
Problem Statement
The project faced the following challenges:
01
Legacy-Based Application:
Migrating the outdated legacy application to a new architecture was a significant challenge.
02
Silverlight Framework Limitations:
The Silverlight framework had drawbacks, including inability to fully utilize protocols and limited browser and plugin access.
03
Functional Debt Accumulation:
The accumulation of functional debt was impacting the system’s performance, user experience, and maintainability.
Implemented Solution
To address these challenges, the following solutions were implemented:
Migration to Angular Framework
The legacy framework was migrated to a single Angular framework, resulting in better performance, enhanced user experience, and code maintainability and reusability.
Functional Protocols
Angular leveraged modern web browsers and plugins, ensuring maximum compatibility across different browsers.
Code Refactoring
The existing code was refactored to eliminate functional debt, improve code quality, and enhance system maintainability.
Results
The migration from the legacy framework to Angular yielded significant benefits for Bank of Montreal:
- Enhanced performance
- Code maintainability
- Future-proofing
- Improved user experience
