Reduce downtime and maximize application availability
We reduce system outages and improve the performance and efficiency of the application stack
Application Maintenance and Support
As statistics unravel, organizations spend a major chunk of their IT budget on application maintenance, resulting in shortage of funds for innovation. As the companies’ IT infrastructure grows, so does their maintenance budgets. It isn’t really a surprise that the spending for innovation, a key requirement for competitive advantage, is a paltry sum in most organizations that include banks, financial institutions, third party payment processors, and fintechs. Lack of budgetary allocation for developing new capabilities for the enterprise hits the business interests hard.
The cost to maintain legacy systems has been steadily rising as the hardware, software and the human resources are in short supply. This happens as the IT is evolving fast and technologies become outdated quickly, making it hard for the organization to realize resources. In this scenario, a financial institution has to make continual evaluation of the cost of moving to a new infrastructure or continue with the legacy system. All organizations’ handling finance approach towards their IT infrastructure is generally steeped with caution.
Typical Challenges
In the context of banking, payment processing, and fintech, application maintenance is a complex process and the maintenance team faces some typical challenges regularly:
Legacy applications
Executives, especially the older ones, tend to develop a comfort level with legacy applications and they are hesitant towards adapting to any updation. Selecting the right legacy maintenance approach is also hard due to scarcity of skills and knowledge, rigidity of applications, and costs of maintenance.
Multiplicity of technologies
Enterprise architecture is convoluted, leading to the organizations requiring a legion of applications and technologies for different services. This leads to a serious problem of integration between various technologies, prompting incessant propping up of issues.
Coordination between different teams
A lack of team coordination leads to frictions such as decreased productivity, complicated processes, and unexpected delays in the completion of tasks. In colossal organizations that have teams disbursed over a large geographic area, cultural differences between team give rise to bottlenecks.
Our USP
Application maintenance is about continual updation and re-assessment of applications for eliminating barriers and improving performance. Here is how Verinite creates a difference:
Single point of contact for all maintenance activities
We act as a single point of contact (SPOC) unifying all input information and output channels at a single point. It brings order to the system, lends reliability, and enables us to make the optimum conditions.
Multi-tiered support with defined SOPs for Level 1, 2 and 3
Our experts are adept at setting up multi-tiered support with defined SOPs for Level 1, 2 and 3. This facilitates consistency and integrity in all maintenance activities we undertake.
In-depth knowledge of the banking / payments / cards ecosystem
Dynamics in the payments/cards ecosystem is continuously changing. Leveraging deep knowledge of the ecosystem, our team is able to understand the mechanism between acquirer, issuer, payment gateway, and technologies, providing a precise solution.
Governance structure
Proper governance structure is key to building a successful maintenance management plan. This helps maximize the performance and efficiency of the system, enabling banks, financial institutions, payment processors, and fintechs to reduce downtime and cut maintenance costs.
Our Service Offerings
Verinite helps financial institutions manage enterprise wide IT infrastructure and applications. Our services include:
Bug fixes
An integral part of our services is finding and filing bugs. We categorize bugs according to their criticality and fix them according to this order.
Root cause analysis (RCA)
Discovering the root causes of problems is imperative to find the solutions. Our RCA approach systematically prevents the complications and solve the underlying issues.
Application enhancements
Requirements may demand an organization to raise the capacity of software beyond its specifications. Verinite team has the technical depth to execute an enhancement to create a new capability.
Security code review
Objective of a manual or automated security code review is to identify flaws. Our experts identify the missing secure coding practices and recommend the solution.
VAPT support
Possessing various notable certifications, our Vulnerability Assessment & Penetration Testing (VAPT) services are well-versed with hacking techniques. We follow a systematic approach and methodology for this testing.
Version upgrades
The upgrade process is meant to move the software instance to a new release version. Our team can chalk out the appropriate upgrade path for the organization’s cluster of software.
Performance optimization
Generally an iterative process, performance optimization executes and then monitors enhancements to a code patch or an application. Verinite team works on reducing the turnaround time of the application of the financial institution and improving efficiency.
