In today’s rapidly evolving financial landscape, legacy technology is a universal challenge. Whether in pensions, banking, insurance, or asset management, outdated systems can stifle innovation, increase operational risk, and hinder the delivery of seamless, secure, and personalized experiences that customers now expect. Yet, the path to modernization is often siloed by sector, with valuable lessons and best practices rarely shared across the industry. At Publicis Sapient, we believe that connecting these lessons is key to unlocking holistic, future-ready transformation.
Across financial services, legacy systems are a persistent barrier to agility and growth. Decades-old core platforms, fragmented data, and manual processes—often reliant on Excel or other end-user computing tools—make it difficult to respond quickly to market changes, integrate new technologies, or comply with shifting regulatory requirements. The cost of inaction is significant: slow time-to-market, increased operational risk, and missed opportunities for innovation and customer engagement.
The BT Pension Scheme, the UK’s largest private pension fund, faced these very challenges. Its investment management team was constrained by a suite of Excel-based solutions that were reaching their limits. To improve efficiency, reduce risk, and provide better investment outcomes for its 280,000 members, BTPSM partnered with Publicis Sapient to build a cloud-native technology platform. The result was a scalable, secure solution that:
This transformation empowered BTPSM to focus on value-added research and analysis, rather than data wrangling, and set a new standard for technological integration in the pensions sector.
The modernization journey at BTPSM is not unique. Similar imperatives are driving change across banking, insurance, and asset management:
Traditional banks, like OSB Group, have recognized that legacy IT systems limit their ability to scale and compete. By partnering with Publicis Sapient, OSB Group built a greenfield, cloud-native core banking platform using composable architecture and agile methodologies. This enabled:
Similarly, an award-winning UK bank transformed its fragmented, manual risk management system into a fully automated, cloud-native environment on AWS. This shift reduced manual configuration tasks by 99%, improved transparency, and ensured compliance with disaster recovery and security requirements.
For insurers, modernization is about more than efficiency—it’s about delivering fresh, differentiated customer experiences. A multinational insurer in Asia-Pacific, for example, partnered with Publicis Sapient to implement a cloud-based platform on Microsoft Azure, enabling rapid expansion, reduced costs, and seamless, secure customer journeys across multiple markets. Another top global insurer leveraged Salesforce Marketing Cloud to create a scalable, data-driven marketing platform, deepening relationships with brokers and customers alike.
Asset managers are also embracing modernization to deliver personalized, omnichannel experiences. Firms like Ninety One and other leading investment managers have moved from custom, legacy platforms to enterprise-grade CMS solutions, enabling rapid content updates, regulatory flexibility, and integration with sales and marketing tools. Cloud migration has further unlocked faster time-to-market, improved performance, and significant cost savings.
Drawing on these cross-industry experiences, several best practices emerge:
Publicis Sapient’s cross-industry expertise in engineering transformation is built on decades of experience and a relentless focus on value, security, and compliance. Our SPEED approach—Strategy, Product, Experience, Engineering, and Data & AI—enables us to partner with financial institutions at every stage of their modernization journey, from initial assessment to full-scale implementation and beyond.
Whether you are a pension fund seeking to reduce operational risk, a bank aiming to modernize your core, an insurer looking to scale with agility, or an asset manager striving for digital excellence, the lessons are clear: modernization is not just a technology upgrade—it is a strategic imperative for resilience, growth, and customer-centricity.
Ready to accelerate your legacy modernization journey? Connect with Publicis Sapient to discover how our cross-sector expertise can help your organization thrive in the digital age.