Why digital transformation in fintech requires mainframe modernization: A cost-benefit analysis

Narasimha Rao Vanaparthi

doi:10.30574/ijsra.2025.14.1.0161

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Why digital transformation in fintech requires mainframe modernization: A cost-benefit analysis

Narasimha Rao Vanaparthi ^*

Acharya Nagarjuna University, India.

Research Article

International Journal of Science and Research Archive, 2025, 14(01), 1052-1062

Article DOI: 10.30574/ijsra.2025.14.1.0161

DOI url: https://doi.org/10.30574/ijsra.2025.14.1.0161

Publication history

Received on 09 December 2024; revised on 18 January 2025; accepted on 21 January 2025

Abstract

This comprehensive analysis examines the critical role of mainframe modernization in driving digital transformation within the financial services sector. The article explores the current state of legacy systems in financial institutions, evaluating both the challenges and opportunities presented by modernization initiatives. Through detailed cost-benefit analysis, risk assessment, and examination of real-world implementation strategies, this research provides insights into successful transformation approaches. The article includes an in-depth case study of Citibank's modernization journey, highlighting key success factors and lessons learned. Additionally, it addresses future technological trends and market dynamics that will shape the evolution of banking systems, offering strategic guidance for financial institutions undertaking modernization initiatives.

Keywords

Digital Transformation; Mainframe Modernization; Financial Technology; Legacy System Migration; Banking Innovation

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How to cite this article

Narasimha Rao Vanaparthi. Why digital transformation in fintech requires mainframe modernization: A cost-benefit analysis. International Journal of Science and Research Archive, 2025, 14(01), 1052-1062. Article DOI: https://doi.org/10.30574/ijsra.2025.14.1.0161.

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