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AI-Led Modernization Preserves Critical Knowledge

RESULTS

60%

time savings compared to manual analysis


80% lower costs

For analysis and discovery

3.2M lines of COBOL

Analyzed to preserve critical business knowledge

994 COBOL programs

Reverse-engineered across core financial services systems

6.2M+ additional lines of code

Brought into modernization planning across three additional portfolios

Executive Summary

For a leading wealth management firm, decades of business logic sat buried in millions of lines of COBOL code, at risk as veteran specialists neared retirement. EPAM used its MFLens platform, part of EPAM AI/Run™.Tools, to reverse-engineer and extract the business rules, dependencies and lineage — cutting analysis effort by 70% and discovery costs by 80%. 

SERVICES

  • EPAM AI Run™
  • Data & Analytics
  • Modernization

STRATEGIC PARTNER

  • Microsoft

INDUSTRIES

  • Financial Services
  • Capital Markets

THE CHALLENGE

Operational Complexity at Scale

The client's core trading, funds and settlement operations ran on a mainframe estate built and refined over decades. Business logic was distributed across 994 COBOL (Common Business-Oriented Language) programs, alongside JCL (Job Control Language), stored procedures, DB2 schemas that supported critical financial services functions. Much of that knowledge lived in code and in the experience of long-tenured specialists, rather than in documentation future teams could rely on. That created a problem bigger than technical debt: several of the firm's most experienced COBOL specialists were approaching retirement, putting at risk the knowledge needed to interpret business rules, dependencies and operational exceptions.

Before deciding what to modernize or how to sequence the work, the firm needed a clear picture of its own application landscape. Manually reviewing millions of lines of code would require a level of subject matter expert (SME) involvement that was difficult to sustain within the program’s timeline, while still leaving room for interpretation errors. The firm needed a scalable way to capture that institutional knowledge, validate it with the experts and turn it into a real foundation for modernization.

Before launching the program, the client asked multiple vendors to demonstrate how they would approach reverse-engineering a representative portion of the legacy estate. Based on the proof-of-concept results, EPAM was selected to lead the initiative.

The Solution

EPAM brought together a cross-functional global team of experts from India, Poland, Canada and the US to build an AI-led reverse and forward engineering program on a simple principle: AI accelerates the analysis, and experts validate the result. Rather than treat reverse engineering as a documentation exercise, the goal was to preserve institutional knowledge and turn it into something the modernization team could actually build from.

Reverse Engineering the Legacy Estate

Preserving Institutional Knowledge

Designing the Modernization Foundation

Prioritizing What to Modernize First

By the end of the engagement, business knowledge embedded in legacy code and held by a small group of specialists had been captured, validated and made available to future engineering, support and modernization teams.

The client was able to move into modernization with greater confidence and less uncertainty compared to when it started.

Key Features

01

Preserved Institutional Knowledge

searchable business rules, dependencies and data lineage extracted from legacy systems

02

AI-Accelerated Analysis

faster insight generation with SME-led validation

03

Validated Modernization Blueprint

target-state architectures, migration plans and implementation-ready backlogs

04

Clearer Development Readiness

requirements and designs prepared before implementation

05

Reduced Modernization Risk

early visibility into dependencies and application relationships

06

Reusable Knowledge Foundation

scalable repository supporting future modernization initiatives

TECH STACK 

PARTNER WITH US

Turn decades of legacy system knowledge into a modernization roadmap you can deliver value on.