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Banking on Change

The banking industry has been disrupted constantly over the last decade. High customer expectations and a stringent regulatory environment have made the pace of change even more urgent and dramatic. Our client, a digital challenger bank, pivoted a few times in recent years before landing on its successful market proposition in retail banking for individuals and small businesses.

Once they settled on the right product fit, it was clear that years of experimentation had left them with a legacy architecture that wasn’t ready for the future. With the dual challenges of scaling while remaining compliant, they turned to EPAM Continuum for our integrated consulting expertise, which weaves together both our advisory and engineering services to make digital transformation real.

Our business strategists, engineers and regulatory experts got to work. 

We helped our client:

Determine its ideal future state
Figure out how to get there, including vendor selection
Define a migration strategy
Develop and execute a plan to make transformation seamless


To bring the future forward, we had to define where the client was and where it needed to go.

We evaluated its current state by conducting a product portfolio analysis, IT architecture review and process landscape mapping.

To understand the client’s needs, we had to take a deep dive on strategy. Technology represents the tools, but real digital success requires those tools to be mapped to strategy at every step. To better understand our client, we evaluated their market position; analyzed their key competitors; mapped out their products and features; and pinpointed their unique selling points, key performance indicators and strategic goals.

It became clear the company needed a modern cloud-based architecture including a new core banking system.


To support our client in platform selection, EPAM Continuum undertook a thorough assessment process.

The assessment included:

  • Analyzing all requirements
  • Workshopping the vendor questionnaire
  • Clarifying responses from the request for information (RFI) process
  • Comparing all the vendors against the requirements

We supported the request for proposals (RFP) process, and ultimately the digital bank chose Mambu as its core banking solution and Microsoft Dynamics 365 as its customer relationship management (CRM) solution.


Once Mambu and Microsoft Dynamics were chosen, we worked to develop a domain-driven migration strategy.

We created different scenarios for how to implement the new solutions by defining work packages and deliverables, identifying dependencies and risks and determining resources.

Then, we presented to the board the various options and the board chose a migration strategy that best aligned with the company’s needs and goals.

We are supporting the transformation program, including program governance, with intertwined work in both advisory and implementation.

On the advisory side, we are facilitating our client’s digital transformation with processes like decision-making, overall planning, reporting, architecture and migration strategy.

On the implementation side, we are providing business analysis, configuration of products, development of domain services, integration to current and new systems, testing and data migration.


The new solutions are being integrated into all the banking workflows, while hundreds of thousands of banking customers are seamlessly moved from old architecture to new, with no interruption or disruption of services.

This modern core banking transformation and cloud migration requires systems thinking to allow technology and strategy to work together in harmony.

As a result, our client will realize a reduction in operational costs, a future-proof architecture that is adaptable to compliance changes, and better agility and time-to-market.

That’s what engineering and advisory can accomplish together



Interested in learning more about our work in financial services?