MODERNIZING MAINFRAME WORKLOADS IN BANKING: EMBRACING THE POWER OF HYPERSCALERS

Abstract

This article explores the critical challenge faced by banks in modernizing their mainframe workloads while maintaining reliability and performance. It examines the growing importance of mainframe modernization in the banking industry, highlighting the contrast between legacy systems and modern cloud infrastructure. The article discusses the emergence of hyperscaler platforms as a solution to bridge this gap, offering banks the opportunity to modernize without abandoning their mainframe investments. It delves into the challenges of legacy system modernization, the benefits of adopting a hybrid cloud approach, and strategies employed by leading financial institutions. The article also focuses on the Israeli context, examining the government's strategic move towards a hybrid cloud model and the significant growth in the country's cloud computing sector. It concludes by emphasizing the importance of balancing innovation with regulatory requirements and security concerns in the banking sector's digital transformation journey.