Enterprises worldwide are embarking on modernization journeys to stay relevant in a landscape defined by accelerated digital transformation. For industries like banking and finance, where modernization is urgent yet complex, traditional methods often fall short due to extended timelines, prohibitive costs, and high failure rates. Research highlights that over 70% of modernization efforts either fail outright or exceed budgets and schedules, leaving companies tethered to outdated systems.
But what if there was a smarter, faster way to modernize? That’s where VelX, a leading AI tool, comes into play. Leveraging the power of artificial intelligence, VelX enables organizations to transform at unprecedented speeds, cutting modernization timelines by up to 70% while ensuring scalability, security, and compliance.
This post will explore why modernization is essential, the challenges enterprises face, and how VelX’s innovative, AI-driven approach provides a game-changing solution based on real-world results from the finance sector.
Why Modernization Cannot Wait
The necessity of modernization
Outdated systems and legacy infrastructures are becoming a costly hurdle for enterprises. According to Gartner, 70% of enterprises still rely on legacy systems for critical operations. These systems are increasingly difficult to maintain due to aging technology stacks, a shrinking pool of skilled developers fluent in legacy languages, and rising compliance challenges.
For enterprises in data-intensive industries like banking, outdated software isn’t just inefficient; it’s a risk. Monolithic systems lack the flexibility to meet modern business demands, making tasks such as integrating new digital services or complying with regulatory updates cumbersome. They also hinder customer experience as today’s users expect speedy, seamless interactions across all channels.
Failing to modernize leads to rising IT operational costs, increased downtime, and competitive disadvantage. Yet, traditional modernization approaches have been slow and error-prone, often taking years to achieve marginal progress.
Costs of traditional modernization
Consider financial institutions, which typically operate thousands of bespoke software applications to manage operations, customer accounts, and compliance. A single bank can spend over $80 million annually on legacy modernization projects, with limited progress to show.
Additionally, traditional modernization methods often require months of discovery, design, and code restructuring. These timelines balloon when factoring in manual documentation processes, dependency checks, and bug fixes. For most enterprises, the costs outweigh the perceived benefits, reinforcing a cycle of delayed progress.
How VelX Revolutionizes the Modernization Process
VelX is the AI-driven tool developed by Devsu, designed to streamline modernization and eliminate inefficiencies from traditional workflows. Utilizing cutting-edge artificial intelligence and machine learning, VelX replaces manual analysis with intelligent, automated processes, significantly reducing the time, effort, and cost typically associated with modernization efforts.
Here’s how VelX works and why it delivers unmatched efficiency and precision.
The VelX process
VelX breaks down the modernization process into three core stages, each powered by AI to maximize results.
- Discovery and Analysis with VelX Explorer
VelX begins with an in-depth exploration of your existing systems. The tool scans outdated applications, websites, and CRMs to identify dependencies, vulnerabilities, and technical debts. This process, which typically takes months of manual effort, is completed by VelX in just a matter of days or weeks.
Example outcomes from banking clients include a 90% reduction in time spent during the discovery phase.
- Architecture Optimization with VelX Architect
Once discovery is complete, VelX Architect maps out blueprints for modernization. It identifies areas that require migration or restructuring and provides actionable solutions tailored to your organization’s standards. Whether transitioning to cloud-native architecture or modern codebases like Angular or Java, VelX crafts a seamless path forward while ensuring compliance and scalability.
Key benefit: 60% acceleration of design and planning phases.
- Execution and Deployment with VelX Coder
The final stage focuses on implementing the planned modernization. VelX generates secure, error-free code, flags redundancies, and optimizes workflows for deployment. The human-in-the-loop approach ensures complete accuracy, as engineers collaborate with AI-driven insights to take modernization from planning to production.
Benefit delivered: 40% faster implementation timelines.
Real-world results
For one banking and finance client, VelX reduced modernization timelines from 5 months to just 20 days for a batch of three critical applications. The time savings across discovery, design, and execution transformed the client’s operational landscape, enabling seamless integrations and improving system uptime to an impressive 99.9%.
Additionally, VelX addressed long-standing pain points, including technical debt stemming from decades-old codebases. The client’s IT team estimated overall modernization progress to have improved by 70% compared to traditional methods.
Key Benefits of AI-Powered Modernization
Drastic time and cost savings
VelX eliminates inefficiencies, reducing discovery timelines by 90% and overall project durations by up to 70%. These savings translate directly into cost reductions by minimizing idle downtime and cutting the need for expensive developer hours.
Enhanced scalability and compliance
By automating redundant processes and improving system accuracy, VelX ensures that modernized applications meet the highest standards of security, compliance, and reliability. For industries like banking, this is essential to mitigate regulatory risks and ensure 24/7 operational stability.
Sustainably manage technical debt
A common roadblock to modernization is technical debt, the accumulated inefficiency and obsolescence hidden within outdated systems. VelX’s AI can analyze decades of legacy code in minutes, mapping dependencies, eliminating redundancies, and providing solutions far faster than human analysts.
Why VelX Is the Only Tool Forward-Thinking Enterprises Need
Unlike traditional modernization tools that solve only parts of the modernization process, VelX was purpose-built to deliver comprehensive results across discovery, design, and deployment stages.
VelX does more than speed up timelines. It brings precision and intelligence into modernization efforts, empowering organizations to achieve sustainable and scalable transformations without the high costs or risks of conventional methods.
If your enterprise faces persistent bottlenecks with outmoded systems, VelX could be the competitive edge that propels your transformation to the finish line.
Take the First Step Towards Future-Ready Systems
The time to modernize is now. Delaying action means higher costs, lost market share, and increased risk exposure over time. By adopting future-ready solutions, you can stay ahead in a competitive landscape.
Curious to learn more? Check out our latest blog, The Rise of AI-Native Development and discover actionable insights to drive your success.