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Tuesday 22 November 2016

LBB Fedr8 – Accelerating Cloud Adoption

logoCompanies looking to move to Cloud Platforms often face the massive task of migrating hugely complex bespoke applications. This is especially the case for established banks which typically have many thousands of applications of various vintages. Fedr8, founded in 2012, enables companies to forensically analyse the source code underlying an application. Mapping out its functions and inter-dependencies then allows key components of the code to be extracted and to be deployed in a more efficient cloud-based environment.

The proprietary Fedr8 system offers significant advantages over how this work has been attempted before. It uses machine learning techniques to complete the analysis in hours, rather than taking many man-days of effort. The analysis will also get more efficient and accurate as it gains more “experience”. Inefficient code can be eliminated, making the move to cloud even more cost-effective. The customer will then be able to build a clear view of the costs, priorities and the risks of the migration process.

lbbFarnborough-based, 12-man, Fedr8 has until now been running Proofs of Concepts with several prospective customers but we understand that one large bank has now signed a significant contract. The experienced management team, led by CEO Damion Greef and CTO Rhys Sharp, are also actively building partnerships with key System Integrators. These partners will prove to be the most important route to market, extending the reach of the Fedr8 system into global markets.

Banks are now embracing the move to cloud and the underlying technology is mature enough to support their systems. Crucially, the regulator is now looking favourably upon cloud deployments. Fedr8 supplies an important piece of the jigsaw to enable the sector’s transformation. We expect this Little British Batter to generate substantial, and highly profitable, growth as a result.

Posted by Peter Roe at '07:24' - Tagged: cloud   software   legacy   banking