Harvard Case - LGB Bank: Composite Microservices in a Large Global Bank (A)
"LGB Bank: Composite Microservices in a Large Global Bank (A)" Harvard business case study is written by Alan Megargel, Christopher M. Poskitt. It deals with the challenges in the field of Finance. The case study is 10 page(s) long and it was first published on : Dec 12, 2021
At Fern Fort University, we recommend LGB Bank adopt a phased approach to implementing composite microservices. This strategy involves prioritizing key business functions, starting with a pilot project for a specific service, and gradually scaling up the implementation across the bank. This approach allows for continuous learning, risk mitigation, and optimization of the microservices architecture.
2. Background
LGB Bank, a large global financial institution, faces challenges with its legacy IT infrastructure, hindering agility and innovation. The bank aims to leverage the potential of composite microservices to enhance its digital capabilities, improve customer experience, and achieve operational efficiency. The case study explores the complexities of implementing this transformative technology within a large and established organization.
The main protagonists are:
- David Miller: Head of Technology, responsible for leading the digital transformation initiative.
- Sarah Jones: Head of Retail Banking, advocating for improved customer experience through digital channels.
- John Smith: Head of Corporate and Investment Banking, emphasizing the need for enhanced risk management and compliance.
- The IT team: Responsible for designing, developing, and implementing the microservices architecture.
3. Analysis of the Case Study
This case study can be analyzed through the lens of technology adoption, organizational change management, and risk management.
Technology Adoption:
- Benefits: Microservices offer numerous advantages, including increased agility, scalability, and resilience. They enable faster development cycles, independent deployments, and improved fault isolation.
- Challenges: Implementing microservices requires significant investment in infrastructure, talent, and process changes. The complexity of managing multiple services, ensuring data consistency, and maintaining security presents challenges.
Organizational Change Management:
- Resistance to Change: Legacy systems and entrenched processes can create resistance to adopting new technologies. Employees may be hesitant to embrace new tools and workflows.
- Communication and Training: Effective communication and training are crucial to ensure buy-in and support for the microservices initiative. Employees need to understand the benefits and the impact of the change.
Risk Management:
- Security Risks: Microservices architecture introduces new security vulnerabilities, requiring robust security measures to protect sensitive data.
- Data Consistency: Maintaining data consistency across multiple services is critical, requiring careful design and implementation of data management strategies.
- Performance and Scalability: Ensuring optimal performance and scalability of the microservices architecture is essential for delivering a seamless customer experience.
4. Recommendations
- Phased Implementation: Begin with a pilot project for a specific service, such as online account opening or loan application processing. This allows for testing and refinement of the microservices architecture before full-scale deployment.
- Prioritize Key Business Functions: Focus on services that have the greatest impact on customer experience, operational efficiency, or revenue generation. This ensures a tangible return on investment and builds momentum for further adoption.
- Develop a Comprehensive Strategy: Establish a clear vision, goals, and roadmap for the microservices implementation. This includes defining the scope, timelines, resources, and key performance indicators (KPIs).
- Build a Skilled Team: Invest in training and development for the IT team to acquire the necessary skills in microservices architecture, containerization, and cloud computing.
- Foster Collaboration: Encourage cross-functional collaboration between IT, business units, and stakeholders to ensure alignment and address potential conflicts.
- Implement Robust Security Measures: Prioritize security throughout the design, development, and deployment phases of the microservices architecture. This includes access control, data encryption, and threat monitoring.
- Monitor and Evaluate Performance: Regularly track key performance indicators (KPIs) to measure the impact of microservices on customer experience, operational efficiency, and profitability. This data will inform future decisions and optimize the architecture.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core Competencies and Consistency with Mission: Adopting microservices aligns with LGB Bank's mission to enhance its digital capabilities and provide innovative financial solutions to customers.
- External Customers and Internal Clients: The recommendations prioritize customer experience and operational efficiency, benefiting both external customers and internal clients.
- Competitors: By adopting microservices, LGB Bank can stay ahead of the competition in the evolving digital landscape.
- Attractiveness - Quantitative Measures: The phased implementation approach minimizes risk and allows for continuous evaluation of the return on investment (ROI).
- Assumptions: The recommendations assume that LGB Bank has the necessary resources, expertise, and commitment to successfully implement the microservices architecture.
6. Conclusion
LGB Bank's adoption of composite microservices presents a significant opportunity to transform its IT infrastructure and enhance its competitive advantage. By implementing a phased approach, prioritizing key business functions, and fostering collaboration, LGB Bank can successfully leverage the benefits of microservices, improve customer experience, and achieve operational excellence.
7. Discussion
Alternatives Not Selected:
- Full-scale immediate implementation: This approach carries a higher risk of failure and may overwhelm the IT team.
- Outsource the entire project: This option may lack control and flexibility, potentially hindering the bank's long-term digital transformation goals.
Risks and Key Assumptions:
- Technical challenges: The complexity of managing multiple services and ensuring data consistency could lead to unforeseen technical issues.
- Talent acquisition: Finding and retaining skilled IT professionals with microservices expertise can be challenging.
- Cost overruns: The implementation of microservices can be expensive, requiring significant investment in infrastructure, talent, and training.
Options Grid:
| Option | Benefits | Risks | Assumptions |
|---|---|---|---|
| Phased Implementation | Reduced risk, gradual learning, optimized for specific needs | Slower adoption, potential for delays | Adequate resources, skilled team, commitment to change |
| Full-scale Immediate Implementation | Faster time to market, potential for greater impact | Higher risk of failure, potential for cost overruns | Significant resources, experienced team, robust change management |
| Outsource the entire project | Reduced internal workload, access to specialized expertise | Loss of control, potential for vendor lock-in | Reliable vendor, clear contractual agreements, effective communication |
8. Next Steps
- Pilot Project: Launch a pilot project for a specific service within the next 6 months.
- Build the Team: Hire or train the necessary IT professionals within the next year.
- Develop a Comprehensive Strategy: Finalize the microservices strategy and roadmap within the next 3 months.
- Secure Funding: Secure the necessary budget for the implementation within the next 6 months.
- Monitor and Evaluate: Regularly track KPIs and adjust the strategy as needed.
This phased approach allows LGB Bank to manage risk, learn from experience, and optimize the implementation of composite microservices for long-term success.
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Case Description
This case study is organised into four parts (A through D), meant to be read and discussed progressively. Jane Blanston, a newly hired Enterprise Architect at LGB Bank, had developed over her career a specialisation in Service-Oriented Architecture (SOA). Prior to joining LGB, she had recent successes in a smaller regional bank where she had replaced its outdated batch-mode file transfer style of integration with a real-time SOA style of integration. This provided the bank with a more flexible architecture and an abstraction layer which enabled the bank to make large scale changes in the backend (e.g., a core banking system replacement) with minimal impact to the bank's front-end banking channels (e.g., internet banking). Furthermore, with an SOA in place, the bank had the ability to rapidly assemble new solutions by reusing existing services. Blanston was headhunted by LGB and offered a job based on her expertise in SOA and reputation as a problem solver. LGB specifically wanted her to review its current microservices-based architecture (a subset of SOA) and to propose an improved architecture which emphasised service reuse, like what she had implemented in the past. Even though LGB was a larger bank with larger integration problems, She decided to take up the challenge. She accepted the job offer to join LGB's technology department based in Singapore.
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