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AI

Constellation Research | How a ‘lift and shine’ migration to AWS set software vendor up for AI

By Larry Dignan

When Abrigo, which provides compliance, credit risk, and lending software for financial institutions, launched a series of new capabilities to its Abrigo AI suite in September this year, the effort was more than a product launch. The additions were the payoff in product velocity as a result of a broader cloud and data transformation.

For Ravi Nemalikanti, chief product and technology officer at Abrigo, the launch of AskAbrigo, Abrigo Lending Assistant, Abrigo’s anti–money laundering assistant, and Abrigo Allowance Narrative Generator highlighted how Abrigo could move much faster than it could two years ago.

“There’s no way we could have been in a position to launch those products back in our previous data center–centric world,” Nemalikanti said. “It was definitely a transformation around cloud, data, customer experiences, and resilience that made this possible.”

Abrigo’s new artificial intelligence (AI) products went from concept to production in six months, three times faster than the process previously would have taken.

And the stakes are high. Nemalikanti said Abrigo is a critical software provider to banks with less than $20 billion in assets as well as credit unions. “If you’re looking at a $15 billion bank or a $1 billion credit union, they don’t have a way to stay ahead of what’s happening or even keep pace,” Nemalikanti explained. “They look to us as an innovation partner. We needed to transform ourselves to be able to help power the transformation for our banks and credit unions.”

In keeping with the trajectory of enterprises such as Intuit and Rocket, taking advantage of the latest in AI required Abrigo to complete foundational steps in the years prior. First, there’s a move to the cloud. Then there’s the data transformation. And if those two foundational elements are lined up, adopting AI at scale is more feasible.

Abrigo decided to move to the cloud in 2022 and then held a bake-off between the big three hyperscalers. Abrigo, a Microsoft shop, decided to go with Amazon Web Services (AWS), in part because the company didn’t want to be tied to software licenses and wanted to use open source technologies, Nemalikanti said. Abrigo, which caters to a heavily regulated industry, has noted that AWS’ approach to building security into development and deployment processes was also a big factor.

Nemalikanti noted that the move to AWS was partly about cost savings, but the real win was velocity and the cultural transformation involved with operating in the cloud. He said that previously product teams would develop software and throw it over to the data center ops team. With the cloud, the approach to software development is more holistic. “Shifting to the SRE [site reliability engineering] mindset across the organization was critical to cultural change,” Nemalikanti said. “Now, if you build it, you own it and run it.”

Using AWS partner Cornerstone Consulting Group, Abrigo moved 100% of its workloads to AWS in 13 months.

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To see the full article, visit Constellation Research, “Abrigo: How a ‘lift and shine’ migration to AWS set software vendor up for AI.”