As a venerable institution within the African financial sector, Old Mutual Limited holds a rich 179-year history, offering a comprehensive array of financial products to its clientele across 14 nations. In a bid to stay relevant in the digital age, the company embarked on a transformative journey in 2017, seeking to enhance its business strategy through technological innovation. This goal was challenged by the legacy systems and architecture that were in place.
Embracing the need for modernization, Old Mutual undertook a significant overhaul of its technology infrastructure. This transition led to a consolidation of its physical data center assets and an embrace of Amazon Web Services to rejuvenate its life insurance and wealth management systems. According to Group CIO May Govender, this shift has been pivotal in accelerating the company’s transformation.
“Our organization’s age implies inherent complexities and hurdles,” Govender states. “Nonetheless, the most thrilling progress in the past three years is the simultaneous digital and personnel evolution within Old Mutual.”
Old Mutual’s rapid progression is particularly notable within the insurance sector, an industry not commonly associated with swift adaptation and execution. “To realize our goals, we recognized the importance of a dual approach: addressing current difficulties while establishing a robust foundation, and concurrently envisioning and preparing for our future. The move to cloud computing is a strategic step towards constructing a future that is in harmony with our long-term objectives,” elaborates Govender.
