Swetha Lakkaraju
Independent Researcher
Irving, Texas, United States
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Swetha Lakkaraju is an experienced IT professional with 18 years of expertise in mainframe-based core banking systems, credit card processing, and financial services technology. She has specialized in Systematics (SI) and Visionplus platforms, delivering high-impact solutions across banking and consumer finance domains.
Swetha currently serves as a Project Lead at Tech Mahindra Americas (Mar 2024 - Present), where she leads a conversion initiative for Citibank Commercial Banking, designing scalable interfaces, coordinating global teams, and implementing automation strategies that reduced manual testing by 30%.
Previously, she worked as a Senior Software Engineer at Narwal Inc. (Aug 2022 - Jan 2024) for FIS Global Services (BMO), spearheading the Bank of the West to Bank of Montreal conversion project. Her responsibilities included designing cost-optimized solutions, developing data migration programs, and automating testing processes to improve efficiency by 25%.
Before that, Swetha spent 12 years at Tech Mahindra (Nov 2010 - Aug 2022) in multiple roles, including Tech Manager, Team Lead, and Project Lead, delivering critical enhancements for Citigroup’s core banking systems using Systematics modules (IM, ST, RM). She ensured production stability, managed offshore teams, and played a key role in change management and release operations. Her earlier contributions at Tech Mahindra include compliance testing for RBTT (Royal Bank of Trinidad & Tobago) and implementing 28 regulatory fixes for credit card modules.
Swetha began her career at GE Money Japan (2008-2010), where she provided production support and optimized performance for Visionplus-based credit card processing systems. She successfully tuned batch jobs, improved SLAs, and supported disaster recovery operations.
Technically proficient in COBOL, JCL, CICS, DB2, VSAM, and tools like Control-M, CA-Intertest, and Changeman, Swetha also brings expertise in REST API integration with mainframe systems. She holds a B.E. in Computer Science & Engineering from Osmania University and is recognized for her leadership in delivering zero-incident operations, automation-driven efficiency, and client-focused solutions.
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Modernizing Core Banking: Modular Strategies that Drive Speed, Savings, and Scalability
Legacy core banking systems continue to constrain innovation, consuming over 75% of IT budgets and limiting banks’ ability to compete with digital-native institutions. The path forward lies in decoupling monolithic architectures and transitioning to modular, service-oriented systems that enable agility, scalability, and faster time-to-market.
Global research across more than 300 banking institutions reveals that modernization through decoupled architectures delivers dramatic outcomes including a 3x increase in deployment frequency, 40% lower total cost of ownership, and nearly 77% faster product launches. Approaches like the Strangler Pattern and domain-driven design have proven to accelerate transformation while maintaining business continuity, reducing outages by 70% and integration defects by over 40%.
In this session, financial technology leaders will learn how to design and implement modular modernization strategies that achieve 3.2x ROI, reduce operational complexity, and create a foundation for continuous innovation. Through real-world implementation insights, we’ll explore how API-driven ecosystems, microservices architectures, and composable core banking enable institutions to modernize securely, efficiently, and at scale.
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