Companies operating in the financial industry face intensive manual processes, critical dependencies on multiple counterparties, and street/firm-side representatives, and distributed complex applications. These factors result in huge operational costs and inefficiencies. The client approached us to gain the capability to handle volume spikes without additional resources and costs. Utilizing ProcessGymSMframework and leveraging extensive vertical experience, a comprehensive solution was provided that increased efficiency, enhanced agility, ensured scalability, and reduced costs.
Based in US, the client provides investment processing, fund processing, and investment management business outsourcing. The company operates in different market segments: Private Banking and Trust, Investment Advisors, Enterprises, Money Managers, among others.
The client was facing challenges in dealing with volume spikes and approached us to gain more efficiency without adding additional resources. The constraint that no significant architectural changes be made to the existing suites of applications posed an additional challenge. The following business objectives were to be achieved:
Using the ProcessGymSM framework existing processes were reviewed and areas of improvement were identified.
The ProcessGymSM Approach
An integrated platform that can aggregate screens, reports, rules, and workflows was delivered. This ensured a single transaction entry platform that provides a consolidated view of Automated Account Transfer and Tracking (ACAT) and non-ACAT batches. Straight-through processing (STP) was enabled by using automation to eliminate manual hand-offs and frequent quality assurance (QA). Process Cycle Efficiency (PCE) was increased using end-to-end automation. The key highlights of the solution were:
With deep understanding of free movement operations and technology needs and vast experience in assisting wealth platform and service providers in automating free receipts and delivery operations, compelling business benefits were delivered. Our solution increased efficiency, provided cost and time savings, and ensured scalability.