Participants in the corporate banking industry leverage information technology to perform daily trading operations and build new business capabilities.
Here is how Mindtree helped a North American corporate bank upgrade its IT systems to support revenue growth, increase efficiency and reduce dependency on the IT function.
The challenge
The customer had disparate systems performing daily trading operations. However, these systems gave the customer highly limited options due to their lack of extensibility. For example, system constraints meant that the bank could not process customer investments beyond an arbitrary cap.
Other significant issues were:
- Inability to deal with new investment brokers, because of fixed information in the system
- High dependency on IT support, as the business had to go through a project cycle to add new brokers
- Outdated database technology that needed to be replaced for greater stability and security
- High daily processing time due to disparate systems
- Lack of audit capabilities to ensure compliance
- Lack of single view of customer, leading to poor cross- and up-selling
Our solution
Mindtree collaborated with the customer to draw an approach and roadmap for the implementation of a new platform that would meet its needs. We focused both on resolving urgent short-term issues and equipping the customer with capabilities for long-term growth.
Solution highlights:
- Delivered end-to-end processing capabilities, including for accurate transactions, detailed trade information recording, automated email communication and automated trading account updates.
- Ensured integration with core banking system, data warehouse and trading system
- Enhanced reporting and auditing capabilities
- Enhanced information architecture and usability
- Performed end-to-end testing to ensure data accuracy
- Built a mobile Web application enabling the sales team to view clients' trading positions
Business impact
- Delivered long-term growth readiness through a consolidated platform
- Increased revenue by accommodating more trades and brokers
- Reduced dependency on the IT function
- Reduced time required for operations by more than 50%
- Provided business flexibility to trade with brokers of choice
