Executive Summary
A leading Japanese financial institution was running into trouble when servicing its exotic (nontraditional) portfolios, which are complex to price and structure. The firm’s legacy reporting processes were unable to handle this complexity. Frequent breakdowns and delays hindered the client’s ability to provide analysis and decision-making insights to its end customers, both institutional and individual. Mindtree analyzed the client’s processes and implemented parallel computing on GRID and load sharing with Murex. As a result, the company gained a 60% to 65% improvement in reporting time for exotic portfolios, a 40% improvement in decision-making time, a 99% decrease in system failures and increased computation performance, in addition to a range of other benefits that improved data management across the enterprise.
About the client
The client is a leading diversified Japanese financial institution that provides a full range of financial products and services to both institutional and individual customers. Services offered by client include retail banking, institutional banking, and consumer and commercial finance.
The Challenge
The client was facing continuous reporting breakdowns and experiencing long cycle times for Murex reporting of exotic portfolios, extending up to 12-14 hours. The delays in the analysis negatively impacted their trading, hampering agile and nimble decision-making.
The client wanted to improve the reporting time for its portfolio simulation process to strengthen its trading analysis and decision-making capabilities. It also wanted to enhance productivity and operational efficiency, while reducing the risk of non-compliance during business hours as well as on Murex end-of-day (EOD) reporting.
Our solution
Mindtree analyzed the existing reports and the client’s reporting processes at length, and proposed an appropriate strategy to combat the challenges. Our team architected a solution design that enabled parallel computing on GRID with Murex, leveraging deal scanner engines and GRID solution Murex Parallel Computing (MPC). We also enabled load sharing with Murex through load balancers.
Results
Mindtree’s solution enabled seamless integration with the existing system, leading to several measurable business benefits including:
Enhanced productivity and operational efficiency
- 60% to 65% improvement in reporting time for exotic portfolios, leading to higher process efficiency.
- 40% improvement in decision-making time with increased computation performance
- 99% decrease in system failures caused by over CPU utilization during computing.
Reduced risk of non-compliance
- Improved data management to achieve high level of compliance.
- Seamless reporting, including end-of-day report generation.
- Timely and accurate data reporting to boost trader productivity.
Future-proof operations due to high scalability
- Ability to support horizontal and vertical growth at optimal costs.
- Superior process efficiencies, enabling significant reduction in time taken for reporting.
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