Client overview
The client is an American multinational holding company, founded in New York City in 1947. It is listed on the New York Stock Exchange, and as of October 12, 2020, held $1.4 trillion in Assets Under Management (AUM) on behalf of private, professional and institutional investors.
The challenge
The client needed to deliver a digital platform to provide differentiated consumer experience conversion, insights, and improved business results. The client’s digital platform had evolved over 20+ years on a mix of technologies, leading to brittle architecture. Additionally, fragmented and inconsistent capabilities led to restricted business vision and end-user dissatisfaction. Also, there was a high TCO, with maintainability challenges and low time-to-market. Moreover, the client had globally dispersed teams to re-platform and re-architect, leading to restricted vision for about five years.
Decision process & our solution
Mindtree developed a proposal that aligned with the client’s strategic direction and showcased how we deliver the future of digital experiences. Our approach was grounded on a comprehensive understanding of how best in class investment management firms operate, which translated to us helping the client achieve their strategic business objectives:
- To help improve customer experience through delightful and self-servicing capabilities
- To incorporate the intelligence to enable the client to engage with their investors, advisors and shareholders effectively
- To simplify operations through the use of integrated platforms, insights and re-usable assets
Our goal in this partnership was to enable the client to delight its customers through memorable digital experiences. In essence, Mindtree designed a robust digital platform that entices new business and provides advanced investment functions for financial advisors, investors and transfer agency services.
As part of the solution delivered, Mindtree revamped the UX re-engineering of the investor account portal for the US and Europe regions. We designed next generation UX that is simple and intuitive, to enhance the experience of investors and financial advisors. The solution provides self-servicing capabilities for financial advisors and unit holders through accelerated delivery via an Agile and CICD pipeline. As a result, financial advisors are able to self-service individual portfolios, with a size of >$90 million. The solution provides a better omnichannel experience for increased customer engagement across devices through interactive and customizable digital journeys.
Benefits
Mindtree’s solution provided the following benefits:
- Made available a digital platform for financial advisors, investors and transfer agents
- Supported 50K investors and 3000 financial advisors
- Zero defects in prod roll-out
- Easy maintenance of individual portfolio with the size of ~$100 million
- Significant reduction in TCO with 30% cost benefit
- Enriched user experience through responsive web design, thus lowering time-to-market
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