A large international investment bank was struggling to utilise its management information (MI) effectively due to the vast number of different legacy systems in operation. The bank called on Brickendon to help consolidate the appropriate information systems, reducing the number of inputs and outputs, and correcting any errors in the collation process.
In the long run, the aim was to roll out the updated information system into all regions that the bank operates, enabling it to cross-reference client and transaction data to better serve clients and generate additional revenue.
The Challenges
- Consolidate vast amounts of detailed client and trading information from a series of different operating systems
- Develop a new database that allows fast and easy access to all cross-company management information
- Remove over-reliance on manual intervention and ensure consistency across departments and regions
- Manage a sizeable project that incorporates vast amounts of trading, personal and sensitive data from multiple trading systems
- Replicate the processes in the same way around the globe
- Change legacy ways of working so that the bank’s employees accept and adapt to the new system
The Brickendon Solution
- Use our highly-skilled and experienced consultants to analyse the existing systems, highlight any outstanding problems and generate new code to systematically align all operating systems across the business globally, regardless of region, product and data type
- Form a standard process for data collection that can be replicated in all regions
- Test the new code to ensure it is accurate and provides timely and useful information
- Ensure the new system allows the identification of all customers making each individual FX transaction, giving the bank an overview of which clients are trading in which areas at what times and at what levels
- Utilise the expertise of individual Brickendon consultants to oversee the project from start to finish
Client Benefits
- Cost-saving and aligning of processes
- Reduction in the number of databases
- Less need for manual intervention
- Economies of scale across the regions and product sets
- Provision of a clear picture of the banking habits of customers, allowing the opportunity to cross-sell products more appropriately to different clients
