Accelerating Performance for a Leading US Financial Firm


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 ProcessGymSM framework and leveraging extensive vertical experience, a comprehensive solution was provided that increased efficiency, enhanced agility, ensured scalability, and reduced costs.

About the Client

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.

Business Challenge

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:

  • Reducing headcount.
  • Obtaining capability to handle volume spike with existing resources
  • Making processes more efficient
  • Transforming to a low-cost environment through offshoring
  • Creating onshore bandwidth to accommodate new customer operations

Our Solution

Using the ProcessGymSM framework existing processes were reviewed and areas of improvement were identified.

The ProcessGymSM Approach

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:

  • Implemented Share Point Workflow and delivered an integrated .NET platform that can assimilate all existing suites of apps
  • Developed operations, transactions, follow-up, management review queues along with dashboards to ensure a single transaction entry platform
  • Created integration points and framework to aggregate peripheral systems
  • Integrated PCWeb transactions within internal applications and SharePoint
  • Enabled electronic transfer of transaction to ACAT/Fund/SERV at the Depository Trust & Clearing Corporation (DTCC)
  • Enriched internal applications with automated interfaces and established them as the core receipts processing system
  • Automated Mutual Fund related operations and integrated MF Letter, MFD, DST Vision, Fund/SERV, and Advisor Central resulting in significant reduction in follow-up items and other manual processing

Delivering More Value

  • More Efficiency: Deployment of Operations/ Workflow platform and application integration led to an efficiency increase of 28%.
  • More Cost Savings: Significant cost savings were generated for the client through offshore movement of various processes that didn’t need to be kept onsite
  • More Scalability: The solution enabled the client with the capability to easily increase its output as and when needed
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