Asset management firms face challenges such as a generational shift in the demographic and new patterns of investment behavior. They also face changing regulations, and aggregators with low-cost products who are thinning the pool of investible funds. Our client wanted to differentiate itself by offering customer-centric solutions that are flexible and adaptable. But its existing systems presented several challenges:

• Its front, mid and back office functions needed a lot of manual effort.
• Business rules were inconsistent and data duplication was rampant.
• User experience on the platform needed significant improvement.
• Clients were unable to get a holistic view of their accounts.
• Data validation was consuming a lot of manhours.

We partnered with the asset manager to deliver better digital experiences to all its stakeholders. We created a robust data ecosystem and used advanced technologies such as artificial intelligence/machine learning or AI/ML, intelligent automation, cloud computing and test automation.

• Our team streamlined and integrated the client’s front, middle and back office functions. We helped the client integrate their back-office solutions with their custodians, reducing complexity in information exchange, eliminating reconciliation and increasing operational efficiency by more than 75%.
• We automated the creation of more than 7,000 reports.
• Improved experience for retail and institutional clients by automating the generation of complex compliance and strategic reports.
• Developed a strategic reporting module that gave customers a holistic view of their accounts and holdings.
• Set up a business data validation team offshore.
• Enabled self-service option for bespoke reports.

Our solution helped the client significantly improve front-end experience for customers, reduce manual effort and costs in the back office, and improve overall operations efficiency. Highlights of the outcomes:

• Automated the exhibits process with 75% increase in throughput
• Our report automation solution reduced manual effort by 70% and improved monthly artefact generation throughput by 40%
• Reduced manual effort for customization in client profile management by 60%
• Achieved $50,000 savings monthly in data validation for client profile management