Deliver personalization via report automation

Asset Management

Deliver personalization via report automation

A leading asset management firm personalized offerings by automating processes to glean customer insights.

Client

A leading asset management firm based in the U.S.

Goal

Help asset managers deliver personalized solutions to establish differentiation.

Tools and technologies

AquaData Studio, Java, Perl, Python, Spring, Hibernate, VRS, PostgreSQL, Composite and MS SQL.

BUSINESS CHALLENGE

Asset management firms face challenges similar to those faced by most buy side firms – such as a generational shift in the demographic, new patterns of investment behavior, a changing regulatory landscape, and the rise of 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 man-hours

SOLUTION

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 operations efficiency by more than 75 per cent.
  • 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

OUTCOMES

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 for client per month in the data validation activity for client profile management

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