Integration Modernization Enables ROI for Major Acquisition

Our client is a US-based, multinational financial services and investment management company (FSM). We’ve provided technology solutions to them for over a decade.

Our Client

Challenge

Our client recently acquired a digital, self-directed stock trading platform company (DTP) so they could broaden their position across the wealth management industry. That is, FSM wants to successfully engage a portfolio of customers who were not previously part of their “ecosystem.” FSM wants a predictable outcome for this business strategy, which is dependent upon integrating DTP.

Gunjan Goel leads Prolifics’ banking and financial services practice and has worked with FSM for 10 years. “When a company like FSM engages an outside consulting provider like Prolifics, it’s because they need to dial up and dial down fast on technical expertise that they don’t have in-house, for example, integration, data and analytics. Getting DTP integrated into the ecosystem and converting their customers for upsell and cross-sell is the way FSM is going to make this acquisition work. Because the only way to maximize investment returns is to steer the transformation as planned. As FSM combines and integrates DTP, if they’re shortsighted on technology, if it doesn’t work right or it’s ‘clunky,’ they risk having customers move their business elsewhere.”

Therefore, the overall challenge for FSM is to ensure the implementation of the right technology solutions that will help them realize the value of their DTP investment.

Action

Bringing DTP into the FSM ecosystem is an ongoing, multi-year, multi-million-dollar undertaking involving a myriad of technology providers. Goel breaks down the way he and Prolifics work with FSM to get our expertise in the right places at the right time.

• “There’s a lot of homework to do; a lot of intel to figure out and work on. We’re constantly reading and researching the financial services industry to understand what the trends and patterns are, and the whys and why nots. We bring this thought leadership to help innovate and leapfrog the competition.”
• “We’ve worked with our client for 10 years, so we have a solid network in place. I know, or make it a point of meeting, the FSM people leading this transformation. I talk with four or five people almost every day, understanding their initiatives, brainstorming our value proposition and chalking out ways to partner. We help the client unleash the value of collaborative agile culture.”
• “Then it’s about being honest about things that we do well, and things that we don’t – where do we resonate, and where do we not? We work alongside our clients to proactively identify delivery risks, manage through impending crisis and put skin in the game for mutual success. We understand the current competition, vendors and incumbents. We understand the landscape and go for what we know will give our client the best solutions possible. We help our clients avoid pitfalls, breakthrough with targeted MVP efforts and improve speed to market.”
• “We work with the decision-makers to help structure the processes and how specific initiatives need to be run. So, by knowing the business, knowing what’s happening, focusing on it, bringing the expertise together, Prolifics helps the FSM map out tangible measurable outcomes.”

Result

Prolifics is utilizing a wide range of technologies and expertise with FSM projects, which include:

• Providing business analysis, defining processes and set up infrastructure to help integration of DTP and FSM business clients into common platforms.
• Moving massive amounts of data that form the backbone for effective business outcomes.
• Building applications across middle-office and back-office operations such as money movement and trade corrections, to support the new landscape of the integrated FSM and DTP businesses.
• Assisting in building out reporting capabilities, such as for the finance group.
• Assisting in moving FSM’s contact center to the cloud, including consolidating client data and various data streams that enables more efficient business decisions.

Goel said, “We are, on a daily basis, helping our client realize their business strategy.”

You can connect with Gunjan Goel at gunjan.goel@prolifics.com.

About Prolifics

Prolifics is a global digital engineering and consulting firm helping clients navigate and accelerate their digital transformation journeys. We deliver relevant outcomes using our systematic approach to rapid, enterprise-grade continuous innovation. We treat our digital deliverables like a customized product – using agile practices to deliver immediate and ongoing increases in value.

We provide consulting, engineering and managed services for all our practice areas — Data & AI, Integration & Applications, Business Automation, DevXOps, Test Automation, and Cybersecurity across multiple industries — at any point our clients need them. Visit prolifics.com or email solutions@prolifics.com to learn more.