Business Process Automation Fi-Tek

HedgeTek helps to automate existing manual processes within a short span for a large financial institution

Client Profile A leading global investment banking, investment management and securities firm that provides a wide range of financial services to corporations, financial institutions, governments and high-net-worth individuals.

Problem Definition
The client had a large number of funds that varied in size and complexity with an equally large number of investors. The existing system was unable to handle the huge amount of data that was getting generated each day leading to operational bottlenecks and performance degradation. The firm encountered a lot of production issues. The firm also faced high operational risk due to manual processes. Faced with such a scenario, the client wanted the new automated system to be in place in a short span of time.

Solution Offered

 Given the time constraints and the complexity of implementation, at both technical and functional level, the senior management in both organizations decided to become involved from day one and a multi-pronged plan was put in place in order to ensure project delivery within scheduled time frame. With a keen eye on the project plan, Fi-Tek’s implementation teams set up all the funds with their fully documented rules and converted the history and did a rerun of all the allocations.HedgeTek was able to tune the processes to dramatically improve performance. Workarounds that used to take a significant amount of time were replaced with utilities that virtually eliminated the processing overhead. The users could also address complex tasks in lesser number of steps as the system automated most of the business processes.

Benefits Derived
  •  Faster turnaround time with improved system performance
  • Ease of operations as an automated system led to minimal manual intervention
  • Significant decrease in number of production issues