A large commercial bank had been losing market share in financial markets due to new electronic markets from competitors.

Their antiquated, closed systems could not provide the functions needed to compete.

Project

The project was to develop an ecommerce strategy and plan with a business and technology focus. It included the design of an open real-time pricing and transaction architecture to integrate to eight legacy back-end systems.  It was a global implementation to eight different countries. 

Result

We designed, built and implemented an open pricing and transaction architecture with new pricing applications. This included open integration to eight legacy systems. Trading and sales management was restructured to take advantage of the new technology.

The project was implemented for 25% of the cost of large vendor systems. Efficiency savings were $1.5 million in preventing historic pricing inaccuracies; the open connectivity saved $1.2 million in development costs.

Revenue and turnover in electronic rose zero to $8 billion per month and the number of clients increased from 30 to 2,530 in 18 months.