Scaling Growth: How Coforge Empowered a Top Broker-Dealer to Double Its Advisor Network
Overview.
This case study explores how Coforge helped a leading North American broker-dealer, with over 24,000 advisors, achieve its ambitious growth goals. The client faced challenges with its legacy advisor application system, hindering its ability to onboard new advisors efficiently.
Limited Scalability: The existing advisor application system, built on third-party APIs, lacked scalability to support the client's aggressive growth plans.
Slow Development Cycles: High vendor dependency and complex logic resulted in long development cycles for new features.
Data Inaccuracy & Slow Response Times: Inaccurate data and slow response times hampered the user experience and onboarding process.
Solution.
Coforge implemented a comprehensive solution to transform the client's advisor application system:
Domain-Driven Design: Coforge leveraged domain-driven design (DDD) principles to identify core functionalities and separate them from legacy components.
Microservices Architecture: A scalable microservices architecture was implemented using serverless APIs hosted on AWS cloud.
API Marketplace: Coforge created a dedicated API Marketplace to enable innovative pricing and service delivery models for future expansion.
The Impact
Coforge's solution delivered significant and multifaceted benefits to the client. A new revenue stream was established through the creation of an API Marketplace, opening monetization opportunities. Time-to-market was drastically reduced, with complex integrations now going live in just two weeks. The client achieved substantial digital transformation, evidenced by improved inter-application communication and streamlined business capabilities.
Cost savings were realized through the decommissioning of legacy technologies such as Tibco. The new solution also enhanced maintainability with highly maintainable APIs and a reduced server footprint. Finally, operational costs were decreased through the implementation of offshore post-production support, further optimizing the client's financial efficiency.
Is your legacy application hindering your growth plans? Contact Coforge today to unlock the power of cloud-based solutions and achieve your business goals.
