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Wealth Management Platform Transformation,creating Nextgen platform enabling a Single Customer View for performance tracking & benchmarking.

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Overview.

Coforge is a partner on the development of this client’s next generation Wealth Management Solution, with more than a 25+ year of relationship.  

  • Besides supporting the client on their legacy platform, Coforge has partnered on the development of their next generation Wealth Management Solution using Scaled Agile Framework for the Enterprise (SAFe®) over last 8+ years.
  • Client was on an iterative
  • Parallel dev across multiple teams needing substantial Infra requirements, multiple code branches 
  • Complex deployment process
  • Long time to market with not enough business value from the releases. 

Business Objectives 

  • Profiling of prospects  
  • Tools for new client acquisition.  
  • Enabling advisors with relationship-based view  
  • Comprehensive metrics reporting related 
  • Configuring Assets on different platforms 
  • Enabling alternate charging model 

Solution Scope 

  • To create a SaaS Product platform 
  • API based subscription model 
  • Mobile front end for Investor Experience 
  • Data integration for 3rd party platforms 
  • Reporting and analytics 

Challenges.

Mapping business objectives to design 
  • Goal based investing 
  • Holistic view of investor wealth 
  • Single customer view
Solution architecture 
  • SaaS based platform with ability to charge fees on services / products instead of on a percentage commission basis 
  • Configuring Assets (Instruments) in different platforms, review pricing, monitor data feeds, setup asset distribution across client platforms.  
  • Build vs Buy 
  • Scale: 7000+ Advisors; 80+ Banks; 130 stock exchanges; 41 countries covering 43 currencies 

Solution

SEI partnered with Coforge to move to SAFe which aligned their portfolio and programs by value streams.  
 
They started meeting their goals of delivering higher value business results in a shorter delivery cycle. Empowered teams to interact directly from business. 
 
Overall Structure  
  • 4 large Agile Release Trains (ARTs) of 200-250 each 
  • RTEs, Senior/ Scrum Masters, Product Owners 
  • Shared Services – Enterprise System Testing, Performance Testing and User Acceptance Testing 
  • Shared Services - Tech Infra, Tech Ops, Release management, Data Migration and Implementation  
Our Engagement   
  • Distributed teams across US, India, UK and Canada 
  • 220+ associates in ARTs and 210+ in Shared Services 
  • 15+ Scrum teams, 5+ Scrum Masters, 6+ Product Owners 
 
Distributed Agile Delivery Model 
  • Potentially Shippable Increments (PSI) of 17 weeks 
  • Sprint duration of 2 weeks within PSI Dev cycle 
  • Single code branch release  
Distributed Agile pods 
  • Team-Zero interface between Product Management and Scrum teams consisting of Product Owner, Tech Lead and QA (Grooming) 
  • Proxy SMs and POs offshore, Tech Leads onsite (mirror offshore Tech lead) 
  • Travel onsite for leads during PSI planning and grooming 
  • Capacity planning adjustment during mid-PSI 
  • Test Strategy, architecture and design joint reviews 
  • Common release, warranty support staffing onsite 
 
Quality
  • 3 Sigma Quality consistently over last 20+ PSIs (5+ years) 
  • Coforge is the only partner/ ART to achieve 3 sigma consistently 
  • 100% compliance ODC, clean rooms, network connectivity 

The Impact

40% reduction in development cost using Open-source technologies  Reduced operating cost by 35% through automation High Performance through-put Highest client satisfaction score in Net Promoter score

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Let’s Coforge your next success story.

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