A renowned multinational bank in Hong Kong provides integrated wealth management services to upscale individuals in Asia. Faced with a surging demand in wealth management service reform, the bank's IT department has to redesign the data model of the data warehouse in order to maintain a high quality and efficient solution to support the business.
The Challenge
Following the economy fluctuations in the past few years in Hong Kong, the bank was facing the challenge of a surging demand of their wealth management services, and consequently, their IT department needed to redesign the data model of the data warehouse in order to maintain a high quality and efficient time-to-market solution to support the business.
The Solution
The bank soon approached Axisoft and, without delay, our AGS consultants helped the bank's IT manager to set up an offshore team of 15 members for research and development. We also selected PowerCenter as the tool to handle the complex ETL process for the data warehouse. In the project, the offshore outsourcing team helped the IT department to develop ETL process for the following information.
- Account
- Portfolio
- Transaction
- Cash and asset position
- Securities
- Currency
With the support of our Quality Control team, the outsourcing team was precise on the user requirements and delivered processes capable of handling huge data volume in an acceptable time. Also, quick response and flexible approaches of the outsourcing team ensured a timely delivery of solutions for the data warehouse.
In addition, the outsourcing team provided development support for Business Intelligence by using Business Objects. The BI solutions covered the following aspects which gain competitive advantage to the bank.
- Monitor and control on Investment
suitability
- Global management information system for account
status, net new money, revenue and asset liability
Now resource from the bank's IT department and in-house staff can be switched to new system design, which will in return keep the IT service quality high and ultimately add value to the bank business.
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