As the financial markets become saturated, firms find it more difficult to grow revenue.  Best in class financial firms are turning to new markets, new products, and finding new ways to personally serve each client.   SOLOMON Technology Group has worked with some of the largest financial institutions.  Let SOLOMON TG help your organization.

CASE STUDY:

A large banking and trust institution had thirty-one different stand-alone systems, one for each type of bank or trust account.  They found it difficult (if not impossible) to produce a customer profile — a single view of all   holdings for a particular customer.  This presented many customer service challenges, as well as lost opportunities for cross-selling and up-selling.

The project team began by understanding and thoroughly documenting the business requirements.  A development strategy was defined, including stages for vendor package analysis, proof-of-concept and a phased approach to development. 

Using a combination of custom-developed code and 3rd-party vendor tools, a multi-stage process was developed to extract and consolidate data from the various source systems, and load an Operational Data Store (to be used for real-time access) and an Enterprise Data Warehouse (for analysis and reporting).  User access to the data was provided through a “Customer Portal”,  custom designed and developed using Java. 

The architecture and processes were validated and tested through a proof-of-concept, which extracted and loaded data from two different sources systems.  Following the proof-of-concept, the multi-phased development process began, with each phase lasting 3-4 months and targeting one or more source systems to be brought into the data warehouse. 

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