Denodo Technologies Case Studies A British Wealth Management Company Leveraged the Denodo Platform to Improve Customer Satisfaction and Business Agility

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	A British Wealth Management Company Leveraged the Denodo Platform to Improve Customer Satisfaction and Business Agility Denodo Technologies

A British Wealth Management Company Leveraged the Denodo Platform to Improve Customer Satisfaction and Business Agility

Denodo Technologies

Technology Category	Infrastructure as a Service (IaaS) - Cloud Computing Platform as a Service (PaaS) - Data Management Platforms
Applicable Industries	Finance & Insurance
Applicable Functions	Business Operation
Use Cases	Regulatory Compliance Monitoring
Services	Cloud Planning, Design & Implementation Services Data Science Services
Challenge	The British wealth management firm was facing challenges in complying with rapidly changing EU and UK regulations related to the financial market. The company's data landscape was fractured with an on-premises legacy data warehouse, a substantial presence on Amazon Web Services (AWS) Cloud, and other apps in the cloud, such as Power BI, Salesforce, and Snowflake Cloud Data Warehouse. The company needed to prepare for the Markets in Financial Instruments Directive (MiFID) II, which calls for increased cost transparency, improved record keeping for transactions, and added protection for investors. The company also realized that many of the data sources were separated into silos, which meant that many reports required time-consuming data integration efforts, increasing development time. Read More
About Customer	The customer is one of Europe’s largest wealth management companies, boasting more than $20 billion of client’s funds under management. They are known for providing highly personalized face-to-face services to their clients. The company supports its dedicated distribution network – the Partnership – with a distinctive investment management approach and a diverse range of products and services. The company had to start preparing for the Markets in Financial Instruments Directive (MiFID) II regulation so that it could comply with it in time. The company also took a hard look at its cloud infrastructure, and realized that many of the data sources were separated into silos, which meant that many reports required time-consuming data integration efforts, for an increase in development time. Read More
Solution	The company implemented the Denodo Platform to create virtual data marts. The data from these virtual data marts becomes annual regulatory reports for their end clients, which contain a summary of the client's costs and charges data. This annual customer report is the biggest mailing that the company sends out, and all the data for it comes from the Denodo Platform. The company has multiple other data assets in AWS. This data landscape in the cloud contains multiple databases, such as SQL Server, Amazon Redshift, and Oracle. These different databases contain data on the company's different financial products. All of this data is consumed by the Denodo Platform and is exposed to the printing engines in XML format. The Denodo Platform also enabled the wealth management firm to migrate from on- premises systems to the AWS cloud environment without affecting business continuity in any way. Read More Log in to view content
Contents

Technology Category

Infrastructure as a Service (IaaS) - Cloud Computing

Platform as a Service (PaaS) - Data Management Platforms

Applicable Industries

Finance & Insurance

Applicable Functions

Business Operation

Use Cases

Regulatory Compliance Monitoring

Services

Cloud Planning, Design & Implementation Services

Data Science Services

Challenge

The British wealth management firm was facing challenges in complying with rapidly changing EU and UK regulations related to the financial market. The company's data landscape was fractured with an on-premises legacy data warehouse, a substantial presence on Amazon Web Services (AWS) Cloud, and other apps in the cloud, such as Power BI, Salesforce, and Snowflake Cloud Data Warehouse. The company needed to prepare for the Markets in Financial Instruments Directive (MiFID) II, which calls for increased cost transparency, improved record keeping for transactions, and added protection for investors. The company also realized that many of the data sources were separated into silos, which meant that many reports required time-consuming data integration efforts, increasing development time.

About Customer

The customer is one of Europe’s largest wealth management companies, boasting more than $20 billion of client’s funds under management. They are known for providing highly personalized face-to-face services to their clients. The company supports its dedicated distribution network – the Partnership – with a distinctive investment management approach and a diverse range of products and services. The company had to start preparing for the Markets in Financial Instruments Directive (MiFID) II regulation so that it could comply with it in time. The company also took a hard look at its cloud infrastructure, and realized that many of the data sources were separated into silos, which meant that many reports required time-consuming data integration efforts, for an increase in development time.

Solution

The company implemented the Denodo Platform to create virtual data marts. The data from these virtual data marts becomes annual regulatory reports for their end clients, which contain a summary of the client's costs and charges data. This annual customer report is the biggest mailing that the company sends out, and all the data for it comes from the Denodo Platform. The company has multiple other data assets in AWS. This data landscape in the cloud contains multiple databases, such as SQL Server, Amazon Redshift, and Oracle. These different databases contain data on the company's different financial products. All of this data is consumed by the Denodo Platform and is exposed to the printing engines in XML format. The Denodo Platform also enabled the wealth management firm to migrate from on- premises systems to the AWS cloud environment without affecting business continuity in any way.

Impact #1	The Denodo Platform enabled the company to reduce the time required to deliver its complex, demanding reports.
Impact #2	The company appreciated the flexibility afforded by the Denodo Platform.
Impact #3	The Denodo Platform made it considerably easier for the wealth management company to maintain compliance with the stringent requirements of MiFID II.

Impact #1

The Denodo Platform enabled the company to reduce the time required to deliver its complex, demanding reports.

Impact #2

The company appreciated the flexibility afforded by the Denodo Platform.

Impact #3

The Denodo Platform made it considerably easier for the wealth management company to maintain compliance with the stringent requirements of MiFID II.

Benefit #1	The Denodo Platform reduced the company's five-day annual wealth accounting process to a one-day process.

Benefit #1

The Denodo Platform reduced the company's five-day annual wealth accounting process to a one-day process.

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Overview

A British Wealth Management Company Leveraged the Denodo Platform to Improve Customer Satisfaction and Business Agility

Operational Impact

Quantitative Benefit