As one of the largest managers of financial assets in the UK, this InterSystems client has worked hard to build a reputation for financial security and investment success for over 150 years. However, they recognize that longevity alone is no guarantee of future growth.<\/p>\n
\u201cWhile our experience and stability are vital assets, we know that our reputation can only be maintained by providing the highest standards of service,\u201d says the company\u2019s IT Manager. \u201cWhether the markets are performing well or poorly, providing customer satisfaction is always our first priority.\u201d<\/p>\n
Therefore, one of the firm\u2019s key performance indicators is the way that it manages the huge volumes of data that it presents to its institutional investors. With this focus on customer service in mind, the IT department identified its operational database as an area where significant, measurable value could be added to the business.<\/p>\n
The legacy system was highly reliable and robust, but its inflexibility made it difficult to tackle compliance issues \u2013 which also led to a growing administrative burden. \u201cAs our business grows, so does the amount of data processing, which also leads to pressure on work schedules,\u201d says the IT Manager. \u201cAdded to this, we have an ongoing requirement to meet external legal and regulatory business mandates from the Financial Services Authority.\u201d<\/p>\n
After consulting with InterSystems, the client concluded that they could achieve all the application and data integration that was required by implementing InterSystems technologies. A high performance object database provides many database interfaces, including industry-standard ODBC and JDBC, and Web-based interfaces, for more efficient data import, export and user presentation.<\/p>\n
\u201cInterSystems technology met all our technical criteria,\u201d says the IT Manager. Originally, the applications ran on a reliable but old HP VMS operating system. The upgrade enabled the company to migrate to a Linux-based platform, reducing costs and providing flexible options for deployment and management.<\/p>\n
\u201cThere were some very attractive price and performance benefits for the Linux migration. At the same time, the upgrade enabled us to take advantage of new capabilities. These included application developer productivity features. Also, Web service authentication enhancements and XML performance improvements were important for security, and meant that users would see their Web-based applications run faster,\u201d says the IT Manager.<\/p>\n
\u201cThe migration went without incident. Even though InterSystems Worldwide Response Center was placed on alert for the go-live weekend, its assistance was not required even once.\u201d<\/p>\n
Since the introduction of InterSystems technology, the firm\u2019s use of application and system interfaces to seamlessly exchange data with other applications \u2013 especially Web-based \u2013 has grown dramatically.<\/p>\n
\u201cA large proportion of our business is based around institutional investment, so it is imperative that we provide these customers with the relevant information in an effective way. InterSystems technology enables us to provide accurate, up-to-date pension fund valuations to our institutional investors \u2013 which is why we view it as an integral part of our client satisfaction programme.\u201d<\/p>\n
As well as providing information to investors, the customer is also compelled to provide information to the Financial Services Authority, the independent UK regulator.<\/p>\n
\u201cIt is now much easier for us to manage massive amounts of data, and respond to requests from financial market regulators in a timely and cost-effective manner,\u201d says the IT Manager.<\/p>\n
Since installing InterSystems technology, our client has seen a level of performance improvement that has significantly reduced processing times and helped to prolong the life of existing hardware, thereby delaying further capital investment.<\/p>\n
\u201cWe have high expectations for where our partnership with InterSystems will take us in the future,\u201d says the IT Manager.<\/p>\n