A British Wealth Management Company Leveraged the Denodo Platform to Improve Customer Satisfaction and Business Agility
Customer Company Size
Large Corporate
Region
- Europe
Country
- United Kingdom
Product
- Denodo Platform
Tech Stack
- Amazon Web Services (AWS)
- SQL Server
- Amazon Redshift
- Oracle
Implementation Scale
- Enterprise-wide Deployment
Impact Metrics
- Productivity Improvements
- Customer Satisfaction
Technology Category
- 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
About The 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.
The 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.
The 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.
Operational Impact
Quantitative Benefit
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