Advisory solution at a Private Banking and Asset Management Group

Background

The banking world is constantly challenged by new and enhanced regulatory and compliance requirements, such as PRIIPS and MiFID II. Our customer was looking for a solution that could automate and digitalize the advisory process, while meeting all the regulatory requirements in their restricted banking environment. Our client is part of a private banking and asset management group with approximately 20 offices around the globe. Headquartered in Lichtenstein, the company operates in the sectors of private banking, alternative asset management as well as venture philanthropy. With the enforcement of the new PRIIP and MiFID II regulations, the bank needed an automated solution to face this demanding challenge of compliance with the new regulatory requirements.

Solution

Flowable designed, developed and implemented an overarching orchestrator layer to digitize and automate the overall advisory process.

• Overall workflow integration of Swiss Quant Solution – Avaloq Adivsory Banklet into the process

• Development of an overreaching orchestrator layer to enhance and simplify the client advisory output management process

• Integration into Avaloq AFP and ACP, customer specific Avaloq modules and ACTICO business rule engine

• Development of a dynamic and rule based output management module to manage the legally required documents

• Asynchronous bulk document processing

Project Details

Flowable Team: 8 members, consisting of Project Manager, Software Engineers, Process Modelling Engineer, Business Analyst and Software Support Architects Users: Customer Relationship Managers (CRM) Development Period: 2015 – ongoing

Products & Technologies

• Flowable Work & Edoras 1.6

• Spring

• AngularJS

• Avaloq ACP and AFP

• JMS and SOAP

Impact

By implementing the solution, processes and workflows are digitized and automated. These are contributing factors that speed up processes, increase efficiency, improve user experience, and therefore, result in higher customer satisfaction. Furthermore, the successful implementation of the PRIIPS and MiFID II regulatory requirements guarantees compliance at all times.