Case Studies: Financial Services
Click below to learn more about how Modis has helped companies in the financial services industry:
- Full Service Global Financial Firm
- Leading Financial Service Firm
- Major International Investment Firm
- Global Investment Management Company
- Major Credit Card Servicing Institution
- Leading Global Investment Bank
- Global Banking Organisation
- FTSE 100 Financial Services Group
- Major UK Investment Bank
Client Overview: Full Service Global Financial Firm
This global, full-service financial firm, a leader in the U.S. securities industry, provides brokerage, investment banking, and asset management services to corporations, governments, and individuals around the world. The client contacted Modis in its ambitious search for a vendor who could provide 50 consultants in specific skill areas within a three-week period.
The Modis Solution:
By utilising Modis' Guaranteed Delivery Programme, Modis fully satisfied the client's needs within the time frame desired. This Modis offering stresses a stringent process to understand the client's needs, effective selection methodology, and puts the responsibility for screening, testing, and interviewing on Modis. In addition, the client is given a one-week, risk-free period during which they confirm each candidate's capabilities. In addition to meeting the needs of the project, this produced significant savings for the client, based on the reduced involvement in the screening and interviewing process.
The skills of the technical staff provided included knowledge of various aspects of client/server infrastructure, C and C++ languages, Unix, Sybase, and Oracle. Consultants were provided for the client's NJ, NYC, and London locations.
Client Overview: Leading Financial Service Firm
The Cash Equity Group at one of the largest financial services firms in the United States contacted Modis to bring together a significant programming team in a very short period of time. Specifically, it needed a team of 14 senior programming analysts within 2 weeks to upgrade existing CICS applications. These CICS applications enabled SYSPLEX, which is a core IBM technology used at this firm.
The Modis Solution:
Modis proposed its Guaranteed Delivery Programme as the fastest and most cost-efficient method to assemble a quality team of consultants for the project. The client agreed that the Guaranteed Delivery model, where Modis assumes total responsibility for assembling the team and guaranteeing the success of each consultant on the project, was the best vendor-presented alternative. After the successful completion of this effort, it was clear that this approach provided significant internal cost savings to the client because the client managers were relieved of the time consuming task of having to interview candidates.
In addition, Modis was able to draw on other Modis branches around the U.S. quickly to provide an outstanding team of consultants. The project, which was managed by the client and Modis jointly, was completed on time and within budget.
Client Overview: Major International Investment Firm
A major international investment firm had recently purchased a large institutional and retail asset management company. This acquisition led to this client's desire to deploy an online wrap-fee service and provide research, pricing advisory, and trading services to institutional and high net worth clients. The solution envisioned was centred on an online investment portal. This portal would provide access to proprietary and vendor services that would distribute information scaled in relation to the amount of assets held under management. The solution needed to support a fixed-fee pricing model, varying on an escalating basis.The Modis Solution:
A Web-based intranet strategy was chosen due to its flexibility, scalable nature, broad features, and the range of tools and applications available. After reviewing several Web servers, Microsoft's NT Server, Internet Information Server, and SQL Server were chosen as the underlying architecture. Modis wrote a custom intranet application that provides client and vendor-provided information. This enables the client to easily disseminate current equity and fund research and performance information to its investment community. The platform will allow users to trade fixed income, equities, options and/or proprietary product offerings.
The system uses the database and browser cookies to provide and verify access to the secured areas on the intranet. Users of the site used Microsoft Site Server to replicate content from staging servers to production servers and to analyse site usage.
Client Overview: Global Investment Management Company
Our client, a global investment management company, was in the process of a national enterprise desktop programme, part of which was the launch of a Windows 2000 project. The scope of this project included an SMS and Exchange upgrade. The client turned to Modis to provide technical assistance.
The Modis Solution:
A team of 40 consultants was established to complete this effort. Modis supplied a majority of the team, approximately 30 consultants, making Modis' contribution 90% of the total staff needed. Our consultants filled the following skills/roles:
- Program Managers
- Process Analysts
- Network Architects
- Senior Network Engineers/Application Engineers
- Test Engineers
- Desktop Analysts/Applications Screener
Client Overview: Major Credit Card Servicing Institution
The systems group within the HR department at a major credit card servicing institution was tasked with upgrading its systems environment. This was part of a national effort for this market leader to continue to leverage technology to increase market share and efficiency. Specifically, the group was asked to implement the following principles in executing its strategy:
- Maximize use of Internet and intranet technology in development of applications and reporting
- Leverage best practices
- Offer flexible and scalable architecture
- Build on existing HR systems
- Provide access to analytical tools and information provided to managers at all levels
The specific issues faced by the client included limited MIS reporting capability, incomplete HR data, limited access to managers, unavailability of reports when needed, lack of ad hoc reporting capability, manual report aggregation, data versus information problem, lack of report integration, and general lack of "big picture" information.
The Modis Solution:
Modis supplied a team of developers utilising, VB, ASP, SQL, Windows NT and graphic/content specialists utilising HTML, FLASH, DHTML, VBscript, and JavaScript. The assembled team assisted in producing flexible, customised reporting. The payoff included:
- Ability to predict employee performance, turnover, absenteeism
- Ability to make fact-based, strategic human resource decisions
- Access at the right levels at the right time
- Minimal data entry, automated reporting
- Integration with financial system
- Information versus data
Client Overview: Leading Global Investment Bank
Last year (2002), Modis won an on-site Managed Service/Beeline Programme with a leading global investment bank, for locations in London and New York. Our successful bid removed the two long-standing incumbents. The client was running 12 separate systems covering the procurement process. The implementation of Beeline as a single system to replace these systems (and the support required to run them) yielded immediate cost savings to the client. We are currently managing a high volume of contractors in the UK.
Client Overview: Global Banking Organisation
Modis has worked with one of the world's largest banking and financial organisations since 1998 as master vendor for the provision of IT contract and permanent staff. The service is facilitated by a Modis on-site presence at a main location, to which all UK offices of the organisation issue requirements via a single point of contact. Modis has an agreed timescale to fulfil a request, after which requirements are issued to our chosen list of national, local and specialist suppliers.
Client Overview: FTSE 100 Financial Services Group
Modis Managed Services has worked with one of the UK’s major financial services groups since April 1999, providing a supplier management service for all contractors on-site. The service was later extended to support the group's permanent recruitment programme. We have successfully resolved issues with agencies taking margins considered too high, reducing them to a highly competitive level, and we have facilitated intangible savings based on time saved by HR, procurement and line managers in the recruitment process. The company in partnership with Modis, has also been able to actively manage the recruitment process and performance of supplying agencies, through the use of reports from the software we have provided.
Client Overview: Major UK Investment Bank
A major UK investment bank was finding it difficult to resource experienced developers that truly understood the banking business, a common industry problem. By choosing the Guaranteed Delivery Programme, the bank is able to take advantage of the fact that each candidate must undergo the following: two online technical skills tests, a written business knowledge test and an interview by a member of the Modis banking team, prior to the client even seeing a CV! This, coupled with our guarantee that the candidate has the relevant knowledge, skills and attitude has made this a highly effective partnership.