This case study is anonymous in accordance with the corporate policy of our customer.
A need for better information management
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.
“While our experience and stability are vital assets, we know that our reputation can only be maintained by providing the highest standards of service,” says the company’s IT Manager. “Whether the markets are performing well or poorly, providing customer satisfaction is always our first priority.”
- Improved customer service
- Regulatory compliance
- Improved business performance
Therefore, one of the firm’s 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.
The legacy system was highly reliable and robust, but its inflexibility made it difficult to tackle compliance issues – which also led to a growing administrative burden. “As our business grows, so does the amount of data processing, which also leads to pressure on work schedules,” says the IT Manager. “Added to this, we have an ongoing requirement to meet external legal and regulatory business mandates from the Financial Services Authority.”
A seamless migration to a more flexible and open database
After consulting with InterSystems, the client concluded that they could achieve all the application and data integration that was required by implementing InterSystems Caché®, a high performance object database. Caché provides many database interfaces, including industry-standard ODBC and JDBC, and Web-based interfaces, for more efficient data import, export and user presentation.
Caché enables us to provide accurate, up-to-date pension fund valuations to our Institutional Investors – which is why we view it as an integral part of our client satisfaction programme.
“Caché met all our technical criteria,” says the IT Manager. Originally, the applications ran on a reliable but old HP VMS operating system. The upgrade to Caché enabled the company to migrate to a Linux-based platform, reducing costs and providing flexible options for deployment and management.
“There were some very attractive price and performance benefits for the Linux migration. At the same time, the upgrade to Caché enabled us to take advantage of new capabilities. These included application developer productivity features in Caché Studio. 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,” says the IT Manager.
“The 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.”
The business benefits of using the right database system
Improved customer service
Since the introduction of Caché, the firm’s use of application and system interfaces to seamlessly exchange data with other applications – especially Web-based – has grown dramatically.
Using Caché makes it mucheasier for us to manage massive amounts of data, and respond to requests from financial market regulators in a timely and cost effective manner.
“A 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. Caché enables us to provide accurate, up-to-date pension fund valuations to our institutional investors – which is why we view it as an integral part of our client satisfaction programme.”
As well as providing information to investors, the customer is also compelled to provide information to the Financial Services Authority, the independent UK regulator.
“Using Caché makes it 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,” says the IT Manager.
Improved performance, investment protected
Since installing Caché, 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.
“We have high expectations for where our partnership with InterSystems will take us in the future,” says the IT Manager.