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Digitalization of investment and asset management
Client
Service
Automation of business processes of a financial management company
Management company “RusCapital”
2022 – present
Years
The management company "RusCapital" specializes in asset and capital management. The organization’s activities are regulated by the Federal Law of November 29, 2001 No. 156-FZ "Of Investment Funds".
"RusCapital" has a license from the Central Bank of Russia to carry out activities related to the management of investment funds, mutual investment funds, and non-state pension funds. Using its own infrastructure and based on its profile experience, the company provides financial consulting services aimed at preserving and increasing the clients' monetary funds and other assets.
"RusCapital" has a license from the Central Bank of Russia to carry out activities related to the management of investment funds, mutual investment funds, and non-state pension funds. Using its own infrastructure and based on its profile experience, the company provides financial consulting services aimed at preserving and increasing the clients' monetary funds and other assets.
About the client
Customers of the investment management firm have expressed a desire to preserve and increase the value of their assets, but prefer to entrust the task of investing to a professional contractor rather than managing it themselves. The company handles a variety of assets, such as currency, real estate, business shares, precious metals, stocks, and securities.
The management company operates on an agency network principle. Key business processes involve managing document flow and obtaining signatures and approvals from three parties: managers of RusCapital, agents of the management company, and end clients. It is essential to constantly monitor transactions made by authorized agents of the client and to track various indicators related to deals and client relations, including:
Interaction and document flow between agents, RusCapital employees, and end clients was conducted through traditional offline processes involving manual work by secretaries. All documents were filled out manually using Excel spreadsheets, paper documents, and handwritten signatures for each approval.
Fund clients had no means to monitor their assets and related transactions in real time, and each action with their assets had to go through a manager’s approval. All metrics were calculated manually by the company’s employees without any automation. Reports were also generated using manual methods. Human factors played a significant role in the company’s system-critical business processes.
The company aimed to rectify the complete lack of automation by implementing a popular CRM system. However, the CRM system was not customized and was only superficially configured. It did not fully cover the company’s business processes, nor did it help to increase the speed and efficiency of RusCapital’s operations.
Standardization of service levels when working with RusCapital clients was absent. Process speed varied significantly due to the dependence on the work of specific employees and the extensive geography of partners located in different locations around the world. A centralized remote working tool was also absent.
In addition, the management company required the implementation of a predictive model to help calculate expected compensation for future deals. Such a system based on mathematical models and Big Data algorithms would provide an effective solution to streamline the company’s operations and help to achieve its business goals.
The management company operates on an agency network principle. Key business processes involve managing document flow and obtaining signatures and approvals from three parties: managers of RusCapital, agents of the management company, and end clients. It is essential to constantly monitor transactions made by authorized agents of the client and to track various indicators related to deals and client relations, including:
- The amount of the agent’s commission received;
- Future income of the agent from the attracted client;
- The specific partner or region that the client is attached to;
- Investment dynamics of each asset;
- Current form and condition of each asset;
- Indicators of expected client profit for the quarter and year;
- The fact of profit accrual for each asset;
- Statistics of clients and their dividends across different funds;
- Terms and conditions of contracts with customers;
- And other metrics.
Interaction and document flow between agents, RusCapital employees, and end clients was conducted through traditional offline processes involving manual work by secretaries. All documents were filled out manually using Excel spreadsheets, paper documents, and handwritten signatures for each approval.
Fund clients had no means to monitor their assets and related transactions in real time, and each action with their assets had to go through a manager’s approval. All metrics were calculated manually by the company’s employees without any automation. Reports were also generated using manual methods. Human factors played a significant role in the company’s system-critical business processes.
The company aimed to rectify the complete lack of automation by implementing a popular CRM system. However, the CRM system was not customized and was only superficially configured. It did not fully cover the company’s business processes, nor did it help to increase the speed and efficiency of RusCapital’s operations.
Standardization of service levels when working with RusCapital clients was absent. Process speed varied significantly due to the dependence on the work of specific employees and the extensive geography of partners located in different locations around the world. A centralized remote working tool was also absent.
In addition, the management company required the implementation of a predictive model to help calculate expected compensation for future deals. Such a system based on mathematical models and Big Data algorithms would provide an effective solution to streamline the company’s operations and help to achieve its business goals.
The challenge
The task at hand was to set up a modern electronic document management system for the agents, clients, and staff of "RusCapital". The client felt the need for an effective and straightforward way to interact with customers and partners. Implementing an IT system and automating processes was expected to increase the attractiveness of the management company, help to find new clients, and develop the agency network.
The team at Digex Co. started by describing the business processes of the management company in detail. After conducting a survey, they realized that the previously implemented CRM system could be retained and integrated with other subsystems and customized add-ons. The CRM was planned as the primary source of data, a kind of Master Node that would form the basis for a future comprehensive IT solution.
When writing the technical specifications for the development, Digex Co. specialists had to take into account the regulatory framework and requirements of the Bank of Russia for financial organizations that have licenses to manage investment funds, unit investment trusts, and non-state pension funds. Additionally, the IT solution architecture had to be complicated due to the limited capabilities of the CRM system regarding data integration and flow.
Digex Co.'s analysts and system architects proposed a comprehensive IT solution with a unified interface for external users: management company agents and end customers. Functional features included independent online monitoring of the clients' asset status, EDI functions, and the use of a qualified electronic signature (QES).
Components of the IT solution for asset and investment management include:
The team at Digex Co. started by describing the business processes of the management company in detail. After conducting a survey, they realized that the previously implemented CRM system could be retained and integrated with other subsystems and customized add-ons. The CRM was planned as the primary source of data, a kind of Master Node that would form the basis for a future comprehensive IT solution.
When writing the technical specifications for the development, Digex Co. specialists had to take into account the regulatory framework and requirements of the Bank of Russia for financial organizations that have licenses to manage investment funds, unit investment trusts, and non-state pension funds. Additionally, the IT solution architecture had to be complicated due to the limited capabilities of the CRM system regarding data integration and flow.
Digex Co.'s analysts and system architects proposed a comprehensive IT solution with a unified interface for external users: management company agents and end customers. Functional features included independent online monitoring of the clients' asset status, EDI functions, and the use of a qualified electronic signature (QES).
Components of the IT solution for asset and investment management include:
- A CRM system from a Russian vendor adapted for integration with third-party systems and a data management solution, Digex Data Fabric.
- A personal account in three implementation variants: for management company agents, RusCapital clients, and the company’s staff.
- Middleware for real-time synchronization of information between all components of the IT solution and data deduplication.
- Customized add-ons to the CRM system in the form of microservices responsible for intelligent features and a predictive financial model.
Work progress
RusCapital has received a complete IT solution that satisfies all the requirements for handling financial and personal data under the Federal Law of November 29, 2001 N 156 "Of Investment Funds." The user interface of the personal account is user-friendly and supports all types of screens, making it easy to use on both mobile and desktop devices.
With the help of developers from Digex Co., the popular Russian CRM system’s technical limitations have been overcome. The system can now issue an unlimited amount of information about clients and their assets at any time, whereas before, it could only issue up to 60 records per second. The comprehensive IT solution is also incredibly fast, with a speed of only 200 milliseconds, taking into account the entire data cascade.
The IT solution guarantees 100% transparency of asset management for all parties involved, including agents, clients, and employees of RusCapital. Clients can now keep track of their profit indicators, communicate with the management company, and perform actions with their assets easily. All coordination processes now take place remotely, thanks to electronic signatures, which has significantly accelerated coordination and signing.
The level of service provided by RusCapital has significantly increased since implementing the IT solution. Many procedures, such as registering a new agent, paying agent commissions, registering new clients, and making decisions regarding asset management, have been accelerated. Signing a contract offer is now instantaneous, and on average, one employee can serve 60% more clients per week.
The project implemented by Digex Co. has significantly boosted RusCapital’s competitive advantage and has become an image-building one for the management company. RusCapital can now develop its agent network more rapidly, attracting more clients in the process. The agents can also forecast the commission size they’ll receive and their future revenues from the attracted client. Furthermore, a browser is now available to agents, where each "RusCapital" partner can check which specific client or entire region is assigned to a specific agent.
Moreover, the customer’s digital sovereignty has been guaranteed. The investment management system like this is not widely available in the Russian market. Instead of buying licenses for foreign software, which could be several times more expensive, RusCapital is now the full-fledged owner of a Russian IT product. The support and development of the IT solution do not depend on the political situation, making it a practical and cost-effective choice.
With the help of developers from Digex Co., the popular Russian CRM system’s technical limitations have been overcome. The system can now issue an unlimited amount of information about clients and their assets at any time, whereas before, it could only issue up to 60 records per second. The comprehensive IT solution is also incredibly fast, with a speed of only 200 milliseconds, taking into account the entire data cascade.
The IT solution guarantees 100% transparency of asset management for all parties involved, including agents, clients, and employees of RusCapital. Clients can now keep track of their profit indicators, communicate with the management company, and perform actions with their assets easily. All coordination processes now take place remotely, thanks to electronic signatures, which has significantly accelerated coordination and signing.
The level of service provided by RusCapital has significantly increased since implementing the IT solution. Many procedures, such as registering a new agent, paying agent commissions, registering new clients, and making decisions regarding asset management, have been accelerated. Signing a contract offer is now instantaneous, and on average, one employee can serve 60% more clients per week.
The project implemented by Digex Co. has significantly boosted RusCapital’s competitive advantage and has become an image-building one for the management company. RusCapital can now develop its agent network more rapidly, attracting more clients in the process. The agents can also forecast the commission size they’ll receive and their future revenues from the attracted client. Furthermore, a browser is now available to agents, where each "RusCapital" partner can check which specific client or entire region is assigned to a specific agent.
Moreover, the customer’s digital sovereignty has been guaranteed. The investment management system like this is not widely available in the Russian market. Instead of buying licenses for foreign software, which could be several times more expensive, RusCapital is now the full-fledged owner of a Russian IT product. The support and development of the IT solution do not depend on the political situation, making it a practical and cost-effective choice.
The result
25 billion
rubles were the assets of the management company as of mid-2022
200
milliseconds is the processing and data issuance speed of the IT solution
100%
transparency of the asset management process for all parties
2,3 billion
rubles was the income brought to clients by "RusCapital" in the first half of 2022
Facts and figures
60%
increase in the productivity of the management company's employees
1
Russian IT solution for asset and investment management
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