Success Stories
Enhanced Operational Efficiency through Integrated Operations and Technology Services for a leading Issuing and Paying agent
Business Need
Business imperative for the client was to reduce the overall operational risk, improve operational efficiency and reduce transaction errors in business processes and supporting applications.
HCL Solution
The operational and technological issues such as errors in applications, data, legacy technology and lack of adequate desktop procedures led to frequent process breaks and transaction errors.
HCL had a long relationship with the client working on the client's applications and processes. As a part of the program, HCL manages 90+ applications and also the business processes spanning the entire debt issuance and paying value chain. It includes the complex and risky corporate actions processes.
The Integrated Corporate Trust team provided reengineering opportunities to HCL transcending the individual group boundaries between Technology and Operations. HCL reengineered the application and the technology landscape with an integrated perspective. 90% of the entire program effort was from HCL that includes Project Management, Biztalk Architecture, .NET Architecture, Release Management.
HCL provided following services in operations to the client:
- Money Market Issuance & Settlements (MMI)
- Principal & Interest Billing
- Corporate Actions
- Common Depository
- Principal Paying Agency
- Fee Billing
- Proof & Control
- Migrated the fragmented multi-platform application landscape to an SOA based .Net platform, developing 23 applications on time and within budget
- Greater business user productivity as a result of more tightly integrated system and with enhanced STP
- Higher Cost Saving due to Infrastructure Consolidation
- Elimination of 18 sub-processes through process improvement
HCL has provided process consultancy for simplifying the corporate actions processes through technology and process re-engineering. The final recommendations will eliminate several sub-processes and manual effort. This will result in reduced operation risk and total cost of ownership for the business.
