Investment software development: 17% boost in operational efficiency for a prominent bank

CRM

Web

Innowise has developed a feature-rich financial application to govern bank deposits, stock investments, asset portfolios, pension savings, and more under one roof.

Customer

Industry

Fintech, Banking, Investment

Region

Germany, Switzerland

Client since

2021

Our customer is an international company providing comprehensive banking solutions that enhance convenience, flexibility, and cost-efficiency throughout the financial value chain.

Detailed information about the client cannot be disclosed under the provisions of the NDA.

Challenge

Outdated investment portal lacking flexibility and compatibility with banking-related guidelines

The banking industry is plentiful with solutions that enhance customer experiences, attract new audiences, and improve business operations. However, banks should make their offerings stand out in this highly competitive market. Along with providing customized solutions that meet users’ needs, they must ensure unparalleled security and compliance with global financial regulations.

Our customer has been providing banking and investment services across 20+ countries, with branches scattered worldwide. The client wanted to modernize its proprietary investment portal by making it more flexible, comprehensive, and compatible with industry-specific guidelines. Due to this, they approached Innowise to create a versatile investment solution with seamless customizations based on unified European banking legislation.

Solution

Back-office investment application including admin panel, CRM system, portfolio manager, and more

Our client already had an R&D department that focused on developing digital solutions that span wealth management, investing, credit, insurance, and more. In turn, Innowise was tasked with creating a back-office investment application capable of adding new features (for web/mobile applications, localizations, etc.) if necessary. Together with the client’s in-house specialists, we developed an integrated investment platform containing a number of microservices to make managing financial assets easier.

User and admin roles

Individuals and legal entities can easily manage their finances through a client UI displaying the application’s features in an easy-to-navigate way. There, corporate clients can view their account balance, transfer funds, govern investments, pay bills, and manage their account information. The platform also includes an admin panel where bank managers can adjust various settings (currencies, questionnaires, goals, templates, localizations, etc.), define roles and responsibilities, and give access to system artifacts.

CRM system

As one of the key project tasks, our team participated in CRM development, designing a database-driven system that allowed banking employees to collect, organize, and analyze customer information from various sources, including transactions, investments, customer service interactions, and marketing campaigns. Using a CRM system, bank employees can manage inquiries efficiently by providing a 360-degree view of a customer’s history and enabling them to access the information quickly by storing contact, account, and demographic information in a central database. Moreover, it allows managers to adjust promotional activities, track operational performance, and identify cross-selling opportunities to offer the best-suited banking solutions based on customer preferences and behaviors.

Portfolio manager

Also, our project team updated the portfolio manager, making it easier for individuals and legal entities to manage assets and investments. Now, users can manage asset portfolios and buy/sell bonds, mutual funds, and other assets in real-time, optimize and rebalance their profitability based on industry benchmarks, view history and statistics, and more from one place. Moreover, our project team used advanced investment analytics to help allocators build a diversified investment portfolio aligned with generic investment goals and risk tolerances.

Mailing, notifications and reports

Last but not least, we implemented several auxiliary services to manage personal assets seamlessly. The project team configured the mailing service to send inquiries, request support, and provide feedback. Also, the bank can send customers security alerts, account updates, or promotional offers via email and other messaging channels.

We also modernized the banking notification system, making it more accurate and event-driven. Thus, customers receive instant notifications upon completing a transaction, making a deposit, or conducting a payment via push notifications, SMS, email, or in-app messaging without interruption or misaddressing.

To monitor and evaluate the efficiency of banking operations, our project team reshaped the financial reports and statements system. Customers can view their account balances, transaction history, payment records, and other financial data in real-time and download personal statistics in PDF, Excel, or CSV for further analysis or record-keeping purposes.

Technologies & tools

Back-end

.NET, xUnit, Moq, RabbitMQ, SonarQube, YAML, C#, MVC, LINQ, Entity Framework

Front-end

JavaScript, React, CSS

Database

MS SQL, Stored Procedures, EF

Cloud

Azure Pipelines

Postman, Cypress, Github, Jira, Confluence

Process

Initially, Innowise completed a thorough onboarding process to fully understand the specifics of the customer’s business before diving into the project. The scope included many explanations and clarifications, so we kept close contact with the client to resolve issues quickly and maintain a delay-free project course.

The project team faced several challenges throughout the project, including unclear requirements for new features, legacy code syntax, complicated banking vocabulary, and a cumbersome process for managing concurrent projects on the vendor’s side.

To track intermediate progress and deliverables, our team used Google Meet to stay in touch with other project teams and stakeholders.

As of now, the project is ongoing, with Innowise working on the pension and retirement modules, providing post-launch support for existing ones, addressing system errors, and adding new features if needed.

Team

Business Analyst

Front-End Developers

Back-End Developers

DevOps Engineer

QA Engineers

Results

Streamlined operational efficiency and reduced manual effort after investment banking software development

Innowise has developed an investment portal that provides information on users’ investment portfolios, asset distribution statistics, and value changes, covering information about deposits, stock, bonds, pension savings, and more. In addition to updating the user interface, the project team introduced both user and admin roles. Users can view their account balance, transfer funds, govern investments, pay bills, and manage their account information, while bank managers as admins adjust various settings (currencies, questionnaires, goals, templates, localizations, etc.), define roles and responsibilities, and give access to system artifacts.

Furthermore, we helped update the banking CRM to store information about corporate clients in a centralized repository without the risk of personal data leakage. With advanced statistic charts and vivid dashboards, we transformed the portfolio manager into a potent tool for evaluating and planning investment activities throughout the value chain. Additionally, we configured event-driven notifications, smart reporting, and mailing services to perform banking activities seamlessly. Consequently, the one-stop banking platform effectively allocates resources and generates profits.

Project duration

November 2021 - Ongoing

24%

reduction in paperwork

17%

increase in operational efficiency

Related cases

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Investment software development: 17% boost in operational efficiency for a prominent bank

Customer

Challenge

Outdated investment portal lacking flexibility and compatibility with banking-related guidelines

Solution