The one-stop automation portal hosts more than 150 automations across 35 active processes
Client: A leading financial services company
Industry: Institutional Financial Services
Key Products & Services: Brokerage Clearance and Exchange, Loan Syndication
Area of Operations: Global
Manual touchpoints and use of Macros were the biggest challenges the bank faced on a routine basis. Manual management of invoice reconciliation led to issues like overpayment, duplicate payment, incorrect allocation, and delayed payment to customers. Also, a large number of Excel Macros were used for reporting, in both, brokerage and loan syndication. While Excel Macros provide short-term efficiency gains, they carry inherent risk of failure, which can result in operational loss due to erroneous reports. The challenge was to find a solution, which could eliminate significant manual effort and End User Computing from investment banking domain operations.
Wipro developed a robust, user-friendly, and flexible application - Enterprise Service System (ESS) - to meet all tactical automation requirements of the bank. During the first release, it enabled conversion of all Macros and migration to the web portal. Auto mailers and database management was enabled through ESS in the second release. Finally, it evolved to serve as a workflow solution wherein invoice management and reconciliation was handled in a secure environment. It provided the benefits of Excel Macros and workflow platform but with significant reduction in operational risks.
The web-based application was developed using .NET and Oracle, which was integrated with the client’s single sign-on for authentication and hosted in their environment for secured access. It was also linked with customer application and database to exhibit real-time dashboard for effective process control and management.
The one-stop automation application was built as an IT supported solution (not user-defined) to ensure better data integrity and reduced operational risk.