With over 20 years of industry presence, our client – XYZ Securities (*), struggled to keep their market share. They soon learned that while competitors set higher customer expectations using technology, XYZ fell behind with a sluggish system. Aiming to regain their position among the top 10 leaders, XYZ Securities embarked on a digital transformation journey, and their partnership with Synodus proved to be the catalyst.
Challenge
Despite ample resources, XYZ struggled due to poor user experience and outdated operation. While their peers onboard new customers, XYZ’s market share declined with mounting bad reviews and a lack of versatile investment product. Their reliance on manual processes also became a burden, slowing overall performance.
Our client decided to find a new way. But having complex and legacy systems, they were also more cautious about new technologies, questioning, “How will the modern tool work effectively with existing ones and not disrupt the established business model?”
Digital transformation can’t be done in one day, XYZ Securities decided it should be a long-term transition.
Our solution
Why they choose us
With a proven track record in digital transformation for renowned businesses such as Unilever, KPMG, Bamboo Airways and Viettel, we caught our client’s attention.
Most vendors can do what we asked for. I think it’s pretty straightforward. But what makes Synodus stand out is your approach and commitment to the task. There’s something that makes us feel seen and understood. I’m looking forward to our partnership
Dealing with complex and messy systems
To not damage the existing core and data structure, we considered many alternatives and ended up with a strategy that evolved around 4 pillars:
- Embracing Market-Centric Approach to finely align the solution with market demands.
- Harnessing Modular Infrastructure to foster adaptability and future-proofing the product.
- Phased Rollout to minimize disruptions and maximize user acceptance.
- Compliance Assurance to navigate regulatory landscapes with precision.
Solution: all-around platform for end-users & XYZ executives
With a set of robust features, XYZ employees are equipped with a high-efficiency tool to enhance their work performance, ultimately bringing better investment offer and services for their customers:
- Mobile-first interface: Thanks to the diversity of Flutter and ReactJS, we created a user-centric interface with which everyone can engage, despite their age and knowledge of tech, right at their fingertips.
- Automated Self-care functions with embedded eKYC: Favored by many users, they can now freely explore and set up an investment & stock exchange hub for their needs. The process of account opening-closing and onboarding are all automated. For our client, this removes manual paperwork and saves tons of time.
- Smart Analytics: With customizable dashboards and real-time updates backed by Kafka, XYZ executives can instantly access valuable insights, prompting decision-making and responsiveness.
- Enhanced security: Our system proactively alerts our client to potential threats and issues, ensuring uninterrupted operations.
- A combination of Microservices and API-driven back-end that can easily be scaled up and down. This established a reliable infrastructure where our client can expand their product offerings.
- Coupled with Golang and Kubernetes, our system can manage and process large data volumes efficiently without any error or lagging.
Great results
Armed with a potent weapon, our client was confident about reentering the fiercely competitive market and reinforcing their long-lasting name. After 4 months, they recorded positive results:
- Their market visibility soared, marked by increased revenue and user-base growth.
- Their team shifted 100% from offline to a fully automated online process.
- End-used is reportedly fond of the personalized dashboards.
- XYZ management team can quickly facilitate market expansion while adhering to local and global compliance.
XYZ Securities’ digital transformation journey with us has propelled them toward. As we continue to work together to maintain the system, exciting developments lie ahead.
XYZ made digital transformation their most tangible strategy of the year. What about you?
Moving into this tech-focused and data-driven world without the right tool can quickly kill all your business efforts. Don’t let opportunities pass by just because you lack digital transformation.
*We take our clients’ confidentiality seriously. While we’ve changed their names, the results are real
