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The client is a leading US-based financial consulting firm with over 1,000 financial advisors managing approximately $30 billion worth of financial assets for their clients. The company offers a range of financial portfolio management services such as investment management, tax consultations, and financial advisory training.
Over the last decade, financial institutions have been turning towards Big Data and Data Analytics capabilities to accelerate their business growth and offer improved customer services at lower costs. An IDC survey reveals that banks and financial institutions have invested 28% of their IT budget into Big Data and analytics. Additionally, the rapid growth of the Internet-of-Things (IoT) has further increased the volume of customer data – with a variety of both structured and unstructured data being generated from a variety of data sources. With growing competition in the FinTech space, more financial services companies are developing innovative financial software solutions that are now driven by data.
The client was seeking a solution to streamline their financial tasks and data management processes, which were heavily reliant on Excel spreadsheets and manual procedures. Experion proposed a comprehensive financial portfolio management system that would automate routine financial tasks and data management processes and allow for real-time analytical reporting for clients. With this solution, the client was able to improve operational efficiency, increase data accuracy, and provide a better customer experience.