Client
Our client, one of the oldest stock exchange firms in the UK, stands as a stalwart institution boasting a valuation of $25+ Billion. With a dedicated workforce exceeding 5200+ employees, the exchange plays a pivotal role in the financial landscape of the UK with a legacy of stability and resilience.
$25+ billion valuation
Challenge
Business Challenges
Our client encountered significant hurdles stemming from system inaccessibility because of on-premises infrastructure. In today’s dynamic business landscape, access to technology and data for selective stakeholders hampers the potential for open collaboration, hindering the firm’s ability to drive success digitally. Seamless cross-border data delivery was a critical challenge they looked to tackle.
Moreover, the absence of a workflow for critical data deliveries created inefficiencies, especially for vital stakeholders like fund managers. In a world where timely and accurate information is paramount, this limitation capped the firm’s capacity to meet the demands of modern investors.
Furthermore, the lack of API-compatible architecture restricted the firm’s fund managers from accessing tools for business intelligence capabilities such as risk data, a global index, and other reference data.
To sum it up, global digital connectivity and quick access to critical insights were what was missing.
On-Premises System Challenges
A 12-year-old SQL server-based DW application, while once functional, now faced hurdles in adapting to evolving data requirements. The scalability and performance issues impede the system’s ability to meet the demands of a dynamic market. As our client envisioned transforming this legacy system into a global platform, addressing certain challenges became paramount.
Global Platform Transformation
Transitioning the system into a global platform to deliver information worldwide.
Legacy System Constraints
12+ year-old SQL server based DW application is a roadblock for emerging data capabilities.
Scalability and Performance Issues
The existing DW application required higher efforts for new data elements.
Limited System Availability
System access confined to a few stakeholders restricts global reach and collaboration.
API-driven Architecture
API-driven architecture seamlessly helps with a global index and other essential reference data.
Lack of Advanced Analytics
BI Solution gaps for crucial data elements like indices, security references, and risk data.
Solution
Roadmaps, Migration, & Managed Services
We leveraged our AMAZE® platform to handle the complexity of historical and everyday data, and to build an automation roadmap for achieving the Datawarehouse migration without any impact on day-to-day business. The steps were:
- Assess the current state in 6 weeks with options for building a highly scalable Cloud Data Warehouse
- Create a roadmap for migrating the DW based on SSIS jobs, Stored Procs, SSRS reports, and fund fact sheets leveraging Hexaware AMAZE®, and define the scope of work aligned with the business need
- Deliver a foundation solution to demonstrate the capability of the platform in 3 months
- Build the data infrastructure from 12 data sources
- Define a 2-year roadmap to build the data infrastructure on an AWS stack with Elastic MapReduce (EMR), Redshift, Talend, and Simple Storage Service (S3)
Benefits
Accelerated Data Loading
AWS migration resulted in 45% faster data loading.
Reliability
AWS S3 ensures data reliability with a 99.99% uptime.
TCO Reduction by 60%
$1.2 million annual savings in hosting and licensing costs by moving to the cloud.
Rapid Cloud Migration
~40% quicker new dataset onboarding to AWS Cloud using AMAZE®.
Cost-Efficiency for Migration
Achieved 40% effort savings in execution through AMAZE®.
Scalability
AMAZE® facilitates seamless scalability for varying data loads, ensuring operational efficiency.
Streamlined Operations
Reduced efforts for data retrieval translate to streamlined operations, boosting overall productivity.
Improved Data Architecture
AWS Migration not only accelerates data loading but enhances overall system performance.
Summary
Our expertise, coupled with the transformative capabilities of the AMAZE® platform, empowers clients to seamlessly transition, innovate, and thrive in the dynamic cloud-centric landscape. This strategic approach positions them for sustained success.
Our client seeks to gain a boost in data availability and innovation, including fast scalability, optimized costs, improved data integrity, superior system performance, and streamlined operational efficiency.
Our tailored cloud strategy empowers them to not only meet immediate needs but also to future-proof their operations, fostering innovation.
