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Case Study

Japanese financial institution boosts productivity and accelerates speed to market

How the world’s fifth largest financial institution leveraged the Genesis Application Platform

The Challenge

Genesis Global partnered with a Japanese financial institution, one of the world’s leading financial groups with approximately $3.1 trillion in assets.

Their services include corporate investment, commercial and consumer banking, as well as transaction banking, securities, and wealth management.

They were implementing a rapid business transformation program across its global securities business and needed to digitalize processes for their global Fixed Income electronic trading business that included a wide range of products.

They required a solution that could house several e-trading and electronic buying workflows in a single environment, in addition to enabling their developers to build customized applications – including a Trading Portal and Pricing Engine – using a single platform.

Because they operate in a very regulated environment, their compliance standards around technology are extremely high.

They required a single vendor that would enable them to simplify and streamline their application development, while having the ability to customize applications that would eliminate specific business challenges.

In addition, they needed to find a solution that would not limit them in terms of audience, backup, disaster recovery, user preference, or the developer behind the keys. Most importantly, the code needed to be written at a high standard and the solution had to be scalable.

Why Choose Genesis Global

The institution did their due diligence and chose to leverage Genesis’ technology due to the following four contributing factors:

Simple and customizable

Simplified platform with customizable building blocks

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Reliable

Proven ability to meet regulatory requirements

Agile

Speed of delivery, creating efficiency and ease

Highly capable

Readiness of certain applications as part of the app store. For example, Matcher for reconciliation.

The Solution

To achieve their goal to digitalize processes, they needed to build numerous applications, including a Client Portal, Trading Execution Platform for FX, and a series of custom applications, but they needed these applications to be sculpted around their core platform.

The platform needed to feed into the company’s existing technologies, thereby helping them strengthen existing workflows as they scale their electronic trading franchise.

To achieve this, they turned to the Genesis Application Platform that features reusable components and a suite of development tools that boosts productivity and radically accelerates speed to market.

The Benefits

The Genesis Application Platform is used as a key component of the company’s multiyear front office digital transformation plan.

Improved operational efficiency

It provides a clear path to replace selected end-user spreadsheets with scalable business processes, provides system interoperability and reconciliation, and reporting and audit capabilities as required in a highly regulated modern banking environment.

Remove operational risk

The Genesis-powered solution allows full user authentication and permissions and is server-based to remove desktop load and operational risk. The firm can interact with one vendor, under one core platform and handle the high volume and complex business requirements of the company.

Increase efficiency and reduce cost

Not only does this create efficiency and ease for the partner, but the high-quality of code design and microservices means that a single change gets cascaded through the system, resulting in lower cost of support, versioning and modifications.

Customize accessibility

The initial success achieved using the Genesis low-code platform has resulted in the institution expanding the use case to other Capital Markets departments, including their Middle Office and Operations divisions.

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