84%
consultant interview-to-offer rate
66%
reduction in labour costs
6
months for project completion
OWNING CHANGE IN FINANCIAL SERVICES
Our client is among the largest banking and financial services institutions in the world, serving over 40 million customers across 60+ countries.
The challenge:Hefty Fine for Missing the Deadline
Our client needed to develop their customer transaction system in China to comply with the latest regulations imposed by China's Banking and Insurance Regulatory Commission which required all transaction data to be secured and stored domestically. This was a business-critical initiative that had to be completed before the stipulated cut-off to avoid incurring hefty financial penalties.
As part of this complex regulatory initiative, our client had to move their existing online corporate banking set-up from the UK back to China and launch an application for their corporate customers. With their existing team severely understaffed and lacking the required technical expertise to execute this project, our client needed to onboard technical SMEs to build the entire system infrastructure to support the human-computer and automation interfaces, and create features for information provision, transaction, and other customer service offerings. An enormous task, considering the tight timelines and lack of capacity.
Adding further complexity was the regulatory and security challenges of undertaking such a massive cross-border data migration. The onset of the COVID-19 pandemic created further complications and left the project in limbo, prompting our client to explore viable strategic alternatives and partner with TEKsystems.
Our proposal:Getting Up to Speed in No Time
TEKsystems engaged with key stakeholders to understand the gaps that existed between the current and ideal state of the customer transaction system. We mapped out the critical milestones that had to be fulfilled for the system to be migrated and fully functional before the cut-off date.
To deliver on our client’s resourcing requirements, we leveraged our bespoke resourcing model and identified the critical skillsets that had to be deployed to support the migration including System Operation Engineers, Maintenance Engineers, Database Administrators, and Middleware Operators. We then assembled a specialised delivery team to quickly identify and onboard skilled technical resources within the different infrastructure skillsets. Through our regular communication touchpoints with key project stakeholders from our client, we provided timely updates on our search and ensured alignment throughout the consultant selection and deployment process.
Real-world Results
Leveraging our proven delivery methodology, TEKsystems deployed seven skilled infrastructure consultants to work on-site at our client's China premises. We streamlined the entire hiring process maintaining an interview-to-offer rate of over 84% and onboarding all the resources within four to six weeks to align with our client's timelines.
Our team of technical SMEs has built a scalable and adaptable infrastructure architecture along with developing the APIs to support our client's operations in three data centres across two countries. As a result of their relentless efforts and process improvements, the project was successfully completed nearly six months ahead of schedule .
Through our constant engagement and performance management support, we maintained high consultant satisfaction and achieved a retention rate of over 83% during the entire project lifecycle. Our consultants have proven to be great additions to our client's technical team, laying the foundation for achieving stronger compliance and sustainable future growth.
By fulfilling their hiring needs locally in China, we have significantly lowered our client's IT labour hiring costs compared to other locations in the West. This was greatly appreciated by our client's global HQ and has helped to expand our partnership to support several other programmes of work.