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A Story of Owning Change

Trading System Modernisation

Read how TEKsystems deployed a team to support the modernisation of a global bank’s trading system.

12

resources deployed in <1 month

100%

project team deployed by TEKsystems

US$2M

annual savings

Trading System Modernisation

OWNING CHANGE IN FINANCIAL SERVICES

Our client is one of the largest banking and financial services institutions in the world, operating in over 60 countries globally.

Trading System Modernisation

The challenge:The Million-Dollar Problem

Our client wanted to upgrade their legacy trading system, which had been in place for over ten years and cost them US$1 million annually to maintain. A new cost-effective system was needed, one that would be deployed across Southeast Asia. Singapore and Indonesia were identified as ground zero for launch, followed by Hong Kong and Taiwan at a later stage.

The deadline for release in Singapore was within a year, prompting our client to seek support and added bandwidth. To drive this business-critical initiative, they wanted an exclusive vendor partnership to deliver a high-calibre team of twelve consultants with strong technical skills and solid experience in the banking domain.

Enter TEKsystems, to deliver a bespoke trading system in record time for our client. And in doing so, make the seemingly impossible possible.

Our proposal:A High-ROI Solution

Working in tandem with key stakeholders from our client, we gained an in-depth understanding of the project scope, captured the requirements and target milestones, and anticipated potential challenges in advance. To deliver on our client’s requirements, we leveraged our high-quality, cost-effective resourcing model.

To streamline the process, we quickly deployed three senior consultants, who in turn screened and selected the remaining technical resources to be deployed. This approach improved conversion rates, saved time, and enhanced trust with our client, as TEKsystems set the wheels in motion.

Once our team was deployed, we conducted regular meetings with the hiring managers, technical leads and consultants to monitor project delivery, track timelines, and exchange feedback to make continuous improvements. No matter the twists and turns – we were there for our client every step of the way.

Trading System Modernisation

Real-world Results

Within a month, TEKsystems deployed a project team of twelve specialised resources, with experience across Business Analysis, Testing, Java and Frontend Development. All technical consultants had extensive prior experience in the financial domain and strong English communication skills to ensure smooth synergy with their global counterparts. This enhanced personnel efficiency and sped up overall progress, playing a pivotal part in the project’s success.

The outcome? Within our client’s intended time frame of a year, the new trading system was up and running in Singapore and Indonesia. It gained recognition as a STAR project and helped them save an estimated US$2 million per year. Now, our client is replicating the good case practices from this project onto the other initiatives in their pipeline. New opportunities, unlocked.

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