Client
A leading global financial institution operating in over 60 markets and six continents. It offers a suite of financial services, including retail banking, corporate banking, investment services, and global custody and clearing solutions.
Challenges
The client faced significant challenges across its markets due to fragmented custody platforms, manual trade workflows, and a lack of real-time insights due to siloed data systems. These operational challenges hindered their ability to deliver centralized and standardized operations, meet regulatory demands, and provide actionable insights for strategic decision-making. Heightened client expectations for seamless, real-time, self-service services and increased competition from fintech disruptors added to the complexities.
A large operations team that supported multiple geographies was needed to maintain the high levels of manual trade instruction repairs. The use of multiple instances of custody platforms for different markets resulted in varying custody client experiences and increased rework when building common features. Further, the client had limited transparency across the custody settlement transaction lifecycle.
LTIMindtree Solution
LTIMindtree provided consulting services in designing a comprehensive architecture & transformation roadmap. Key aspects of the solution included the following:
Cloud-Native Architecture
Engaged our Business & Technology Consulting team, which brought deep custody domain expertise along with industry experience in helping clients transform from legacy to cloud-native architecture.
Domain-Driven Design Principles
Executed the consulting assignment over a period of 5 months to deliver a comprehensive architecture blueprint using domain-driven design principles that will help the bank’s business and IT stakeholders to align on future state platforms.
Global Custody-Direct Custody and Clearing
Conducted in-person event storming sessions with the Product team and proposed a single transaction model for GC-DCC (Global Custody-Direct Custody and Clearing) transactions and new cash management processes working with the Treasury team.
API and Real-Time Events
Designed a next-generation client communication journey with API and real-time events. Redesigned the exception management flow to increase straight-through processing.
Future State Architecture
Provided a product roadmap and future state architecture, including microservices catalog, business events, datasets, and non-functional requirements for a couple of complex markets.
Business Benefits
LTIMindtree’s solutions resulted in measurable improvements for the client’s custody operations and customer experience, including the following outcomes:
Conclusion
By leveraging advanced technology and a robust strategy, LTIMindtree transformed the client’s custody operations, aligning them with modern-day expectations of data analytics in banking and streamlined automation. This transformation enabled scalable, resilient, and globally consistent performance, empowering the bank to remain competitive in a fast-evolving financial services industry.
With ongoing collaborations and an unwavering commitment to innovation, this partnership continues to unlock potential for long-term growth while addressing emerging market needs tied to regulatory, technological, and operational advancements.
Our LTIMindtree Business & Technology Consulting Partners, bring to the table deep domain expertise backed by industry experience of how organizations are approaching transformation. In collaboration with the client’s product leaders, we were able to successfully translate their vision into a comprehensive architecture blueprint with an end-to-end view of a modern custody platform.
Amrit A Raheja, Technology Partner, Banking & Financial Services, LTIMindtree
Call to Action
For more information, please visit our web site or get in touch with us at BFS Strategy BFS.Strategy@ltimindtree.com
