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F i n a n c i a l S e r v i c e s
RippleImpact serves all types of financial services
--from retail, investment and commercial banks to
investment management firms.
Read some of our case studies:.
Case Study 1:
Client:
The client is a large international retail bank
Challenge:
Information is kept on a legacy mainframe system,
where it is difficult to create new product offerings.
The slow creation of new product offerings causes
churn as existing customers go to competitors who
have such products.
Tellers find it difficult to cross sell or up sell
new products to customers, because information on
customers is distributed across multiple applications.
Solution:
Created a branch sales platform that intermediated
between all existing legacy applications. This application
accessed legacy databases, but also had its own database
where new products offerings or features could be
created, without affecting the legacy applications.
The branch sales platform had knowledge of all of
the products that any particular client owned, and
all of their transactions across all products, and
a rules engine was created that used this information
to suggest to a teller the appropriate cross sell
and up sell products for each particular client.
Benefits:
Tellers had a much more complete picture of each client,
and also were directly prompted on cross sell and
up sell opportunities, allowing greatly increased
revenues per client, and more client satisfaction.
The speed with which new financial products could
be created allowed the bank to quickly supply new
products, or add features to existing products as
client needs changed, and reduce churn of customers.
As new products were added, the cross sell prompting
allowed them to become quickly adopted by existing
customers.
This product was so successful that it was customized
and sold to many large international retail banks.
Case Study 2:
Client:
The client is one of the top investment banks in the
world
Challenge:
Different applications have different views of the
bank's business, and these views are not all compatible.
Multiple views of the business are required in order
to make correct decisions. There are Chinese walls
across the business, and people in different departments,
though they make look at the same client, must see
different information sets. It takes a long time to
create applications.
Solution:
Developed a browsable object model that served as
the enterprise application platform for the bank.
The object model allowed business people to see all
of the principle objects of interest in the bank's
business, and drill down to see the individual customers
interacting with those objects within the appropriate
applications. Created a rules engine that allowed
decisions to be made about an investment based on
information garnered from many different applications,
even where not all the information was visible to
all users. The object model had security set up at
an object level for users, so that users with different
privileges could automatically see different views
of the data in the same applications, without changing
the applications.
Benefits:
The browsable object model let employees of the bank
to get a better understanding of the bigger picture
of the bank's business and make better investment
decisions, improving the performance of the bank's
investments, while maintaining security and non-disclosure
of information across the Chinese walls.
Case Study 3:
Client:
The client is the largest securities clearing and
trading house in Europe.
Challenge:
Clients are requesting complex global derivative instruments,
in which multiple securities must be bought or sold
as a unit. There is risk in these transactions that
if one element cannot be completed, the whole transaction
must be reversed. In addition, different trades have
different priorities to the bank, but these are not
being considered as trades are being cleared.
Solution:
Developed a world wide trading and settlement system.
This system contained the abilities to link trades
across global markets and to prioritize trades according
to rules developed by the investment bankers.
Benefits:
The amount of risk in derivatives trades became greatly
reduced, and revenue to the bank increased as higher
priority trades were settled before lower priority
trades.
Case Study 4:
Client:
The client is a large insurance company, a major reinsurer
and provider of umbrella and additional riders.
Challenge:
Because insurance policies must conform to different
rules and terms in every state and national jurisdiction
where they are offered, creating the software to support
even a single new policy was a very long and buggy
task.
Solution:
Instead of checking the region on the fly as you edited
the policy, made the region, and any other variable
that could change the terms, creation variables that
caused the policy to be created from the beginning
knowing the terms associated with its region.
Benefits:
Took the process of creating a new policy from a 1
man year task to a 2 man month task, with the time
to pass qa review going from 3 months to 1 month.
Case Study 5:
Client:
The clients are in the insurance sectors. Companies
who deal with health and dental insurances, as well
as brokers and individuals.
Challenge:
All operations like the communications between the
brokers and the insurance agents and the clients involves
a lot of paper works and a lot of communications and
also the confusion in calculation of the rates depending
on the geographical locations and other factors.
Solution:
The client is a leading provider of Internet based,
business-to-business solutions that enable e-commerce
in the approximately $2.8 trillion global insurance
industry. The client's software applications and professional
services offerings are designed to meet the evolving
needs of carriers, distributors and buyers of insurance.
It's technologies leverage the power of the Internet
to streamline and automate the insurance distribution
process to facilitate end-to-end transaction processing.
Benefits:
- Real-time Internet-based quotes and proposals
- Plan filtering and sorting capabilities
- Persistent, retrievable group quoting information
- Census import functionality
- Health Plan tools for real time access control
and reporting
- Carrier resources including collaterals and forms
- Professional branded proposals, that can be personalized
by the broker/agent and accessed in PDF or HTML
formats
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