Modernizing financial decision support
Empowering teams and clients with intelligent data integration and streamlined processes
Project Overview
Credit Suisse partnered with MicroAgility to:
Revolutionize their decision support system through strategic consulting and comprehensive program management
Credit Suisse is a leading global wealth manager with strong investment banking capabilities
They strive to deliver innovative solutions that meet the complex needs of their clients in a rapidly evolving financial landscape. Their commitment to excellence drives them to continuously improve their systems and processes, ensuring they remain at the forefront of financial services.
The stats of Credit Suisse
Billions in Assets
50,000 employees worldwide
150 years of banking history
THE Fact
In 2024, 88% of financial institutions see modernizing legacy systems as crucial for staying competitive and compliant.
The Core Problem We were tasked with
The problem:
Credit Suisse's VRG-Valuation Risk group used outdated, manual systems that hindered decision-making and data analysis.
- Multiple legacy systems, some over 20 years old, created data silos and inconsistencies, making it challenging to gain a holistic view of valuation risks..
- Manual processes were time-consuming and error-prone, reducing the team's ability to respond quickly to market changes and regulatory demands.
- The lack of integration between systems led to delayed reporting and reduced confidence in data accuracy, impacting strategic decision-making.
- Outdated technology limited the ability to implement advanced analytics and business intelligence tools, putting the team at a competitive disadvantage.
Key Stats
Additional challenges to overcome
01
Ensuring business continuity while transitioning from legacy systems to a modern, integrated solution.
02
Balancing the need for comprehensive system overhaul with the delivery of incremental benefits throughout the project lifecycle.
03
Aligning diverse stakeholder groups on project priorities and the roadmap for implementation.
04
Implementing a solution that not only solved current issues but also provided flexibility for future technological advancements.
In a nutshell
The challenge was multifaceted
Credit Suisse needed to transform its outdated, fragmented valuation risk systems into a modern, integrated platform that could provide timely, accurate insights while improving operational efficiency and adaptability.
Implementing the Solution
The solution:
We conducted a comprehensive assessment of the entire environment, encompassing 10 systems from front to back office operations.
Our team developed an SOA-based approach to upgrade the complete environment, including the replacement of all legacy systems with a focus on user experience and data integrity. We applied Lean Six Sigma principles to create a strategic roadmap that delivered benefits at each implementation stage, ensuring continuous improvement and stakeholder buy-in.
Throughout the project, we provided robust program management services, including issue tracking, release management, change management, and risk management, ensuring the project stayed on track and within budget. By consolidating data sources and implementing advanced analytics, we enabled faster, more accurate reporting with significantly reduced operational costs.
This modernization effort, driven by our comprehensive project management approach, increased report generation speed, improved data accuracy, and reduced operational costs
OUR WAYS
Strategies employed
01
Conducted in-depth analysis of core processes and customer needs to inform system design and prioritization.
02
Developed a "Voice of the Customer" strategy to ensure the new system met real-world user requirements.
03
Implemented a phased approach, balancing quick wins with long-term strategic goals to maintain momentum.
04
Coordinated cross-functional teams to ensure seamless integration of technical solutions with business processes.
05
Utilized Lean Six Sigma and PMI methodologies to optimize processes and ensure project success.
10 Legacy Systems
Modernized and unlocked for greater efficiency
20+ Years of Data
Seamlessly integrated and leveraged for insights
Integrated Approach
Lean Six Sigma, SOA, Advanced Analytics
THE RESULT
Impact that speaks volumes
Our modernization enhanced technical capabilities and transformed the VRG-Valuation Risk team's operations for better decision-making and agility.
THE OUTCOME
The new integrated decision support system now provides real-time insights for the VRG
Accurate risk assessments lead to faster, more confident decisions, boosting Credit Suisse's market position. The platform now processes data from 10+ sources in real-time with 99.9% accuracy
Here is how it impacted the people involved
Grassroots Level
The Impact on Credit Suisse's customers
Clients, once faced with delays in valuation assessments and risk reports, now receive near real-time insights tailored to their investment portfolios.
With access to more accurate and timely risk assessments, customers can make more informed investment decisions and respond quickly to market changes. Clients reported increased satisfaction with the speed and quality of valuation risk reports and advisory services.
Enhanced Investment Decision-Making
Improved Risk Understanding
Faster Response to Market Changes
More Personalized Financial Advice
Organizational Level
The impact on Credit Suisse
By modernizing its valuation risk systems, Credit Suisse achieved significant improvements in operational efficiency, risk management, and regulatory compliance.
The new integrated platform enabled more sophisticated risk modeling and scenario analysis, enhancing the bank's overall risk management capabilities. Regulatory reporting time decreased while the accuracy of risk assessments improved, strengthening the bank's reputation and competitive position.
More Agile Risk Management
Improved Regulatory Compliance
Enhanced Competitive Position
Increased Operational Efficiency
"MicroAgility's modernization of our valuation risk systems has been transformative. Their expertise reimagined our risk management approach, resulting in a more agile, confident, and effective team for today's financial markets."
Belal Khalid, Director – Product Control, Credit Suisse
Here's what we can learn from this case study
The successful modernization of legacy systems in financial institutions demonstrates the power of combining strategic planning with a people-centric approach to technology implementation. By focusing on user needs, process optimization, and phased delivery of benefits, organizations can transform their operations, empower their teams, and achieve a significant competitive advantage in the rapidly evolving financial services landscape.
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