Capital Markets

One of the largest independent broker/dealers in the United States was going through a rapid expansion cycle in a heavily regulated industry. The client needed to improve the profitability of their service while ensuring compliance with Basel II, SEC and Patriot Act regulations.

Their business processes were inefficient due to the manual steps in processing paper-based information. This resulted in slower processing, longer turnaround time and escalated costs of managing documents and storage.

Exigen applied IT 2.0 Regulatory Compliance and Operational Innovation business solutions to transform operations to a completely paperless and compliant environment with lower costs and faster processing.

Results

• Enabled the client to expand their market reach throughout the banking industry while dramatically improving online access, annotation and management of customer files
• Delivered a 30-50% increase in dealer and broker productivity creating incremental revenue opportunities
• Produced 100% document compliance with NASD/SEC regulations enabling communication records auditing

Following, are some of the IT 2.0 ingredients used to deliver these results:

Contract – a Performance Based structure that focuses on improvements to operating metrics

• Meeting compliance requirements
• Improved efficiency, processing, and turnaround times

Methodologies

• Exigen's Value Assessment identified the key issues and bottlenecks of current paper-based systems and enabled transformation to a paperless environment
• Exigen's Regulatory Compliance Assessment enabled transformation of business processes within regulatory requirements

Technology

• Exigen Process Backbone has rules and workflow definitions for regulatory compliance and operational efficiencies in capital markets

Delivery

• Provisioned Exigen's Managed Services for hosting environment