MiFID II Impact Analysis & Process Review
Our financial services client needed to understand the impact of the new MiFID II regulations on their business in order to plan a change programme to minimise manage risk, achieve compliance and ensure minimal P&L impact.
FutureProof designed a data model and algorithm to assess the impact and risk of MiFID II on their current financial products and client base. The model predicted the risk on an investment product basis and modelled the potential impact of compliance. From the data, different “whatif” scenarios were modelled and a strategy and high level plan produced.
Investment Fund Consolidation Planning
In order to realise identified cost savings of over £2m our investment management client needed to plan the consolidation of their investment portfolio from over 2000 funds to under 500. The business impact, benefits, platform coverage and concentration all needed to be modelled with multiple stakehoders to find the optimum proposition.
FutureProof took a complex data model and produced a simplified data structure, normalising data from multiple platforms. This was presented to the user by a custom built web application with interactive visualisations to enable different scenarios to be modelled and tested.
Application Migration to Cloud Platforms
Our large financial services client had a complex portfolio of over 2,000 business applications. Having recently signed a deal for cloud services from a leading vendor they needed to plan the migration of applications from on premise hosting to cloud platforms. Recognising that not all applications were suitable for cloud platforms they needed to quickly assess the portfolio in order to plan a mutli-year application migration Programme.
The client used FutureProof’s CloudScore® service to rapidly assess an extract of application data from their Configuration Management Database (CMDB). Each application was processed using FutureProof’s proprietary algorithm and scored for Risk, Complexity and Business Benefit. From this an overall score (the CloudScore) was produced for each application showing its suitability for cloud. FutureProof also brought in other key application data including service availability, investment and datacenter locations and presented the data via interactive visaulisations enabling the client to see a cloud view of their estate and plan their migration. The benefit of using CloudScore® was to cut the planning time in half.
Complex Data Transformation and Migration
Our client needed to migrate to a new enterprise wide learning management solution. Their existing solution was developed in house and had grown organically over many years. Much of the data was inconsistent, duplicated and did not conform to any kind of industry standard. Downtime had to be minimised and no data could be lost during the migration.
The data was carefully analysed and mapped to the new system, bespoke tooling was developed to normalise and clean the large and complex sets of data contained within the legacy system. The tooling could be run in stages to ensure all historical, archived and live data was migrated to the new system during the implementation. Automatic error checking and testing was built into the tooling. The bespoke automated data migration tooling was critical to the success of the overall project which could not have been achieved manually.