Your Success Is Our Goal
We deliver IT solutions to some of the world´s most prestigious financial institutions, with a special focus on private banking and wealth management.
"SOFGEN has proven themselves to be valued and trusted partners to Bank Leumi Panama, with a unique level of expertise in the TEMENOS T24™ banking system space."
David Mamann, CEO, Bank, Leumi, Panama
Case Study #1 Rapid Response
A major investment bank based in New York City contacted SOFGEN when the two staff members supporting one of their mission critical systems left the company at about the same time. The system was processing more than $1 billion worth of financial transactions each night, making constant monitoring crucial.
Within a week, SOFGEN put a production support solution in place. The SOFGEN team supported the bank´s IT operations and also put in place documentation of the bank´s operational procedures for the first time. The client continued to utilize SOFGEN´s production support solution on an ongoing basis.
Case Study #2 Implementation First Aid
A major U.S. bank contacted SOFGEN for assistance two years into a system implementation that had originally been scheduled for a one year period. SOFGEN put a senior consulting team in place that included both technical and banking experts.
The team studied the project and within a month drew up a detailed white paper that described the project issues to date and specified all of the steps required to get the project back on track in the areas of project management, database administration and interface development.
Case Study #3 Follow the Sun Support
Unicorn Investment Bank in Bahrain encountered an unexpected, critical problem with its core banking system that required a fix within 72 hours. The problem spanned several international offices within the Shari´ah compliant company, which has branches in the United States, Malaysia, the United Arab Emirates, Turkey and Pakistan.
The problem was so complex that it required the intervention of highly experienced consultants, none of whom were available to travel to Bahrain in the timeframe required, so SOFGEN arranged a "follow the sun" strategy that had our most experienced consultants working remotely in shifts from various parts of the world.
The initial analysis was carried out in Bahrain with support from SOFGEN consultants in Belgrade. Then the problem was routed to SOFGEN´s Bahamas office, where a senior consultant worked on the issue remotely along with the client. A solution was put into place, and on the second day SOFGEN teams in Singapore and Hong Kong conducted tests using various transactions. The tests were successful, and on days two and three the Bahamas consultant completed installation and testing, meeting the tight deadline.
Case Study #4 Multi-Country, Multi-Site Rollout
Hypo Group Alpe-Adria has a large presence in former Yugoslavia offering retail and corporate banking services in 5 countries and has decided to deploy a single, integrated banking system throughout its operation, namely T24 R08. Project goals are to standardize the bank´s brand, to better monitor subsidiaries and manage risk and to help new offices get up and running as quickly as possible.
A strategic business review revealed that the bank´s existing mix of differing processes and organizational structures hampered expansion plans, and that the bank´s various technologies were not well aligned with the bank´s business objectives. The suggested solution, based as far as possible on Model Bank was to implement a unique organizational model before creating a single, standardized IT system for the bank´s offices over a three-year period.
Redesigning processes, system and organizational structures are improving the bank´s performance by cutting costs, boosting profits, optimizing technology and serving customers more efficiently. Implementing a single IT standard companywide is allowing the bank more effectively to expand its network, to reduce overhead and maintenance costs, to reduce training costs, to improve service quality and to improve branch oversight.
Case Study #5 Performance Enhancement and Archiving
An international provider of banking and insurance services to personal, business and institutional customers called SOFGEN when it found the size of its database increasing dramatically on a daily basis. The situation was putting a serious strain on evening IT activities such as backup and "close of business" transactions. It was also reducing the time available in the evenings for the deployment of new functions or the repair of trouble spots.
The company asked SOFGEN to replace its manual database operations system with an automated control system. SOFGEN installed its own proprietary software solution and spent a week testing the system and training company personnel to use the new system. Senior management at the client was so impressed with the performance improvements and overall effectiveness of our team that they asked SOFGEN to conduct an analysis of their overall IT performance.
Case Study #6 Cost Savings Due to Offshore Development
In Autumn 2008, SOFGEN S.A. redeveloped over 160 existing Avaloq reports for an International Wealth Management Bank in Switzerland. The SOFGEN Avaloq Development Center in Manila implemented these reports to what the bank considered an outstanding outcome.
The newly developed reports were transferred from our offshore center to the client as per the originally agreed timetable. The client expressed that they were very pleased both with the quality of the results and with the substantial cost savings realized. The total costs of improvement were significantly lower than if these had been carried out locally, which allowed our client to apply the savings to other areas of the project.
