For more information about Luxoft, visitwww.luxoft.comwww.luxoft.com/financial-services/case studyFX Position Keeping andN...
Business ChallengeLuxoft Delivered SolutionBank FX Treasury Sales department was not able to track the performanceassociat...
03Luxoft - Case StudyAlthough Bank IT was technology agnostic, to minimize the TTM andfuture TCO, Luxoft proposed implemen...
04Luxoft - Case StudyBenefitsCustomer FeedbackBank received fully functional and extensible System, which implementedall t...
About luxoftLuxoft, a principal subsidiary of IBS Group, is a provider of advancedapplication and software engineering out...
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Case study luxoft fx position keeping banking luxoft for top3largest bank in russia

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Case study luxoft fx position keeping banking luxoft for top3largest bank in russia

  1. 1. For more information about Luxoft, visitwww.luxoft.comwww.luxoft.com/financial-services/case studyFX Position Keeping andNetting System for TreasurySummary13.09.2012System is used by FX Treasury Sales who are responsible for quoting FX rates forcommon and privileged customers of Bank. System tracks all possible FX ratesfor different types of Bank customers, keeps track of conversion orders, formsconversion batches and calculates actual FX rates and P&L.uu Client: TOP 3 largest bank in Russiauu Business Area: Retail Banking, Corporate Bankinguu Asset Classes: FXuu Technology Set: ASP.Net, MS SQL Server 2008, Reporting Services,Web Services, MSMQ, IBM Message Brokeruu Integration: Internal systemsuu User Profile: Treasury FX Salesuu Geography: Headquarters and local branches in Russiauu Relationships Status: Ongoing, Fixed Priceuu Services Provided: Full cycle: Business analysis, Development,QA/Testing, Maintenance.uu Team Size: 13 members at peakuu Duration: 8 months
  2. 2. Business ChallengeLuxoft Delivered SolutionBank FX Treasury Sales department was not able to track the performanceassociated with FX conversions within the sufficient accuracy order. Thereasons were the broad variety of Client rate plans and the actual ratedependence on many factors, such as:uu Order amount (there is a special threshold, an order that exceeds thethreshold is converted using privileged rate).uu Different rate plans (common and standard rates, rates pluscommissions, privileged rates).uu Constantly changing market conditions and actual Trader rate.Bank FX conversion order is processed in accordance with the workflowdepicted below.Bank was actually lacking profit, because of the inability to make preciseand quick calculations and keep history of conversion operations.The business processes automatization challenge was exacerbated bythe fact that the information sources for each operation were alwaysconstituted by several systems: one for the current exchange rate, one forthe client status and one for the rate type.Time to market for the first version of System was of very importance forthe business – the release had to go in Production in a month term from thedevelopment start.Luxoft has proposed, designed and implemented System that automatesFX conversion process in Bank and complies with all the needs andrequirements of Bank Treasury Sales and IT.02Luxoft - Case StudyCREATEORDERCREATEORDERS BATCHINITIATETRADER TXEXECUTEBATCHCALCULATEPNL
  3. 3. 03Luxoft - Case StudyAlthough Bank IT was technology agnostic, to minimize the TTM andfuture TCO, Luxoft proposed implementing System based on Microsoft .Nettechnologies, including MS SQL Server 2008 and ASP.Net 3.5. The choicewas dictated by the fact Bank already had MS SQL Server infrastructuredeployed and had other systems built on .Net technology.The client part of System is implemented using traditional WinFormstechnology which gives the ability to use System in a traditional mannerwith intensive usage of shortcuts and keyboard instead of mouse. The clientpart does not contain any business logic and serves as pure UI componentresponsible for user interaction. The client part is connected to the server-side part by means of traditional Web Services technology and hence caneasily be replaced by other UI technologies, such as ASP.Net, Silverlight ormobile device-based ones.The server part of System includes business and data-access logic. Theserver side also comprises infrastructure logic, such as Authenticationand Authorization, Integration and Notification. The sever side includesReporting subsystem that is responsible for flexible reports generation.Authentication subsystem is implemented using embedded authenticationservice that stores user credentials in System database. However, the servicecan be substituted by an implementation that is integrated in the corporateauthentication framework such as LDAP or Active Directory.System can be deployed in different configurations starting from a simpleone-host based solution and stretching the configuration to a highlyavailable multi-host solution with NLB and database clustering.System uses MSMQand IBM MessageBroker for integra-tion with CRM andABS.WINDOWS SERVER2003 BOXBUSINESS LOGIC LAYERORDER ENTRYAND LISTINGRATES AND SPREADMAINTENANCECLIENTS ANDDICTIONARESMAINTENANCEUSERADMINISTRATIONWS INTERFACELAYERMS SQLINTEGRATION SERVICE(EXPORT / IMPORT)MS SQLSERVER 2008MS REPORTINGSERVICESMSMQSTATEFULL CONNECTIONLAYERDATA ACCES LAYERAUTHENTICATION ANDAUTORIZATION SERVICESNOTIFICATION SERVICES
  4. 4. 04Luxoft - Case StudyBenefitsCustomer FeedbackBank received fully functional and extensible System, which implementedall the needs, in accordance with the schedule.System fetches rates from ABS and client data from CRM and receivesnotifications about client status change – so as to react rapidly on anychanges in client status or rate plans. System provides the ability to importconversion Orders in bulk in case a set of Orders are coming from somelegacy subsidiary in a form of an attached Excel file. Comprehensivereporting capabilities of System allow end users and Sales Managers totrack current statuses of client conversions, P&Ls and overall departmentperformance.All user activity is logged and can be reviewed, limiting the possibility ofSystem misusage and erroneous rate quotation.System took all the burden of keeping track of orders and client statuses,rate plans, current market conditions and conversion histories. The featuressubstantially reduce the operational costs and increase the transparency ofThe detailed feedback is provided upon the specific request
  5. 5. About luxoftLuxoft, a principal subsidiary of IBS Group, is a provider of advancedapplication and software engineering outsourcing services for global andregional enterprises. Luxoft builds partnerships with its clients, such asBoeing, IBM, Deutsche Bank, UBS, Harman, Avaya, Alstom, and Sabre, basedon the culture of engineering excellence, innovation, and deep domainexpertise. Luxoft offers international delivery capability through its networkof state-of-the-art delivery centers in North America, Eastern Europe, andAsia. Luxoft`s customers benefit from the right mix of technology skills,industry knowledge, proprietary processes and methodologies, and achoice of engagement models.For more information about Luxoft, visitwww.luxoft.comwww.luxoft.com/financial-services/© 2012 Luxoft

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