Customer
Provider of financial transaction management solutions for about 70 of the world's top 100 banks.
Challenges
The client came to Elinext with an existing cash and liquidity management system used by major banks and cash managers to control and manage cash flows.
The development of the solution started more than 10 years ago. Over the course of time, its GUI became outdated and the performance could not comply with today’s standards.
The legacy system created complexities for the customer to acquire new clients as well as retain old ones.
Elinext has already worked with the client on multiple projects, gaining trust over time. The ability to compile the Agile team fast and work under tight deadlines set the stage for Elinext to be in charge of updating the GUI and developing new functionality.
Solution
When the project started, the client provided us with the design of a new system and a few user stories. Since some of the designs were outdated, the Elinext team was responsible for upgrading and approving them with the client during the implementation stage. Business analysts from Elinext worked together with the client’s product management team to prepare the backlog with user stories.
The Elinext BA team worked closely with the client to create, estimate and prioritize the backlog in order to get a clear product roadmap.
During the implementation phase, the team released a list of the following features and dashboards:
Features
- The Tree View feature for viewing and grouping balances by aggregates defined in the system.
- Export of balance and transaction data to CSV files.
- Snapshot feature for taking snapshots of the current balance. This feature is helpful for users who plan to make an investment decision and need a record of the current balance for justification purposes.
- Refresh feature, which updates the balance in a table while leaving the configuration of the whole page untouched.
- UI features — Manage Columns and View Options — which are used to configure the form of data representation in a grid.
- Favorites feature that allows users to save specific configurations of a dashboard as a favorite and then apply these settings in one click.
- Audit Timeline feature to view actions performed on a transaction such as when it was done and by whom.
- On-demand Sweeps feature that enhances the process of transferring money from one account to another.
- We extended the Cashflow Search feature by adding a new set of fields for advanced search.
- Creation of a Multiple Manual Adjustments feature that allows calibrating several balances at once with special attention to the resilience of the system.
- Save Configurations feature, which leaves configurations applied even after the page is refreshed
New dashboards
- Statements dashboard which displays incoming messages — for example, from SWIFT.
- Reports dashboard for viewing, creating and downloading BCBS reports. Additionally, the team enhanced the process of creating reports.
- Alerts dashboard which displays various balance warnings. For example, if it exceeds a certain amount, an alert about a breach shows up. Elinext added two features: a Snooze feature for postponing alerts for selected accounts and a Refresh feature for updating pages in a specific period.
- Static Data dashboard for managing, editing, approving and restoring static data entities in the system. The team introduced dashboards for Currencies, Calendars, Legal Entities, Regions, Lifecycles (partially), and Accounts (partially) with child screens.
The Elinext team was involved in day-to-day interaction with the client’s development, management, and QA teams. While working in Agile methodology from the management perspective, the team conducted regular internal and external retrospectives. Elinext made weekly governance calls to raise different questions, discuss obstacles and formulate approaches to resolving them in order to keep a smooth working flow throughout.
Results
Elinext delivered the upgraded cash and liquidity management system after a year of development. The solution gained better functioning, a new system design, and reworked usability. Because of these enhancements, the client will not only be able to retain current customers who were not satisfied with the older version of the solution — they’ll successfully attract new clients as well.
