One of the Russia’s and the CIS’s largest independent companies in the field of investment management. The company has control over the assets that are in excess of 155 billion rubles (as of
In spring 2007, the Group launched a solution development project to support sales of investment units of mutual funds in its own sales office and sales points of its agents, i.e. banks and investment companies. The project was opened in connection with the Group’s needs in terms of solution creation that will provide coordinated operation of information systems of the Group and their partners — Special Registrars.
At the moment, the solution is developed and used by the Group in terms of commercial operation. It includes 8 information systems interacting in the SOA ideology. The specialized system implemented on the basis of the
The solution created allows the company to:
- connect new agents to the sales network of mutual fund shares in the shortest possible time;
- provide, in all sales points of shares, for the unified service to perform operations on the entire spectrum of documents related to the purchase, redemption, and exchange of mutual fund shares;
- organize an effective record of operations with investment units of all information systems involved in dealing with applications for shares; in particular, to transfer, in the shortest possible time, the information to the Special Registrar and to receive notices therefrom, confirming the transaction.
In spring 2007, «Renaissance Investment Management» Group of Companies started preparation of the
In this situation, «Renaissance Investment Management» Group of Companies has adopted a number of decisions:
- to introduce a new
back-officesystem for the record of the passive operations with investment units; use the «old» back-officesystem for the record of the active operations in the market, i.e. operations that accompany the purchase of assets;
- develop and implement
IT-solutionthat: a) will make it possible to create a common space for customer service of own sales offices and agents' sales points, b) provide for tools to agents for fast and high-qualitycustomer service, and c) provide for high speed processing of applications to perform operations with investment units.
In the framework of the first project stage, which took 3 months, Neoflex experts have:
- studied business processes of sales of mutual fund shares, including the interaction between management companies, agents and Special Registrars;
- developed business requirements for the implementation of solutions to support the work of managing companies in the market;
- developed, based on the requirements collected, a
This architecture implied automating business processes involving the sale of shares of a number of specialized systems of management companies: the
Following the approval of the solution architecture by the customer, Neoflex has developed the terms of reference for its key components, such as application processing system to perform operations with shares of mutual funds and integration solution.
Further, the customer has issued a tender for selection of the solution component and contractors. In September 2007, Neoflex won the tender to develop the application processing system to perform operations of mutual funds on the basis of
into commercial operation.
The application processing system to perform operations with shares of mutual funds provides the point of sale, wherever they are located, with a full range of operations with investment units, as well as unified service to work with client information — support for customer identification, standardized management of identity documents, address information and bank account details of customer accounts.
Within the system, more than 10 business processes was sold to ensure the implementation of operations on registration of purchase of shares and their exchange, sale, and so on. Each process is initiated by a particular type of documents coming fr om customers in the sales points of shares. Among these documents are:
- application for purchase, redemption, exchange of investment units, etc., including the applications for the cases when the operation is performed by the broker or trustee;
- contract of sale on the secondary market and the transfer order;
- applications regarding changes to the questionnaire of the registered person, or opening of the account, or extract provision.
Each process automates the full cycle of work with the application for the purchase, redemption or exchange of the unit — from registering the application in the system to preparation the client’s documents confirming the fact of the operation. In particular, the system provides for control over the correctness of filling the applications taken by agents, operational control of the course of the application acceptance in the management company and the Special Registrar, getting reports for the conduct of operations.
The process involves the steps of forming the tasks performed by the employees of the management company and its partners, and those steps, during which the system sends information to the systems of the management company and the Special Registrar, or requesting information therefrom. At present, during the process of processing the application to perform operation with the shares involves 8 information systems. In particular,
- application on shares is transferred to the
back-officeand accounting system of the management company for its record;
- application for its registration is transmitted to the Special Registrar’s information system, then the registration data is transmitted in the accounting systems of the management company, wh ere the new status of the application for the operation with the shares is recorded, and so on.
Thanks to the
Neoflex started gathering business requirements to the
Following the approval of the solution architecture by the customer, the terms of reference for the integration solution and
A system for processing applications to conduct operations with shares of mutual funds was developed based on the industrial
The logic of the processes implemented in the system is provided by means of the
The system is implemented in a
The Implementation of a new system provided a reduction of customer service time and transaction processing time with the investment units. This is achieved, in particular, by automating the processes of referring applications (for purchase, redemption and exchange of mutual fund shares) to the Special Registrar to confirm the transaction and receipt of its notifications.