Near-time Reporting Solution
This project has a closed domain.
A custodian holds the assets of pension funds, insurance companies and asset managers for safekeeping. With 9.400 billion Assets Under Custody, BNP Paribas Securities Services is one of the world’s biggest global custodians. BNP Paribas is acting as the custodian for an increasing number of pension funds, and plays an important role in many aspects of their clients’ investment processes.
The current financial markets, increasing complicated investment cycles and regulatory pressure requires pension funds, to be more on top of the latest developments of their assets and liabilities. Many of the services provided by BNP Paribas to their clients is done on an extremely professional way. Though, it was time to put the near-time reporting to a whole new -industry exceptional- high, new and innovative level.
The goal: Bring reporting and management information to an extremely high level of quality, availability and make this easy to work with for all their clients. A challenge, since the information consists of multiple complex calculations, data is coming from multiple internal and external sources and consists of several thousands of transactions and different reporting requirements.
BNP Paribas was looking for a company that could first of all understand their complex business domain, is able to design, develop and maintain this tool and is up for the complex challenge.
This is where VI Company stepped in.
Internally at VI Company we formed the dedicated team for BNP Paribas that was up for the job. From our head office in Rotterdam, BNP Paribas has been working with their VI Company team, consisting of three developers, one (UX) designer and project lead.
Finding a Fintech that understands your business is not easy. With VI Company we can say that we succeeded. The cooperation with them and the end result has shown that we have found a perfect match.
Maarten Mathot, Head of Client Lines, BNP Paribas Securities Services
We’ve started with an analysis phase where we performed multiple interviews, break-out sessions and sketches, with BNP Paribas Securities Services and their launching client for the new reporting tool: Ahold Delhaize Pensioen.
(…) The new platform gives us near-time and any time, the desired insights in our financial position and assets.
John de Waal, VP Finance & Risk, Ahold Delhaize Pensioen
Followed by multiple Agile sprints at VI Company with the team and great collaboration on a day-to-day basis with experts from BNP Paribas, we were able to launch the platform in several months. A platform that exceeded all expectations of the highest management levels at BNP Paribas. But more important their launching client Ahold Delhaize Pensioen.
Many thought it’s impossible: Working with a truly Agile mindset with a giant like BNP Paribas. But we proved that it could be done. Though, a high level of trust from BNP Paribas is required to embrace this mindset. BNP Paribas gave us this high level of trust and we succeeded together with BNP Paribas.
During the project, the back log (project requirements) changed multiple times: priorities where changed and user stories removed, added and adapted. While working with a fixed budget and deadline. Sounds hectic? Yes, that can be. However, when you facilitate your agile principles well enough, you should facilitate the one thing you know is certain in any project: Requirements change over time.
The launch of this platform is just a start of the collaboration with BNP Paribas Securities Services. A great roadmap is ready to further enhance the reporting capabilities for BNP Paribas and their clients. We’re looking forward to the long and intense collaboration with them.