Retail equity system goes live
This system enables the bank to handle large volumes of trade for capital protected products. "It involves the conception of workflows to link the various roles and responsibilities of Front-Office and Operations thereby giving a reliable and fully auditable way to formalise the business in such a way that it can be grown in the future", says Shashi Hansjee, Entelect's lead on the project.
The live switch over has been exceptionally smooth, without any problems. "The team really did do a great job on this project and the business is really happy with the system", says Penny Futter, Standard Bank's project manager. This is one of the smoothest, trouble free projects she has ever been involved in at the Bank.
Entelect's bid for this project was a stressful at the time, as the bid was against an established financial services vendor. "We believe we won the project because of our approach, which was hands on with the business from the beginning. We understood the essence of the project on hand, committed to short timelines and our pricing was competitive", says programme manager, Martin Naude, who invested a lot of time with his team on risk to develop a proof of concept prior to being awarded the project.