In 2009, Strate implemented a new Beneficiary Download System (BND) which automates and enhances many of the manual processes associated with providing disclosure of shareholder information to Issuers and clients. The automated solution serves as a solid base for building the business on a stable and robust platform in order to provide regular, accurate and more frequent disclosure to our clients.
The implementation team comprised members of Issuer Services department, Project and Innovation Management Office (PIMO), and Information Technology Division together with Zensar Technologies.
The following were some of the key requirements that were met:
- Reduction from almost a week to a matter of hours to process the Equities and Bonds Beneficiary Downloads
- Higher degree of automation has reduced the risk of processing Beneficiary Downloads manually
- The new BND platform is able to cater for increased volumes
- Continued to comply to legislative disclosure requirements
- Reduced the end-to-end cycle for weekly Beneficiary Downloads and ad-hoc processing.
- Streamlined the Beneficiary Download testing process
- Optimised internal procedures via automation
- Increased resource productivity
- Reduction in support costs, specifically the systemic and operational time to produce a BND
- Additional revenue opportunities
The project has been a massive success with both the business (internally at Strate) and with the CSD Participants and other clients. The utilisation of the PRINCE2™ methodology by Strate’s Project and Innovation Management Office (PIMO) and other supporting methodologies ensured that the project went in on-time, below budget and within scope. Supported by an extremely dedicated and professional IT division, testing team and business specialist team, the project is a significant milestone for Strate.
The implementation of this project further enhances our strategic goals of being customer centric; ensuring operational excellence; and effectively managing enterprise risk while driving innovation and market best practise.
For further information on this project, please contact the following: