The Russian financial markets are currently experiencing steady growth and development, resulting in the following features and trends:
- Continued growth of the number of participants and the amounts of transactions;
- Reduction of revenues from ‘traditional’ products and services;
- Overall trend leading towards the increase in rapidity and quality of service;
- Emergence of large international banks on the Russian market aiming to win large shares of the markets by offering more advantageous conditions;
- Increased competition among the providers of services; the need to constantly keep track of the changing preferences of the customers and to vary the offered services accordingly;
- Fast time-to-market of the new services;
- Increased mobility of both the users and the services;
- Urgent need to reduce the operating costs.
These trends stipulate the necessity of the implementation of industrial solutions, capable of
- Providing high-performance straight-through processing of transactions;
- Ensuring powerful analytical support of decision-making;
- Increasing the speed of documents processing by implementing the online docflow;
- Monitoring financial ratios in real time for large amounts of data;
- Reducing the risks inherent in the transactions;
- Quickly generating client reports;
- Working in a unified system with a wide range of financial instruments;
- Efficiently managing the institution’s financial resources;
- Flexible tuning of parameters as the business processes change and/or new types of transactions and financial instruments are introduced;
- Being scaled up for work in environments with multiple structural units and ever-growing number of customers and transactions;
- Coping with fast upgrades in case of new or changing requirements of the regulating authorities;
- Ensuring a high level of data security.
Large, multi-branch spatially-distributed institutions have the following features in common:
- Diverse business tasks requiring comprehensive approaches;
- Complexity and heterogeneity of corporate systems;
- Expectation of additional services from the supplier of IT services;
- Demand for optimum communication space and reduction of communication costs.
The increase in complexity and diversity of technologies and the need for quality full-featured services with ‘one-window’ approach and predictable financial planning call forth for the outsourcing of the above-mentioned tasks to a reliable partner capable or running incredibly complex projects for large companies and institutions. In other words, such partner as ISG.
ISG’s solutions for financial institutions
The services offered by ISG to the financial sector include a full range of consulting services as well as the implementation of the software solutions for banks, investment companies, brokers, management companies, insurance funds, pension funds, and other financial institutions.
The company incorporates the financial expertise division which consists of highly qualified financial analysts, business consultants, experts in the implementation and support of the financial software. ISG team possess a unique experience of running consulting projects and implementing financial software both in Russia and in foreign companies, and intimate knowledge of business processes and their corresponding business solutions. The deep knowledge of the financial business ensures good understanding of customer needs and successful projects complection in the financial sector.