Redefining the Investment Research marketplace


The introduction of aggregated distribution channels and an ageing technology platform has placed significant pressure on a traditional Investment Bank’s Research business to remain relevant in an ever-changing environment. By investing in a Digital platform offering a range of products, the bank aims to create a new multi-million-dollar revenue stream, servicing their global client base.

Overview of the client’s needs

The bank’s research business faced increasing pressure to generate revenue in a competitive environment. The volatile revenue stream was dependent on a manual client servicing model, reliant on an aging technology base – inhibiting the bank’s ability to provide a unique and compelling service.

In addition, new regulation from EU compliance authorities (Markets in Financial Instruments Directive – MiFID II), has impacted how clients would pay for access to the bank’s intellectual property.

Hypothesis involvement

By embedding skilled resources into a core team located in multiple geographies (Sydney, Hong Kong, London and New York), Hypothesis partnered with the bank in defining its product vision, feature set and implementation approach to ensure a quality product was delivered to their clients, fast. Leveraging the “Hypothesis way”, the team delivered business value within weeks of initiating the engagement.

The trifecta of Design Thinking, Agile and Lean Start-up principles enabled Hypothesis to partner with the Investment Bank’s Securities Research business to redefine its product offering. This resulted in the creation of a new revenue stream within the bank and a change in the bank’s approach to product.

Assess: Duration | 1 month | Resources | 3

Design Thinking facilitated workshops were conducted with core business stakeholders to translate the product vision into a high fidelity prototype, which in turn identified the various personas with the appropriate user journeys.

Embed: Duration | 9 months | Resources | 10

An assessment of the team’s understanding of Agile (Scrum) was conducted. Scrum ceremonies and Agile training was quickly initiated by the Hypothesis Agile Coach. Measurement of the team’s effectiveness was monitored through key metrics completed at the end of each sprint.

Engineering practices were aligned to Extreme Programming (XP) principals. Daily builds, continuous integration, automated unit testing, test coverage metrics and automated infrastructure builds were implemented during the lifecycle of the product, supported by, Amazon Web Services and Cloud based technology services.

Transform: Duration | 6 months | Resources | 10

The team broke ground for the bank, driving the Agile and Cloud agenda within the Digital workplace, changing how the bank undertakes delivery.

Transition: Duration | 2 months | Resources | 2

By reinvigorating the Agile approach through continuous improvement and Lean Start-up practices, the team focused on removing technical debt, implementing multiple releases per day and evaluating metrics (usage and system performance).

Value created with the client

Numerous benefits resulted from the engagement, including;

  • Releasing a minimal viable product to new and existing clients within 6 months. Enabling the bank to engage clients on a trial basis to obtain feedback, which in turn was incorporated into the end product.

  • Implementing Rapid Prototyping, Agile and DevOps practices, reducing the overhead associated to a separate development, support and operations team.
  • Identifying opportunities to further reduce operational expenditure within the Securities technology environment. A new Research App was developed by the team, reducing licensing fees with external providers.

 

If you are interested in understanding more on how to cost effectively, experiment with products that will excite your customers and grow your bottom line, send an enquiry through to info@hypothesisconsulting.com.au to reach out to one of our experts.