Mantra's BFSI Advantage

A huge area of risk for a any when undertaking an IT initiative is in specifying business requirements, particularly for a large initiative. Mantra has proven leadership in this area, and Mantra provides customers with a reusable process repository that they can build on for other purposes. This is what distinguishes Mantra from competitors.

The Mantra team has accumulated an extensive track record of experience working with leading international banking and financial solution providers. Today, several of the most prominent financial institutions on Wall Street rely on the custom software solutions developed by Mantra. With

BFSI Expertise
Mantra’s experience in this evolving industry environment will help your firm adapt successfully to the latest technology-driven trends, transforming your business processes -- and your business -- in the process.

• The benefit and security of our established presence in the BFSI domain.
• Our lengthy track record of successfully-implemented small and large projects for leading financial institutions.
• Deep domain knowledge in:
  • Consumer finance
  • Commercial banking
  • Securities
  • Corporate and investment banking

BFSI projects
Over the last several years, the Mantra team has successfully undertaken many testing and development projects for several mid-size and large financial institutions in the US, UK, and Canada.

One of Mantra’s most high-profile successes involved the development of a custom Commission Management Utility (CMU) for one of the largest banks in the United States. Using Microsoft .NET technology, Mantra developed a user-friendly smart client application designed to capture, allocate, disburse, and report commission, taking currency fluctuations and trends into account. The project also involved the development of a commission recapture client with multi-currency support for the management and administration of commissions and payments.

Case Study: Commission Management Utility (CMU)

Customer – Large Financial Institution in NY

Domain - Financials

Challenges – Customer needed to bring new version of product to the market faster, reduce the support cost of old, complex app, ability to find and retain the resources to work on old technology, realign current resources team towards newer version

Mantra’s Solution – Mantra worked very closely with management and IT teams and designed 4 tier smart sourcing solution. Off-shoring was just a 1 tier. Entire project was broken in to 22 milestones with proactive risk mitigation process for all milestones.

Value Addition
• New product was beta launched 6 weeks ahead of schedule.
• All 22 milestones delivered on time,
• 41% reduction in maintenance cost of old app,
• 22% reduction in support calls through code enhancement,
• 12 hour turnaround time on level 1 and 2 defects in old application.