Financial & Banking Product Development Solutions
Mantra has successfully implemented several projects in Banking, Financial and Insurance domain. One of Mantra’s most high-profile successes involved the development of a custom 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. This was a huge task, especially, considering Mantra’s early stage. But Mantra team successfully deliver that projects over the course of 18 months (meeting all 22 milestones) and has, since then, delivered many other projects.
Within BFSI, Mantra has deeper domain knowledge and experience particularly in:
- Capital Markets
- Commission Management
- Trade Management
- Custom Reports and Dashboards.
- Debt and Legal Industry
- Collection Software
- EDI Exchanges, Mappings, Formats and translation
- Accounting, Reporting,
- Legal custom software for attorneys
- Highly secured, SAS70 compliant apps.
- Reports and BI
- BPO / KPO
- Document Processing
- Claims Processing
- Data Entry
- Data Warehouse / BI
- Data mining, integration and transformation
- Dash-boards
- Reports, Custom Reports, Reports Automation
- Quality Metrics, Scorecards, Benchmarks
The Mantra team utilizes a range of different tests depending on the type of application or product that is being reviewed. In addition to our standard array of assessments, we can develop custom evaluations to meet your unique needs.
Case Study: Large Financial Institution in NY
Project – Outsourced Product Development (OPD)
Domain - Banking and Financial Services
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.
