Collaboration Portal Development To Streamline Financial Operations [Case Study]

Communication and collaboration is an essential component for financial services sector today. With different departments co-existing within one organization, a new wave of digital transformation is much needed to reduce friction and simplify operations.

A revamped fintech ecosystem with access to the best tools and technologies helps improve the value for the customers. It helps satisfy not the end-customer demands but also enables staff to respond in a fast, informed manner. A unified communication experience can make it easier for people to find, reach, and collaborate securely with one another.

Learn how Rishabh Software helps unlock the innovation for organizations in the financial services industry. For a US-based financial services firm, we developed a collaboration platform that eases the management of a variety of routine office tasks. We have been pioneers in adopting customer-centric software and systems. This satisfies customer demands as well as enable staff for fast, informed responses.

Our client provides industry-leading working capital solutions to businesses across the world with innovative financing tools. They were in pursuit of creating a single-workplace portal that offered the admin and employee users to submit their assignments, review account information and retrieve various reports.

As part of the mandate, they wanted us to:

• Develop a web-based collaboration platform that offers client’s administrator and employees to carry out back-office work such as managing customer documentation, update customer information, allocation of service accounts and report generation.
• Build a document sharing portal that would allow the teams to generate various reports, i.e., client ledger, cash receipts, and more to be viewed and downloaded.

• Lot of time spent in servicing customers via emails and calls
• Automation of standard notifications to customers
• Extending support to customers will require increasing resources or extending work hours
• Performance impact of 300GB of the enormous database

We developed a client portal that provides the end customers with self-service options. The solution enabled the staff members to perform the following:

• Assignment Submission – Easy submission of assignments via web-based document collaboration portal directly without having to email details to the company or talk to a representative on the phone. It allows the company employees to review the submission and follow their approval process. The outcome of the approval process would be notified instantaneously via the portal notification mechanism.
• Access to Account Information – Each of its clients will have one or more active accounts in operation. The team collaboration portal would enable the staff member to assign these accounts to the end customer. It will allow on-demand access to account information to the client.
• Reports – The company’s clients get access to accounts earlier via crystal reports. However, it did not provide a wide range of information. Devexpress reports were used to generate more reports while retaining crystal reports for the current information. Using Devexpress also resulted in a better experience for the clients.

The other essential aspects of collaborative portal development were security and performance. The system was designed using an entity framework with a custom repository technique. The flexibility of the framework and implementation of ADO.net were combined to address the solution needs.

• 24×7 access without extending hours
• Greater flexibility via on-demand information access
• Improved Turn-Around-Time (TAT) by around 40% bypassing waiting on return calls or emails
• One-Click notification broadcast
• Improved customer experience evident by customer feedbacks
• Enhanced customer satisfaction by reducing the handling of overly high-volume of questions via traditional channels

To conclude, Rishabh Software team delivered the end solution within the stipulated timeframe. It has helped them empower their customers to self-service their accounts, resulting in improved customer engagement.

• .Net Framework 4.6.1
• Dev express version 18.2
• Microsoft SQL Version 2016