Transforming Middle Office Operations for a Legendary US-Based Asset Manager

In the rapidly evolving asset management industry, traditional firms are facing fee compression and immense pressure to enhance operational efficiency while reducing costs. The need for technological modernization, streamlined client onboarding processes, and expedited product launches has never been more critical.

This case study explores how Infosys collaborated with the oldest asset management company to restructure their technology landscape and business operations. By leveraging advanced digital tools and implementing a comprehensive client onboarding platform, Infosys delivered substantial business benefits and opened new revenue avenues, reducing cost of ownership positioning the client at the forefront of the industry.

About the Client

The client is one of the world's oldest asset management companies, credited with pioneering the mutual fund with more than $600 billion in assets under management. Client engages with portfolio companies to understand and influence factors impacting long-term value. The firm leverages diverse perspectives through active collaboration to strengthen investment convictions and utilizes a global research platform to integrate local insights with cross-sector, geography, and asset-class information sharing.

Challenges

The client faced technology obsolescence and significant operational hurdles. Their complex web of multiple legacy homegrown systems, each catering to different desks and asset classes, led to operational inefficiencies and errors. The reliance on legacy systems and manual processes amplified these issues, resulting in high technical debt, operational risk, and substantial support costs

The key issues were:

• Multiple legacy systems with high technical debt and substantial support costs.
• Manual processes lead to operational inefficiencies and errors.
• Fragmented and lengthy client onboarding process spread across various systems.
• Inefficient new product launch process on CRD platform

Infosys Solutions

Infosys partnered with the application organization to modernize multiple Middle and back-office applications. Utilizing the Microsoft Power Platform ecosystem, Infosys developed an advanced workflow-based client onboarding platform. This sophisticated platform seamlessly integrated with the client's existing systems, providing a unified solution for onboarding. The transformation greatly improved transparency and operational efficiency. Additionally, Infosys collaborated with the Asset Manager on technology enhancement initiatives to reduce technical debt and enhance agility for new product launches. Infosys optimized the client's investment operations through careful transition and decoupling to an offshore-based hub strategically designed for efficiency without any client disruption.

Business Benefits

The impact of Infosys' integrated technology and operations solution implementation was substantial. Regression testing using new UI based business flows in TestComplete was successfully implemented representing “Day in a life” of a user. Infosys managed 100% transaction processing and auditing across all six operational processes using a fully offshore model with over 60 dedicated team members. The transition commenced in January 2024 and was carefully executed in two phases, culminating in a fully operational system in six months.

Infosys' intervention led to significant improvements, including:

• 50% reduction in regression execution time duration leading to faster product launch
• 25-30% reduction in onboarding time using the new modern client on-boarding application
• 30% reduction in the cost of running the business operations and improved service level performanc

This case study demonstrates the considerable business benefits achieved through strategic technological integration and operational optimization.

Get in Touch

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