Case Study - Presentment
After initial meetings with the customer's business and IT teams
to specify requirements, Statement Solutions embarked on a complete
analysis of the system. From the collection and normalization
of data to the proposed output data for the individual users.
Two different but suitable solutions were designed and presented
Once approved, Statement Solutions developed the processing engine
that combined/normalized/validated the data. The proprietary software
was designed so that additional modules could be added and implemented
as data sources were changed or added.
The web servers were setup with load balancing and advanced resource
management. Test data was loaded and the system underwent a complete
test regimen that lasted 45 days and contained over 50,000 individual
With testing complete the system went live with a year of user
data 6 months after the project was initiated. Training of the
IT staff was completed and the management of the day to day operations
were transitioned to the internal IT department. Statement Solutions
continues to monitor and maintain the external web servers and
to ensure that uptime of the data is 99.95%.
To carry the two most recent years of
information per client online. Aggregate all of a client's accounts
and show combined balances and individual details for all accounts.
Present equity trading, money market fund, mutual fund and checking
account activity and detail. Ensure security and privacy while
using single client login authentication solution. Have the data
available to the client 24/7. Service ease of use was paramount
because the online access service needed to motivate 15% of all
clients to receive all current paper documents online rather then
through the mail.
Data was supplied in different formats from three discreet data
sources. The data was combined, normalized and validated and then
placed in a SQL database for manipulation and output generation.
Templates were designed and implemented for each account type.
Data was passed through the templates and converted to Adobe PDFs
for onscreen display and for possible local storage by each client.
Customized authentication software and protocols were developed
so clients could use their existing account logins and passwords
for access to their statements, confirms and other account documents.
A maximum of four clicks are required to reach any specific functionality
within the service.
The brokerage saw 21% of its existing customer base move to online
only distribution of client documents. Additionally there was
a cost savings of over $100,000 in saved postage and paper costs.
Equally important were the savings in time and effort to supply
additional copies of statements to account executives, interested
parties and to clients for prior period reports. Finally, brokers
and clients had instant access to client documents to ease communications
in real time via the phone on account standing or proposed moves.
The system is designed
to maximize throughput and uptime. Special attention was given
to ease of use, especially for user navigation and overall system
speed. Due to the large number of potential users, the system
was built with integrated load balancing and resource allocation
as well as fault tolerant data backup.