Facing sharper competition and pressure on prices, our client decided to drastically reduce costs, and implement high-end Hub Servicing. This challenging initiative was successfully implemented thanks to MEGARA. Our client selected MEGARA to be used in a single operations centre, connecting directly to local CSD.
With MEGARA, this challenging new model is now a reality.The project was completed within 20 months, because of MEGARA’s flexibility for local parameterization . STP indicators increased drastically, and our Client is now ready to cover many additional markets.
The previous platform was a complex network of legacy applications, under heterogeneous technologies, both expensive and highly risky: upgrading for more scalability seemed impossible. Our client’s Business Plan and Strategic ambitions needed strong modernization and a real paradigm shift.
MEGARA met all expectations and requirements to support these ambitions, as a single integrated platform, getting rid of legacy applications. After a 22-month project based upon mutual trust and collaboration, our client is now delivering high class servicing for local and international institutional clients.
In addition to the Wholesale Business, real-time connection of multiple banking networks to MEGARA also enabled the servicinge of a wide range of Retail clients. MEGARA’s Multi-Entity scalability enables integration and easy on-boarding of any new Custody activity.
Change the paradigm with Megara and experience the resulting growth!