Back Office System for MF/IPO distributors Success Story

The Client

Leading India based global credit rating agency, financial research and advisory company

The Problem

Client wished to offer an additional product to the wealth managers for managing IPO and mutual fund distribution and keeping track of their brokerage receivable and payable. This was as part of its suite of web based products for tracking mutual fund portfolios and performance of investor's portfolios (Wealth Tracker).

The Solution

Harrier developed the Back Office Software System (BOSS) that Interoperates with exiting applications using part of the data from the existing databases of Mutual Fund Portfolio Tracker and Wealth tracker applications while maintaining its own database for other client-specific data. The application computes the brokerage receivable and payable for each transaction and reconciles data with data from Asset Management Companies (AMCs).

Key Features

  • Reconciliation of transactions, with data from multiple AMCs
  • Computing transaction wise brokerage receivable and payable considering brokerage criteria of respective AMCs
  • Support for nationwide distribution network with access control at each level from corporate headquarters to a relationship manager. Centralized database at corporate level.
  • Reports showing data relevant to the level it is viewed at with facility to drill down from higher levels

Major Challenges & Solutions

Met challenging deadline

Delivered the fully functional, almost bug free system in 3 months flat as per the initial plan. This was achieved through thorough planning, adequate and well-trained resources, prioritization and allocation of tasks, project tracking, in-time risk management and teamwork.

Reconciliation of transactions, with data from multiple AMCs in their own respective file formats.

Developed a separate reconciliation module with support for different file formats and configurable data format in order to achieve flexibility for future-modifications to the data formats.

Technology Environment :

ASP.Net, ADO.Net, MS SQL Server, IIS 6.0, Windows 2000

Team Size :

6 members

Duration :

8 months