Our client is a leading asset management firm with experience of nearly five decades.They deal with a wide variety of assets, including fixed income, equities, emerging markets, and alternative investments.The Client
Our client is a leading asset management firm with experience of nearly five decades. They deal with a wide variety of assets, including fixed income, equities, emerging markets, and alternative investments. They manage assets for some of the largest corporate and public pension plans, endowments, foundations, investors, and high-net-worth individuals.
Challenges Faced by the Client
For nearly a decade, our client was using a 3rd party big data legacy platform for calculations, aggregations of financial data, and then successfully delivering data to the
end-user.
The datasets were huge (billions in number), including Credit Risk Transfer data for Connecticut Avenue Securities and Structured Agency Credit Risk, which have been directly provided by the Government-Sponsored Enterprise. Also, other tasks like risk analysis, fund management, and fund distribution were more dependent on the on-premise setup.
In addition to these, the utilization of the on-premises legacy platform became unsuitable for uploading, processing, aggregating, raising queries, and downloading the appropriate data, resulting in frequent recurring performance issues. It became less efficient to work on such a challenging platform.
The on-premises setup has to pay high maintenance costs and expensive annual subscriptions for it.
In order to address all these challenges, we made great efforts and implemented flexible solutions through migrations, and we are now getting the best outputs. Through these solutions, all the issues were resolved, and now the client is happy because they are getting long-lasting and resilient services that will have a great impact for decades to come.
Solutions
We migrated our client’s big data workloads from on-premises to the Azure cloud. This was one of the most momentous shifts they have undergone in a long time. Azure Cloud Services stands as the best solution to meet their growing customer needs with its faster service, enhanced flexibility, smart disaster recovery, and better security. The migration played a vital role and enabled our clients to perform their previous tasks with better data governance and management.
We converted to an open-source column-oriented data storage format to improve performance and accelerate data aggregation and processing. With features like high-performance and enterprise-grade security, we utilized Azure Databricks to increase the efficiency of loads, calculations and data processing. We integrated Data Lake, which offered our client low-cost data storage and transactions. Each solution we implemented allowed our customers to operate to the fullest extent possible.
Solutions Benefits
Our solutions offer a lot of value to how our clients operate and also to their valued customers.
- Due to the low cost of Azure cloud infrastructure, our client can now onboard new capabilities and manage their huge data sets and customer portfolios sustainably.
- With Azure, the client is now enjoying low maintenance costs and a shorter turn-around time. They have also achieved effective cost management and improved cost predictions.
- Now our client can perform the tasks quicker and more efficiently with Azure’s high-performance in-memory technology and intelligent query processing.
- Our client is now enjoying improved performance due to faster data load processing time and aggregation processing of large datasets.
- In financial services, security is the utmost priority. With the help of the Azure Active Directory service, we ensured security by securing identity and sharing the right information with the right person.
