As a part of its commitment to promote a diverse, equal, and inclusive workforce, the customer established a Diversity and Inclusion Office. This office acts as a source and information hub for diversity in the asset management sector. In their commitment to discovering asset managers with diverse investment portfolios, the customer built a database of such “diverse managers” and welcomed asset managers with varied ownership to submit details about their companies and investment philosophies.
Industry
Not-for-Profit FinTech Asset Management
Customer Profile
Customer is a not-for-profit asset management firm that has helped investors achieve their financial goals for over five decades. They enhance client's financial resources, helping them improve their investment management practices. Due to their client-first approach, they offer institutional quality investment programs and services designed to fit their client needs.
What was the problem?
Earlier asset managers manually submitted their firm’s investment strategies to the customer. Some of the problems faced were:
- Time-consuming and labor-intensive processes that involve collecting, organizing, and reporting data from diverse sources and formats.
- Information was inconsistent and error-prone, as it depended on the data accuracy, data completeness, and the quality of analysis and interpretation.
- Lack of standardization and comparability as asset managers employ varying definitions, methodologies, and metrics for measuring and reporting diversity and governance issues.
- Lack of transparency and unverifiable data, as they may not reveal data sources, assumptions, limitations, or biases of data and the analysis.
- Limited responsiveness and unadaptable, potentially lagging the latest trends, developments, or best practices in diversity and governance issues.
How did we help?
We developed the Diverse Manager application on Azure platform, shaping it into a portal application with a centralized data system customized for the customer needs.
Impact & Benefits
Standardized/Centralized database with the following benefits:
- Automated tools and platforms to collect, process, and report data
- Common frameworks and standards for clear guidance
- Benchmarks for measuring and reporting
- Enhanced disclosure and accountability
- Ongoing enhancements to update and refine the data
Key Challenges
- Comprehensive data collection and analysis, including details of their asset managers, portfolios, and their impact, were time-consuming tasks.
- Managing multiple stakeholders' perspectives, expectations, and standards was necessary to establish a clear and consistent definition
- Designing a robust and flexible technology platform was essential to support the data integration, processing, reporting, and verification processes in a secure, efficient, and user-friendly manner.
- Ensuring continuous collaboration and communication for alignment, transparency, and accountability.
- Setting up the Azure configuration and B2C
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