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Migration to its client

COMPANY CASE STUDY

How a tailored project team can support a system migration in a short timeframe

By Dorianne Pruneau

A top tier asset manager in the Nordics selected Parva Consulting to project manage their migration to a new Transfer Agency (TA) platform. Their existing TA solution proved insufficient to meet the company’s expansion and the needs of its clients. Parva project managed the transfer of data, gap analysis, process mapping and reporting to their new TA system.

CLIENT

Nordic Asset Manager

INDUSTRY:

Investment Funds

OUR ROLE

Migration to a new Transfer Agency platform supporting end-to-end solutions

THE CHALLENGES

Challenge one

Our client’s Transfer Agency (TA) solution had grown organically for decades to adapt to the increasing volumes, new rules and regulations, and to respond to their clients’ demands. The TA solution became difficult to maintain over time due to its fragmentation and connectivity between the three different systems comprising the TA solution.

Challenge two

The client has a growing third-party distribution franchise, servicing a wide range of international fund distributors, including leading global wealth managers. The existing Transfer Agency (TA) solution could no longer support the ongoing growth of business and client demands.

Challenge three

The timeframe for implementation was short due to contractual constraints with the existing third-party providers.

THE SOLUTION

Our client sought specific skill sets to support and oversee the system migration including overall project management and governance, transfer agency knowledge, and vendor management.

Parva was selected to lead the project, we built a project team composed of experienced consultants from two of our offices (Dublin and Luxembourg) with extensive knowledge of the industry, the team was perfectly tailored for their needs:

A seasoned Project Manager with experience in such big system migration and third-party vendor management.
A long-standing subject matter expert in TA business
Business analysts to support data review and migration, with previous experience dealing with the TA solution provider selected.
Capacity to proactively identify challenges, roadblocks, and ability to deal with the short timeframe for implementation.

The TA platform chosen is an industry leading solution used across Europe. Parva’s role consisted in coordinating the effort between the client’s operational and IT teams, client’s senior management, and the TA system provider’s implementation team.

THE RESULTS

Result one

Parva assisted the migration effort at different levels: project management, subject matter expertise and business/data analysis, managing challenges, coordinating communication, and dealing with resource constraints on both sides to ensure delivery on schedule as planned.

Result two

The client was able to improve the overall operational and reporting processes using the new TA system functionality to support their business growth.

Result three

The Parva project team was able to adjust the execution plan to achieve the migration in line with the short timeframe.

CONCLUSION

The client consolidated multiple systems on a single global platform, increasing efficiencies, reducing risk, digitising operations and improving their clients’ experience.

Parva managed the project by responding quickly and efficiently to all issues using the tailored Parva team-members’ expertise and experience.

“If you require similar assistance, Parva Consulting can manage your project and assemble a team of professionals to meet your objectives that will fit your needs for a successful outcome. Parva Consulting hand pick the team members best suited for your project from one of our locations or mix with specialists from any of our offices in Milan, Dublin, and Luxembourg to obtain the best outcomes”

Junaed KABIR

Partner and Managing Director of Parva Consulting

junaed.kabir@parvaconsulting.com

Mobile section

If you require similar assistance, Parva Consulting can manage your project and assemble a team of professionals to meet your objectives that will fit your needs for a successful outcome. Parva Consulting hand pick the team members best suited for your project from one of our locations or mix with specialists from any of our offices in Milan, Dublin, and Luxembourg to obtain the best outcomes.

Junaed KABIR

Partner and Managing Director of Parva Consulting

junaed.kabir@parvaconsulting.com

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