Trading in shares and assets characterizes the European economy. Every day, the major banks in the European Union deposit thousands of these so-called assets in the database of the European Central Bank (ECB). Some time ago, one of these major banks turned to DATAGROUP to modernize the transfer of its data. The bank had recently switched from transferring data in Microsoft Excel format to Microsoft Access, but the functionality proved to be inadequate at a technical level. In addition, there were constantly changing requirements from the ECB and the legal basis, which had to be implemented at short notice. DATAGROUP was commissioned to develop its own software, the corrective and evolutive maintenance of which the IT specialist still supports today as part of its CORBOX services.
Proprietary software for simplified handling
Our customer manages around 7,000 assets that need to be checked and updated on a daily basis. The new tool needed to simplify these processes, so the bank wanted user-friendly software for transferring data to the ECB. In addition, the processing of incoming data, including reports on new, updated or withdrawn assets, was to become simpler and ensure that all asset data at the ECB and our client always matched.
In future, no asset should be published without the dual control principle. This required a new functional mode with different user roles. The tool also needed to be able to fully document all changes to the assets in order to enable comprehensive audit trails.
Error-free implementation under time pressure
As it had already been decided to shut down the existing system, there was a fixed deadline that could not be exceeded under any circumstances. Otherwise, the data exchange with the ECB would have been jeopardized. DATAGROUP used Scrum as a concrete agile method for the development and implementation of the new software in order to structure the tight time frame of six months in the best possible way. The requirements were implemented, checked and, if necessary, adapted and supplemented in nine sprints. To transfer the data from Microsoft Access to the bank's new database software, the DATAGROUP team used SQL Server as a transfer solution. Today, the software runs on the customer's own servers.
DATAGROUP developed a technology that can be easily adapted to new conditions, which always applies the dual control principle and meets the requirements of every audit. With a user-friendly interface and clearly defined and regulated user roles, it is particularly transparent and can be used intuitively on a day-to-day basis. As early as the development and implementation phase, it was possible to identify and rectify errors thanks to the good cooperation of all those involved, so that the customer received a functionally stable software solution that was perfectly tailored to everyday use - even days before the old system was shut down and therefore well before the deadline.
Daily support for short-term adjustments
After the introduction of the new software, DATAGROUP took over the application management service as part of the CORBOX services. With Corrective and Evolutive Maintenance, DATAGROUP checks the software every five working days for any malfunctions and monitors the smooth import and export of all data. The support team is active for the bank ten hours a day. The technical up-to-dateness of the software is also continuously checked, while the customer passes on any change requests in an uncomplicated manner. DATAGROUP regularly scores with competent action, as legal changes are often not precisely defined and still have to be implemented at very short notice. Since 2017, DATAGROUP has always been able to implement this on time, in compliance with the law and without downtime.
Conclusion: Working together for the international economy
The development of this software presented DATAGROUP with special challenges, which the team mastered to the full satisfaction of the customer. The special technical nature of the application and the definition of the requirements made an extensive training period necessary - especially as the old system could not be analyzed and nobody knew exactly how it worked. DATAGROUP therefore developed all new functions and overcame all linguistic and technical hurdles together with the diverse customer team. Although new requirements were identified in the middle of the project that required a major restructuring of the entire software, the team was able to implement everything on time without affecting the bank's day-to-day business. As a result, the software was implemented within the set timeframe and budget, delivering a tool that is ideally suited to the requirements of employees, the bank and the ECB. CORBOX's daily application management service now ensures that the software remains stable and up-to-date at all levels.
