Situation

iCompression is a vendor of a cloud-based new kind of risk compression service for dozens of major banks. Its team of 10 staff runs a service that accepts file submissions of financial instrument portfolios and valuation data from client banks' risk management systems, each with their own data formats.  iCompression then ETL’s these into its internal compression-ready format. Its Algorithm aligns and matches opposing positions and sends 100’s of compression proposals back to clients, who accept them thereby compressing Billions of dollars in unwanted risk.  Any mistake could cost iCompression their entire business.

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Challenge

For iCompression, whose competitors are always looking for new services to offer, acquiring clients before the competition arrives, is critical for success.  But, onboarding a new customer requires the customer to dedicate a BA to read API documentation, write the data-mapping specification, dedicate a programmer to write code to execute the mapping and dedicate a tester to ok the modifications for launch, effectively tripling the cost of their SW.  

 

iCompression has no line-of-sight nor control over these resources or their costs.  Even worse, prioritizing 3 staff at a bank for this integration can take 3-6 months.  All this hurts sales efforts burns through cash and gives competitors more time to react.  What iCompression needs is a way to onboard customers quickly, easily, at minimal cost.

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Solution

Bailam Solutions is just the trick.  It's a machine learning SW automatically determines the mapping between iCompression’s internal data format and the many different data formats of its customer banks.

 

To onboard, each customer creates a handful of standard instrument purchases and sales transactions, one-time, and shares them with iCompression.  Both iCompression and the new customer enter these trades into their respective systems and then exports them creating a source file in the customer’s format and a target file in iCompression’s format.  The Bailam system digests and learns from these 2 files, identifies the mapping, and documents and generates the programming code for customers to review. The system predicts the accuracy of its own mapping, listing all proposals in a simple interactive and collaborative platform for the customers to review and accept mapping proposals,  select an alternate,  enter an override mapping, or click to ask a colleague a question.

 

Once the customer approves all field mappings, the code (python or otherwise) is automatically generated, as is API documentation, and the code is ready to be inserted into the customer's system. Reducing the total time, cost and pain for customer onboarding boosts sales productivity and helps iCompression capture network effects and box out the competition.  Getting more customers on board and achieving success more quickly is good for their profitability.

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With Bailam start accepting tomorrow your client data as it is not as you wish it was.

 

To more quickly and easily get your clients on board with your SW solution, give Bailam a call.