client reporting - customer showcase dave mason – director, barclays wealth technology 27 th...
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Client Reporting - Customer Showcase
Dave Mason – Director, Barclays Wealth Technology
27th September 2007
Contents
About Barclays Wealth
Business Problem
Solution Outline
Future Direction
Source: (1) Private Asset Managers, July 2007; (2) Results Announcement, August 2007.
• Part of Barclays Group, we have been providing our clients with tailor-made wealth products and services for over 335 years
• We are dedicated to helping our clients acquire wealth, use it, enjoy it and pass it on
• As part of one of the largest financial services providers in the world, we have an unrivalled local expertise and international reach.
• Our clients gain full access to Barclays Capital, Barclays Group Investors, as well as top third-party fund managers from across the market
Best UK Private Bank for
EntrepreneursJanuary 2007
Wealth Manager of the YearJune 2007
Scorpio Partnership Award‘Voice of Client’
Initiative
2007
Broker of the Year
2006
7,700 staff in 18 different countries
Named ‘The UK’s biggest wealth
management group for private clients
’(1)
Our assets under management total
£126.8bn(2)
Who we are
What we do
Investment ManagementChoose advisory or
discretionary services Online, execution-only
service available
Wealth AdvisoryStructures effective
across legal jurisdictions
Modular structure to maximise your tax
efficiency
Banking & Credit Liquidity management
and exclusive loan services
Specialists help create bespoke wealth
solutions to meet your needs
EstatePlanning
TraditionalFunds
ForeignCurrency
TreasuryProducts
HedgingStrategies
LiquidityManagement
Service
Aircraft/MarineFinance
Day-to-DayBanking
Trusts & Foundations
Tax-effective Wills
FinancialPlanningPension &
RetirementPlan
Commodities
Foreign Exchange
Philanthropy & Family Office
Financial guarantees
UK & InternationalMortgages
InvestmentLeverage
FiduciaryServices
Multi-Manager
Structured Products
Hedge Funds
Real Estate
Private Equity
Special
Opportunitie
s
Protection
You
Contents
About Barclays Wealth
Business Problem
Solution Outline
Future Direction
UK Private Banking focus
Focus for the project in 2007 was UK Private Banking
c.100,000 clients with > £0.5m liquid assets
Product complexity and product oriented, legacy infrastructure and reporting
Poor quality report, too much paper, no value add and one for each product set
Expensive manual process
Meeting preparation for a banker was taking too long, each team had a unique style
Requirements
Bring together into a “family office” report
Clear, simple breakdown of currency, geography and asset exposure
Portfolio performance against benchmark and total return trend
Compact transaction summary, reducing the paper volume sent to clients
Improved process for regular and ad hoc production
Contents
About Barclays Wealth
Business Problem
Solution Outline
Future Direction
Solution Outline
2 phases to the project : (1) Data Warehouse (2) Report Production
Data Warehouse – consolidation of 7 core product source systems into a single warehouse; fed nightly
Design team worked on new report, with Banker, Infrastructure (Ops, Technology, Compliance) and Client input
Actuate chosen as the reporting tool: Familiar with Barclays Wealth (used for Swiss client reports) Met the functional needs we had (ad hoc and batch production) Well known in the Wealth / IM industry
We have c 500 users using the Actuate GUI to request & review pdf generated reports, we expect this to grow rapidly as we extend throughout UKPB
How the solution works
A strategic data warehouse for Wealth clients
A new client reporting utility within operations to manage exceptions, monitor data quality
High quality printing and fulfilment for professional look and feel and timely despatch
Actuate 8 iServer Windows ERD Pro development tool Actuate cluster on 2 nodes
Process & Timeline
Choice of 3 styles – Summary, Short Form and Long Form Generated up to monthly in frequency – ad hoc, whenever
Process improvement
Straight through pack production Banker can chose for professional print ad hoc or pdf email back from
Actuate Exception process workflow built in to manage reports with potential issues /
data concerns
Timeline
July 2006 Detailed requirements - Actuate selected August – December 2006 Detailed design and concept work January – April 2007 Build; data quality improvements April – July Systems and user testing August 2007 Phased roll out
Report
User interface for report requests
Contents
About Barclays Wealth
Business Problem
Solution Outline
Future Direction
Future Direction
The first step has been process improvement and joining of relationship level information
Emphasis on clarity and quality of paper delivery
Complexity / expectation from clients is increasing
The next step:
There is client demand for online / web delivery of this information
Often clients are wanting to take the data and manipulate it themselves e.g. group asset classes together; adjust periods
Clients want a choice of sources for their reporting but for it to be consistent across channel
The challenge is streamlining the process to allow near real time data presentation and maintaining consistency across channel