Tier-One Investment Bank Boosts Revenue and Saves Hundreds of Thousands of Dollars
Industries:
Financial ServicesProducts:
MarkLogicChallenge
- Agility and innovation were required in order to out-compete and get new products to market quickly
- Competitive pressures
- Constant requirement changes and information updates
Solution
- Equities Research Authoring System
Result
- Faster Time to Market
- Improved Data Quality & Service
- Lower Total Cost of Ownership (TCO)
Full Story
Challenge
The bank needed to improve efficiency and information quality, and a system that could scale with the growing demand for mobile updates and alerting. The bank also needed to allow analysts to search historical reports, and achieve first-to-publish status. It overcame these challenges with MarkLogic, which enabled up-to-date research on global developments ahead of the competition. Not only has the bank boosted revenue and its reputation as the “go to” research firm, it also saved hundreds of thousands of dollars in technology costs.
Solution
The bank decided to build an equity research authoring and delivery solution based on the MarkLogic database. MarkLogic was selected due to its unique combination of the flexibility and scalability of NoSQL as well as enterprise features such as security and disaster recovery.
Result
Improved Productivity
Development cycles shrunk from 6-12 months to 3-4 weeks. More users are served with less infrastructure requirements.
Reduced Costs
The single MarkLogic platform eliminated costly ETL processes and reduced TCO by at least 50% over legacy technologies.
Forged Industry Leadership
With its high level of customer service, the bank has cemented its leadership position as the “go to” research firm.
