Lightpoint financial technology is an accounting platform that uses the latest software design and infrastructure technologies to provide a comprehensive solution for their clients. Their services include market data services, security mater, portfolio management, order management, trade execution, compliance reconciliation, and client reporting.
Due to LightPoint’s need for the latest technology, they faced a major challenge in revamping their systems. When they reached out to us at Techverx, our Key Findings were as following;
Lack of Mobile-Friendly services
Manual Setup for the day to day operations (i.e Data entry)
System backed by WPF and WCF
Technical debt (Unidentified functionality)
Functional Debt (Scattered Information)
Lack of set expectations
LightPoint hired us for team augmentation services. They believed in immediate solutions using quality resources and team augmentation was the ideal pick. We have excelled in providing our clients with the best team augmentation services including highly skilled professionals to fulfill their specific business needs.
The client faced the following challenges:
They wanted to revamp their legacy systems, which were backed by WPF and WCF that were only beneficial for windows.
They lacked mobile-friendly services since their systems were old but their customers were using leading technologies.
They wanted their systems to be transitioned without disrupting their current operations.
At the time of customer/client onboarding, they had to perform customizations manually.
Their day-to-day operations were also done manually.
They wanted frequent code deployments to improve their systems frequently and acquire a reliable delivery process.
Their system was in technical debt, they provided us with 30% of the information, and the rest we had to understand on our own.
After recognizing the challenges, we decided to use the onion model to provide them with a streamlined solution. The process included:
Our first step was understanding the system layer by layer. We used reverse engineering to understand their high-level systems. Then we used infrastructure diagrams and data flow diagrams using event storming to map the user story along with example mapping. All of this was done with the help of the Miro tool. Then we documented the system with the help of a domain expert who helped us identify the problems.
As we developed our knowledge base, our understanding of the system improved. To ensure that their operations weren’t disturbed during the transition, we used the modular approach to change their system. Using one module at a time, we updated and upgraded their system to new standards.
During this step-by-step process, we presented the client with a strategy on how to proceed further and took their approval at the start of each step. This helped us understand the system on a high level and present the client with realistic expectations and if there was any gap, we filled it through coding and proper documentation.
During this process of gradual change, we made their systems mobile-friendly by enabling MDS (Market Data Services) to support multiple data collectors. They use the following data collectors: FACTSET, SixFiancials, and Bloomberg.
Currently: We’re focusing on their maintenance, feature scoping, feature development, and assisting them in making data-driven business decisions.
With the help of the right tools and technologies, We helped upgrade LightPoint’s applications.
The benefits LightPoint got were:
They were able to complete their development process with the best cost-cutting team augmentation services.
Mobile-friendly application and state-of-the-art systems.
Complete automation of everyday operations and customizations.
Streamlining of systems led to increased customer retention.
There is an increase in the number of new users.
LightPoint is steps away from getting to the next engagement level with the stock markets.