Success Story: Credit Suisse AG

Process automation for billing discretionary and advisory mandates

Credit Suisse AG

To automate the administration and billing process and reshape it to be faster, more secure and transparent, Sowatec and the Credit Suisse project team implemented a state-of-the-art billing solution based on calculo and integrio that supports straight-through processing (STP).

 

 

Success Story

Our customer and the project

As a leading and innovative financial services provider, Credit Suisse successfully manages many capital investment mandates – numbers steadily increasing.

Previously, the billing of mandates was a very expensive and time-consuming process that required extensive human resources due to the complexity, scope and growing number of mandate agreements.

The billing process demands high transparency requirements and zero error tolerance.

Details

  • Challenge

    The bank was on request offering customers different flexible fee models for the discretionary mandates it looked after. Management, minimum/maximum and performance fees were charged in various currencies and different asset classes. The bank charged volume, product and minimum/maximum fees for a high number of incoming advisory mandates. Our client wanted a highly-automated solution in order to manage and bill mandates more efficiently.

  • Goal

    By automating the system, the different existing process steps would be quicker to enter, process, bill and approve. In doing so, we needed to ensure auditing reliability. The client requested customer settlements to be performed directly from the system.

  • Solution

    Sowatec developed a software solution, combining calculo and integrio, that comprehensively maps the complex billing process, while making it transparent at all times. Together with automated procedures, this solution minimises process risks.
    The mandate structures and types of fees are automatically validated in calculo with the support of integrio and then imported. integrio recognises whether it is a new, updated or deleted mandate and then performs the necessary configurations. All requirements are met in terms of functionality and user-friendliness, as calculo is coupled – via an interface – with the bank‘s workflow management system, which administers master data from the Portfolio Manager and from which bills and approval processes can be triggered.

Excerpt of an interview with Frank Hänni, Director Asset Management Finance, on the use of calculo, triggered by the CS internal workflow tool.

What benefits does the new system offer to Credit Suisse and its customers?
Compared with the previous system, our entire billing process is now much quicker in all aspects. With around 70% of the process now automated, we have been able to significantly reduce the processing burden in our business departments while increasing efficiency and quality. This also means that we can now make use of the human resource savings by deploying them elsewhere.

How was the collaboration with Sowatec?We constantly receive positive feedback from our specialist department regarding the excellent support that Sowatec continues to provide. Above all, we really value the company‘s solution-oriented work. In response to our queries, Sowatec quickly sends information and recommendations for solving and dealing with any issues that arise.


Our employees who are involved in the project are very satisfied with the swift and reliable implementation of the project and all the complex requirements. In the meantime, the system has been working extremely well.

Do you have any plans to implement the solution in other business units?
Currently there are no plans to deploy the solution outside of Switzerland. However, the generic and configurable approach of calculo is extremely interesting for implementing other projects, such as replacing our internal trailer fee solution. We can well imagine using calculo for the implementation of additional and future business requirements.

 

Frank Hänni

Director Asset Management Finance, Credit Suisse AG

„Due to the high level of automation of the calculo application, we have succeeded in significantly increasing the efficiency and quality of our business department. We are therefore now in a position to effectively deploy human resources to other areas.“

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