With today’s high-risk environment, many financial institutions are looking for more robust, cost-effective, low-risk and scalable resource augmentation models. At the same time, the new reality of Covid-19 has shown that team members don’t have to be in the same room to work well together and that often, businesses can lower their overheads by leveraging alternative solutions to the office.
The one thing they do need to be in, is the same timezone.
Moving beyond traditional banking centers into flexible resource models within the same timezone has proven to be a cost-effective and efficient decision. With CPQi’s On-Demand services, and highly specialised skill set, we’re able to provide our clients with the best individuals in the Americas at an up to 60% reduction on flexible resources. By leveraging a range of specialised individuals, our clients benefit from improved security, speed and growth potential.
For over 14 years, CPQi have brought our clients the best in banking technology services in the Americas. Our offices are split across North and South America, making us one of the few digital transformation and financial technology partners with a genuinely strong presence across South America. Our team members undergo regular training in both banking and technology, are usually educated to at least master’s level, and have extensive experience working in banking technology.
By working with us, our clients are saving up to 60% on their resource augmentation costs. An example of how this cost breakdown might function for one of our clients is the following:
- 10 flexible resources in Toronto could cost a business c. C$2mm per annum
- 10 highly skilled split-site CPQi employees working in the same time zone, with extensive experience in banking technology could cost the same business c. C$750,000 or 37.5% of their current run rate
Another example is:
- 1 flexible New York based resource could cost a business $1000 USD per day
- The same level resource working at CPQi for one of our clients in the same timezone could cost $300 USD per day, a 70% reduction in daily costs
This example is purely hypothetical and not necessarily indicative of our rates or the rates of the current market, but it does show the extent to which savings can be achieved when utilizing a split-site model across the same timezone.
When urgent issues occur, it’s essential your team works in your timezone, making many offshore alternatives difficult to maintain. Communication avenues can become disrupted, making it harder to get high quality work out efficiently. Working with people in the same timezone is essential when building out DevOps environments, an important part of creating a stronger, more robust financial institution. With our presence across North and South America, our services are usually more cost-effective than using local contractors and are always provided by highest skilled people available working in the same timezone.
One problem many financial institutions face is a small skill pool for certain jobs. For example, finding a highly skilled Calypso developer in New York with extensive experience in similar businesses to your own can create a highly competitive environment, leading to increased costs as businesses pitch against each other for the same person.
By opening their business up to a cross-region environment, our clients can draw from a wider skill pool, ensuring they’re provided with the best team for the job. From developers to analysts, our employees are all financial institution focused, and provide a wide range of skills.
Our clients stay ahead of the curve by using our build to test services. We build code into automated testing scripts, enabling testing to be performed and monitored remotely at a far lower cost and higher rate of throughput. This both lowers the cost of developing and releasing new products and services, and reduces overall risk, allowing our clients to innovate with greater speed, security, and efficiency.
Security and Policies
Having worked as highly skilled specialists in financial markets for over a decade, we understand what’s required to adhere to security and policy requirements. When entering into contracts with our clients, we take on the risk of security and governance and adhere to their policies, ensuring they don’t suffer later down the line.
Rather than waiting for lengthy contract and workflow processes, CPQi are able to come up to speed and start running with projects within an exceptionally fast period. Our On-Demand services ensure our clients get the work they need done, when they need it done.
Effective Location Strategies
We work with our clients to create effective location strategies designed to provide efficiency and flexibility. By examining current location strategies, we’re able to find opportunities for dramatic cost-saving, risk reduction and improved growth potential. Our consultants would be happy to provide a free consultation outlining how CPQi can help you leverage alternative specialist skills within your location strategy.
Opportunity for Growth
By leveraging split-site flexible resource augmentation, our clients have additional resources to innovate. In many cases, this has led to improved digital transformation strategies. For example, 10 highly skilled resources at CPQi might cost the same as 5 local resources, those 10 resources could provide a range of financial technology services. Where a budget might have originally only provided enough resources for standard operating costs, with CPQi, our clients are able to leverage their standard budget to ensure standard operations and transform their systems.
As a leading provider of digital transformation services for financial markets in the Americas, our teams are able to build DevOps environments into financial institutions, migrate platforms onto the cloud ensuring robustness and scalability, and develop strong channel strategies and systems in line with client expectations, bringing our clients closer to their users.
One Solution with a Proven Track Record
Rather than using a range of different providers, our clients benefit from a single solution, ensuring reduced risk and higher accountability. We work with many of the world’s top financial institutions and have done so for over a decade. By providing cost-effective, highly skilled, disruptive technology services, we’ve helped our clients weather storms and build during winters. Our client list includes many household names in banking, and we would like the opportunity to work with you and identify potential spaces for cost reduction and innovation. Book a free consultation today.