African Alliance Transforms Its Security Services Business with Zanibal eBroker
Client: African Alliance
Industry: Financial Services
“We will like to have a unified solution that meets all the regulatory requirements in all the countries that we operate while still handling our daily brokerage needs“
African Alliance’s business process re-engineering team reviewed their existing front and back office processes with an aim to unify their operational process across the group and discovered that the task was nearly impossible. This was because the different African Alliance branches were making use of different OMS software to manage their daily trade transactions which made it difficult to unify the process as different software have their different processes.
As at 2012, African Alliance Stockbrokers Limited which is a pan-African investment company that operates in over 12 different countries needed to transform its business processes significantly to drive growth and boost overall company performances.
There was no defined business process for the operations departments across the group and this led to a lot of inconsistency because each business office was running a separate OMS software and it was even more difficult to track company performance across the group.
African Alliance also needed a cost effective solution that was scalable, customizable and highly efficient to drive growth as well as support its unique trading and portfolio management processes.
African Alliance selected a cloud based implementation of Zanibal’s eBroker application. The solution comprised the deployment of a number of modules: – CRM, workflow, self-service portal, corporate actions, accounting, trading & portfolio management.
A single instance of Zanibal eBroker with multi-user functionality was deployed for the entire group and because Zanibal comes with multi-exchange and multi-currency support, eight different exchanges were integrated with Zanibal eBroker to allow users of the different business offices process trades in their corresponding markets with their local currencies. At the end of the day, management is able to view a consolidated book across the different business offices in a single currency (US Dollar).
African Alliance have been able to streamline their brokerage processes from trade capture to trade settlement. Contract notes are automatically generated and sent out to their clients via email and SMS for retail and institutional trades.
In addition to better tracking of transactions, very flexible reporting, real time notification and confirmatory alerts, African Alliance sought a solution that they could easily customize. They needed a solution they could easily integrate with banks for real time processing of clients’ cash transactions as well as other third party solutions. Also, a FIX complaint exchange system for order execution had to be a part of the new solution.
African Alliance evaluated solutions from various companies but was impressed with Zanibal. The deal was sealed during a free proof of concept review of the Zanibal suite of solutions.
In the following 3 weeks after purchase of our solution, we migrated all the data from their legacy systems into Zanibal and customized the system for their use.