Sygnity

Case study

Cooperation of Sygnity and Michael / Ström Brokerage House – effective support of client’s accounts with Sidoma Web

Sidoma WEB is a web application for brokerage houses, which enables investors to operate independently their brokerage accounts and trade financial instruments.

The client

Our client is a dynamically growing brokerage house Michael / Ström offering financial instruments (mainly bonds and investment certificates) and providing corporate finance and investment banking services.

The main business need of Michael / Ström was efficient acquisition, remote support of retail customers and efficient sale of financial instruments. The client was looking for a secure, effective and intuitive tool helping in winning new customers.

As part of this project, the client, in cooperation with Sygnity, developed the Sidoma WEB application which enables investors to access a wide range of information and self-service brokerage accounts, including trading in financial instruments through a browser.

Our role

Our task was to provide an ergonomic and attractive application interface, while maintaining a high level of security and reliability. We wanted the application to be flexible and easy to adapt to changes and new legal regulations.

For the purposes of implementation, we formed an implementation team consisting of epresentatives of both parties. The solutions and functionalities developed were provided to the customer on an ongoing basis in accordance with the agreed priorities, thanks to which the functional scope of the implemented system increased regularly until it reached its full assumed functionality.

Selected functionalities:

  • Easy and intuitive online opening of an investment account;
  • Easy access to integrated and detailed information about the account and the financial instruments purchased through the Brokerage House;
  • Detailed account history (including investments, orders and login history);
  • Handling of a broad spectrum of public offerings (including individually targeted offerings), and providing the possibility of executing orders on the stock exchange and over-the-counter market;
  • Review of stock exchange listings;
  • Efficient management of bank accounts, simple handling of deposits and withdrawals from the account;
  • Intuitive and fast modification of personal data;
  • Possibility of surveying clients (in accordance with: MIFID2, FATCA, AML).

Thanks to Sidoma WEB

Michael / Ström Brokerage House:

End user:

Increases the range of operations

by eliminating the need for physical contact between potential clients and employees of brokerage house. Increases sales of investment products through the use of electronic distribution channels.

Communicates more efficiently with clients

through individually targeted offers, automatic messages and notifications.

Reduces service costs

thanks to automation, the number of operations performed by the user through electronic communication channels has increased.

Has better access to investment products

thanks to application working in real time, end user won't miss any offer directed to him.

Has greater control over own investments products

faster response to market changes thanks to notifications

Unlimited access to a brokerage account

exactly when needed. Access to services online without the need for physical contact with a brokerage house employee.

Business benefits

Thanks to Sidoma WEB, Michael / Ström brokerage house:

increase

Increased the number of brokerage accounts

24-7

Changed the service model

thanks to which it not only reduced costs but also enabled clients to access their brokerage account from any location and at any time

communication

Intensified the scale of communication

addressed to clients.

target (1)

Reaches clients more effectively

with new offers and products through in-app notifications.

Testimonial

The implementation of Sidoma WEB in our organisation allowed us to expand the scale of operations without increasing the employment. Thanks to the implementation of electronic communication channels, our reach increased. Clients have gained easy access to additional information on their accounts and financial instruments purchased through the brokerage house. Typical internet systems are designed to meet the needs of speculative clients investing in the stock and futures markets. When creating Sidoma WEB, we focused on the needs of those clients whose objective is capital accumulation. Together with Sygnity's analysts, we managed to translate the clients' needs into IT solutions which satisfy them. The system is constantly upgraded - during the implementation of the initially agreed scope, new business needs and legal regulations appeared which had to be taken into account in the implementation schedules. Thanks to such a flexible approach, we can maximize revenues on both sides - we in contact with our Customers, and Sygnity - fulfilling our additional orders.
Ludwik Skonecki
Director of the Department for System Development and Process Organization