Delivering Innovation to Banks and Asset Managers
RCloud is a transformation consultancy that helps financial institutions implement latest Fintech and Regtech innovations. Our mission is to help banks and asset management firms identify opportunities for innovation, design solutions to maximise those opportunities and then carry out implementation to realise the business value.
To deliver on our mission, we have partnered with a number of Fintech and Regtech firms that specialise in Robotic Process Automation, Intelligent Automation, AI, Machine Learning, Big Data and Blockchain. We combine this network with Programme Management and Analytical expertise of our consultant team who have a strong track record of delivering transformation to financial services and a deep understanding of buy side and sell side business processes. This unique synergy enables us to really understand the business problem and design integrated solution leveraging the latest advancements in Fintech.
RCloud consulting team can perform various functions critical to a successful delivery of an Innovation Programme:
- Problem Discovery – Identify the Opportunity
- Solution Design – Maximise the Potential
- Implementation & Rollout – Realise the Benefit
Click through the tabs below for specific tasks we can help with !
Before we embark on any transformation, it’s paramount that the problem being solved is fully understood and desired success criteria are established. Stakeholders, sponsors and impacted business professionals must be bought into this and agree on the need to change. Getting this phase right is fundamental to ensure the programme is setup for success. It requires a specific skill set with deep business knowledge, technical nous, up to date information on industry trends and the ability to bring different stakeholders to a common understanding. We can help with all of the below:
- Document the current state process through workshops and interviews
- Conduct business analysis and SWOT review to identify limitations in the current process (efficiency, accuracy, speed)
- Propose possible opportunities and options for innovation to transform the current process (backed by the knowledge on how industry peers are solving the same problem and what solutions are available on the market).
- Get buy-in from sponsors and stakeholders and ensure there is an aligned view on ‘the problem’ to be solved and the ‘benefits’ of solving it. Conclude the above by articulating the ‘S.M.A.R.T’ Goals (i.e. Specific, Measurable, Agreed-upon, Realistic and Time bound)
- Put together cost benefits analysis and ROI projections (Return on Investment).
One of the most frequently undercooked yet a crucially important phase of innovation is design. It is the design that determines that we don’t not just solve the problem but create value. This is the phase where we need to have the imagination to completely reinvent an existing process, be creative and do something new. This is where we ‘Maximise the Potential’ of the opportunity and innovate. With this mind-set, RCloud has the skills to perform following:
- Target State Process Modelling – We will work with various client stakeholders to iteratively design the Target state process and outline how latest technology capabilities can be leveraged to create a business for future
- Draft Architecture Design and outline changes to existing systems, new systems and information exchange across various interface points
- Fintech/Regtech Vendor Selection. Based at Level39 London, we are an active member of UK Fintech Ecosystem and connected to number of companies specialising in Automation, Machine learning, AI, Cloud Computing, Big Data and Blockchain solutions. We actively study and review multiple solutions available on the market which helps us identify the right product/vendor to solve specific problems.
- Run a ‘POC’ (Proof of Concept): We can run low cost Proof of Concepts (fast), and validate if the intended design will work and deliver the expected value
- Validate the design with Internal and external stakeholders and ensure their buy-in.
This is the phase where the ideas start taking shape. There is a flurry of activity from writing code, testing, production release and getting the business to adopt. Often the tasks are spread across multiple teams in various locations with interdependencies on each other. Expected risks can materialise and unforeseen issues can come-up. All of this requires careful planning, clear definition of roles and responsibilities, process to resolve issues and gravitas to execute delivery of the original vision.
RCloud can provide Programme Management capabilities and help with following:
- Structure the Programme into effective delivery work-streams and mobilise the team
- Planning – Put together detailed plans, confirming tasks, owners, interdependencies and schedule
- Execute ‘fast’ and ‘lean’ using Agile and DevOps methodologies. Run a ‘Pilot’ to mitigate delivery risks.
- Manage delivery to plan, setup appropriate governance to resolve risks and issues. Maintain engagement and interest of Programme Sponsors.
- Rollout to production and work directly with affected business users to ensure any on-boarding issues are understood first hand and resolved immediately. Handover to BAU with appropriate training and embed the process.
Following three aspects of our proposition make us successful in driving innovation:
- Deep understanding of FS business: We pride ourselves on our content knowledge and understand the various banking and asset management processes e.g. Trade Lifecycle, Credit & Market Risk Management, Treasury, Liquidity, Product Control, Investment Research, Portfolio Management, Wealth Management, Client On-boarding, KYC, Regulatory Obligations
- Programme Management & Delivery Capability: Our consultant team have proven track record of delivering large scale transformation for Investment Banks and Asset Management Firms.
- Insight into the latest Fintech solutions and what your peers are working on: Based at L39, we are an active member of the UK Fintech ecosystem and connected to over 100 Fintech companies providing cutting edge disruptive solutions using AI, Machine Learning, Cloud computing, Big Data and Blockchain.
Gaurav Bansal (Founding Partner)
Gaurav is the founding partner at RCloud. He is a Transformation expert, specialising in Risk and Regulatory Change. Over the years, he has successfully led and delivered large scale change programmes, managing annual budgets of up to 30 MN dollars, for industry leading organisations such as Goldman Sachs, Credit Suisse & Fidelity. He is an expert at designing Target Operating Model for various business functions such as Market Risk, Operational Risk, Finance, Front Office, Trading and Investment Research.
Nic Lenz (Strategic Advisor)
Nic is a Senior Executive with extensive experience in leading business growth for some of the largest financial institutions in the UK. He has (re)built the fixed income franchises for the likes of Morgan Stanley, UBS and Bank of America Merrill Lynch with a particular focus on the Benelux and Scandinavian institutional client base. Skilled in managing transformational projects, implementing new processes and streamlining complex operations for maximum productivity.
RCloud is always on the look-out for talented, high calibre people with experience of working in financial sector. If you are excited about fintech innovations and would like to get involved then reach out to us at: