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ALM Securities success story
An Icelandic securities company offering financial services to businesses
Learn how HES helped ALM Securities to optimize lending workflow and accelerate loan processing.
Challenge
Automation of securities management
Between 2009 and 2022, the client relied on Excel spreadsheets for handling their fixed income
asset and liability transactions. However, with the expansion of their business, they
encountered a growing issue of escalating manual workload and a rising occurrence of human
errors. To address this challenge, the client sought the expertise of HES FinTech to implement a
cloud-based solution that would comprehensively automate intricate calculations and reduce the
need for manual data input.
asset and liability transactions. However, with the expansion of their business, they
encountered a growing issue of escalating manual workload and a rising occurrence of human
errors. To address this challenge, the client sought the expertise of HES FinTech to implement a
cloud-based solution that would comprehensively automate intricate calculations and reduce the
need for manual data input.
Approach
Custom system for securities servicing
After a detailed assessment of the project’s scope, the HES FinTech BA team identified the
client’s need for a fully customized securities transaction management system.
client’s need for a fully customized securities transaction management system.
The project presented four main challenges: automating comprehensive interest calculations,
enabling automatic payment issuance, producing real-time charts and reports, and ensuring
continuous synchronization of interest rate adjustments based on the Central Bank of Iceland’s
indicators. Furthermore, the system’s adaptability meant it could handle multiple currencies and
scale seamlessly with the client’s business expansion.
enabling automatic payment issuance, producing real-time charts and reports, and ensuring
continuous synchronization of interest rate adjustments based on the Central Bank of Iceland’s
indicators. Furthermore, the system’s adaptability meant it could handle multiple currencies and
scale seamlessly with the client’s business expansion.
To tackle these challenges, HES developers integrated the client’s accounting system with
services like CreditInfo and sourced EURIBOR, Stibor, and Nibor rates.
services like CreditInfo and sourced EURIBOR, Stibor, and Nibor rates.
Our team also successfully connected the system to the Central Bank of Iceland and various
commercial banks. For optimal performance and data security, the system was hosted on the Amazon
AWS cloud service.
commercial banks. For optimal performance and data security, the system was hosted on the Amazon
AWS cloud service.
8 min
to submit a loan application
6 months
time to market
100%
digital loan processing
Result
6 months from idea to working business
Consequently, the client received a fully functional and dependable system for overseeing
securities transactions. The intuitive user interface streamlines manual data input, resulting
in time savings for employees. Furthermore, the automated calculations have notably decreased
the occurrence of errors, reducing the impact of the human factor. The system has continued to
operate successfully, effectively optimizing the client’s operational expenses.
securities transactions. The intuitive user interface streamlines manual data input, resulting
in time savings for employees. Furthermore, the automated calculations have notably decreased
the occurrence of errors, reducing the impact of the human factor. The system has continued to
operate successfully, effectively optimizing the client’s operational expenses.
After the launch, ALM Securities requested assistance with the onboarding phase. Our partnership
has since expanded, and the HES team now offers technical support and system enhancements.
has since expanded, and the HES team now offers technical support and system enhancements.
At HES Fintech, we’re eager to propel ALM Securities towards new horizons of financial excellence.
storing all our data in Excel to a fast, reliable, and user-friendly platform that caters to our
specific needs.