Gottex Brokers Alternative
Better compliance and customer service in financial investments management with the Bonita platform.
Gottex Brokers is a bespoke interbank and institutional broker, specializing in over-the-counter (OTC) interest rate derivatives in a variety of currencies.
As the premier interdealer broker for OTC interest rate derivative products in Swiss Francs, Gottex Brokers has retained its position as the benchmark reference for market participants for over 15 years.
Gottex Brokers Alternative abandons spreadsheets to automate compliance and improve tracking of complex financial transactions.
Gottex Brokers Alternative, a financial service firm acting as an intermediary in the secondary market of hedge funds and private equity shares, is subject to some very specific and specialized compliance regulations, and needs to precisely keep track of clients’ sometimes complicated financial transactions.
They needed to better insure proper audit trails on actions taken, and management approval on certain tasks. Further, they were ready to get rid of a system of spreadsheets that led to excessive administrative overhead and were willing to move to a more automated and reliable process.
The Gottex technology team chose Bonita, to be implemented with the support of Bonitasoft Integration Partner AiM at the start, to produce process based applications quickly without the need for intensive development.
Bonita Studio’s graphical user interface made it relatively easy for them to design their processes, and they used the web forms integrated into Bonita.
Previous experience with Bonita Community edition convinced them that Bonita was in line with their own technology vision, that is, Java-based and open source.
The choice of Bonita
Specific Bonita features critical to their needs included many connectors (for file saving, PDF creation, Dropbox and Egnyte cloud exchange), interfaces with an external JasperServer and BIME for reporting against their business database, multi-instantiation, iteration, and more.
“Everything offered by Bonita was pretty much used. Bonita allowed us to quickly get into BPM and into production, due to familiar tools and its ready-to-go portal. We needed very little customization to the out of the box web interface. Today the Bonita Portal is used for both users and admins.” - Fred Blaise, Sr. Technology Officer at Gottex.
Key benefits of the project.
Gottex used Bonita to manually deploy one main process with multiple subprocesses. There are about 100 live cases with 10 end users, each case running over several months.
There are no more unreliable spreadsheets, less manual “grunt work,” and better understanding of the business process all around. Process-based applications ensure that strict compliance requirements are technology enforced, with reduced opportunities for human error.
And to better serve their clients, Gottex’s process automatically updates trade figures in real-time. According to Fred Blaise, “We are now more efficient, less error-prone, and have the necessary audit trail on each transaction to fulfill both our accounting and regulatory requirements.”
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"Bonita allowed us to quickly get into BPM and into production, due to familiar tools and its ready-to-go portal. We are now more efficient, less error-prone, and have the necessary audit trail on each transaction to fullfill both our accounting and regulatory requirements.”
Fred Blaise, Sr. Technology Officer, Gottex Brokers Alternative