FinSwitch, a key player in the South African collective investment industry, completed the first phase of a major data automation project when its FinSwitch2 Price Module went into production in May this year. FinSwitch provides a central platform for the sharing and switching of information such as prices, transaction instructions, transaction confirmations, income distribution and retail institutional splits. The new price module, developed by Digiata Technology Services, will help to streamline the sharing and switching of data.
The roll-out of the FinSwitch2 Price Module, which replaces the price module of the existing FinSwitch System, marks the successful completion of the first phase of the FinSwitch project. The second phase will see a complete replacement of the existing system, with a third phase providing users with a wider spectrum of interaction options.
FinSwitch MD Tim Holmes said: "Our interaction with Digiata has been very positive right from the beginning. Initially, there was some concern about how the Agile programming technique would work for us, but it has proved to be a very good fit. We needed to tweak the system based on client feedback. Running with a fixed specification would, therefore, not have worked. Digiata`s methodology has allowed us to release code onto our test platform on a weekly basis. This means we have been able to get instant feedback from clients on its usability and to roll-out changes for them to review within a matter of days. So far the project has been delivered on time and according to budget, despite our making numerous changes to the original specifications as we fine-tuned our requirements."
Marc Joubert, Digiata`s project leader, said: "We`ve embraced this exciting opportunity to re-think every aspect of the FinSwitch process, and are really enjoying the project. We trust that our efforts will further streamline the sharing and switching of information, by providing more automation options for all the different role-players in the industry, along with a richer, hopefully mind-blowing, user experience. We look forward to delivering the final phase before the end of the year."
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