Financial Services

Industries > Financial Services

Creating systems that manage money requires a level of attention second only perhaps to working on solutions for the military. Actually, if it’s your money, or your company’s money, or your clients’ money, there is nothing more important. extensionEngine has been entrusted with the development, management and support of a number of highly complex finance solutions for some of the largest and most successful firms in the world. Our appreciation for the highly confidential, redundant and mission critical nature of these systems has allowed us the privilege of working with these firms, and we plan to continue to grow along with them.

Client examples

J. Robert Scott is Fidelity Investments’ executive search arm. For the past 10 years, the group has run a compensation survey called CompStudy. The survey is distributed to thousand of participants worldwide, serving as a key marketing and business development tool for JRS. The company hired extensionEngine to develop the new online system, which is designed to automate collection of data  and serve as a dynamic platform for reporting of results.

JRS chose eE for the project because of its compliance with two crucial requirements:

  • Professionalism and experience: Since JRS does not staff in-house software engineers, it needed someone to take ownership of the project, understand its business needs and translate them into technical requirements. JRS also wanted seasoned development professionals to help them make technology decisions. After evaluating and testing several technologies, the eE team decided to build the system using open-source tools and platforms such as Drupal, a content-management platform.
  • Long-term perspective: After completion of software design and development, JRS needed a company to support its solution, as well as plan and build the next versions of the system. With more than 10 years of proven expertise in managing similar projects successfully, eE was chosen to fulfill JRS’ long-term plans.

Investcorp is a leading provider and manager of alternative investment products, featuring five lines of business: private equity, hedge funds, real estate, technology investment and Gulf growth capital. Investcorp’s executives invest in the firm’s alternative investment products, own shares in the company and are eligible for performance bonuses. Investcorp selected eE to create an advanced compensation management system to reduce the complexity of managing compensation for more than 400 current and former employees.

At the heart of the solution are a scalable database optimized to handle complex transactions and a flexible business rules engine that enforces financial rules and company policies. The system’s capabilities include:

  • Calculating gains, losses, taxes and currency exchanges
  • Automating dividends, payouts and reinvestments
  • Handling purchases, disposals and valuations
  • Providing real-time pricing for many investments
  • Enabling employees to track performance and change their investment positions
  • Securing sensitive information with data encryption and role-based system access
  • Ensuring compliance with evolving financial regulation

As a result of the efficiencies provided by the solution, Investcorp has entrusted eE to support and enhance its compensation system, create a comprehensive reporting suite and restructure all of its historical compensation data.