FINAD AG, based in Zurich and Vienna, specializes in asset management and financial advice for private investors. Since its founding in 1976, FINAD AG has steered its customers and their assets through critical phases. In 2014, FINAD decided to outsource its entire IT infrastructure to the redIT data center. redIT therefore acts as FINAD's IT outsourcing service provider - find out everything about the collaboration in the following success story.
When Alfred Schwarzenbach and Miguel Steiner in 1976 FINAD AG founded, they were way ahead of their time. At that time, the first considerations about the market portfolio theory were already published. However, these new findings were not yet available to private investors. At the same time, the first derivatives conquered the market and caused investors' time horizons to shrink from decades and years to days and hours. In the same decade, the Western world was hit hard by the oil crisis. As a result, the stock markets lost up to 50 percent. A seven-year dry spell followed for stock investors. In this increasingly complex and volatile environment, Alfred Schwarzenbach and Miguel Steiner recognized that independent and transparent advice for private investors is of great importance. With FINAD, they implemented their findings into a business model that complements classic asset management with contemporary advice and an individual, diversified and consolidated asset organization. Today, FINAD is a financial sector company with headquarters in Zurich and a branch in Vienna and therefore operates internationally. Around 30 employees work at FINAD AG.
As FINAD became increasingly international, the demands on the company's IT infrastructure also increased. Central calendars, uniform document management and uniformly regulated security standards were just some of the associated challenges. Overall, the constantly growing requirements required a fundamental renewal of the IT infrastructure. Specialists from redIT were brought in for this project. After an initial inventory, they recommended outsourcing the entire IT infrastructure. Those responsible at FINAD responded to this suggestion
initially with skepticism. However, further consultations showed that such a solution offers a number of advantages. Martin Hartmann, the manager responsible for FINAD's IT, recognized the new opportunities associated with outsourcing: "I saw the opportunity for the company to drastically reduce our effort in supporting internal IT and to focus more on my job as a portfolio analyst within FINAD AG. » In the course of the consultation it was also shown that the processing of FINAD data by redIT's external professional data center can significantly increase security. This is in comparison to conventional in-house solutions.
Especially for a financial institution like FINAD, it is a process of considerable consequence to outsource its IT infrastructure. In addition to the internal requirements, a whole range of industry requirements and legal regulations must also be met in order to implement such a solution. In addition to outsourcing, other challenges had to be overcome. The numerous applications and programs had to be centralized via appropriate interfaces. One goal here was to make the three core systems CRM, portfolio management system and document management available centrally and separately for the branches.
Outsourcing the FINAD IT infrastructure to the redIT data center was anything but routine for everyone involved. “redIT didn’t know all the systems and stakeholders,” says Mr. Hartmann, describing the initial situation, “but they worked intensively on it and helped to find the right solutions! redIT was able to make excellent use of its skills as an IT GU in this project.”
A solution was implemented for FINAD in the redIT data center that can cover all of the financial institution's specific requirements. The key to the success of the current solution is primarily the fact that FINAD can guarantee its customers the highest level of data security thanks to outsourcing to the redIT data center.
“In retrospect, switching to the outsourcing system was easier than expected,” summarizes Mr. Hartmann. The employees also quickly got used to the new situation. Above all, they appreciate the new freedom of being able to use the system from anywhere and having quick access to all relevant data. “The solution we chose is safer, more comfortable, future-oriented and, according to our internal cost accounting, even more economical!”
“The chosen solution is safer, more comfortable, future-oriented and, according to our internal cost accounting, even more economical for us.”
Martin Hartmann
Portfolio analyst and IT manager, FINAD AG
• The overview
• The customer
• The initial situation
• The request
• The solution
• The conclusion
• The overview
• The customer
• The initial situation
• The request
• The solution
• The conclusion
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