Building The Foundation Of A Technology Solution Currently Worth Over $10M Globally

Case Study

Building The Foundation Of A Technology Solution Currently Worth Over $10M Globally

Date:

January. 16, 20

Service Offering: Technology Consulting

Founder of Eleven Consulting Nishadi Ranasinghe, was part of the original Markit Counterparty Manager (MCPM) team formed in 2007 and for 6 years worked to engage the 5 partner banks to develop an intuitive technology solution now worth over $10M 

IHSMarkit is currently one of the largest global data and information services businesses operating in a variety of different industries, including automotive, maritime, energy, and financial services.

Markit Counterparty Manager (MCPM) was added to the company’s suite of financial services solutions as part of a merger between Communicator and Markit in 2007. The task was to reimagine and develop a legacy system into a new solution ready for banks to adopt.

The problem trying to be solved was that for KYC in banks, there was no secure, auditable way of sharing documentation and data between corporate investors and their banks. It often involved a lot of manual back and forth over email.

Nishadi was the account management and business analyst team engaging users for requirements, as well as ensuring once implemented, the system changes were marketed, and users were engaged to use new features.

Our solution:

  • Leveraging the design partner working groups and selected users, Nishadi ran user workshops to gather requirements.
  • Once the development team built solutions, Nishadi re-engaged users to complete user testing, creating a mock environment within the office and inviting clients to come in and participate in an interactive session [trailing] specific use cases.
  • Nishadi engaged directly with teams aiding them in training on how most efficiently to use the system by deploying an initial bulk upload of data.

The result:

From being a fledgling start-up business in 2007 contributing nothing to the firm’s revenue, today Markit Counterparty Manager has resulted in the addition of 5 new product offerings and is being used in most tier 1 and 2 investment banks globally. This is attributed to the robust foundation built with the original user-orientated design of the system.