#FinanceBanking #TradeMonitoring #CommunicationMonitoring

Background & challenges

In order to reinforce the control of operations and transactions, our customer wanted to implement a tool that could monitor the communications of certain participants (traders, sales staff, etc.). In particular, the aim was to detect any attempts at concerted action, or any practices outside the internal policies established for these professions.

This tool was designed to handle both written communications (e-mails and instant messaging) and voice communications (telephone).

This tool was designed to process communications for different countries and different business lines of the finance bank.

Against this backdrop, our customer wanted support during the project study and scoping phases, in particular to study possible options, estimate project and recurring costs, and carry out POCs with editors who might be able to meet the need.

The challenges of the project were as follows:

  • Identify the various software publishers who can offer solutions that can be used for this project,
  • The study of possible options
    • Option 1: Use of a market solution covering both electronic and voice communications.
    • Option 2: Use of different market solutions, for different types or channels of communication.
    • Option 3: Use of different modules (publishers or open source), integrated into a solution developed in-house.
  • The ability to estimate project and recurring costs over a long period of time (up to 10 years), given the estimated time required to implement the tool and the gradual incorporation of the different scopes.

In fact, a significant proportion of recurring costs is linked to infrastructure and the cost of certain licenses, which depend on the volumes processed.

Solution provided

To launch the project, it was decided to focus on voice communications, which had the greatest impact in terms of analysis complexity and resource requirements.

Moreover, the number of vendors offering solutions for this type of communication was much smaller, and their solutions still untested by the market.

Initially, we helped the customer identify the software publishers likely to be involved in this market, and then organized the Proof of Concept, in liaison with these publishers and the business representatives and decision-makers.

Secondly, we estimated the expected costs for the different phases of the project, as well as the recurring costs, in conjunction with the publishers and purchasing departments, and the business units, in order to work on the different scalability hypotheses.

At the same time, we drew up a provisional roadmap for realization and production go-live.

The option of an internal tool was not one of those favored at the start of the project, but the costs envisaged for an external solution led us to consider this avenue more seriously.

We therefore extended the study to include this3rd option, and carried out a POC in conjunction with the customer's IT teams, who had been identified as being best placed to design and implement such a tool.

Once the chosen solution had been identified, we defined the project roadmap and formalized governance.


Actions and deliverables carried out as part of the assignment :

  • Definition of POC comparison criteria and scoring rules,
  • Obtain or create the necessary test sets,
  • Creation of a scoring grid and a questionnaire for publishers,
  • Organization of environment setup,
  • Organization of visits by teams from different publishers (over different periods, while guaranteeing an identical context),
  • Analysis of results obtained (detection) and coordination of scoring by the various parties involved (purchasing, IT security, etc.),
  • In-depth discussions with editors or internal IT teams to explain and understand results,
  • Restitution of results,
  • Drawing up roadmaps, estimating costs linked to different assumptions,
  • Preparation and organization of steering committees, reports.

Skills and know-how provided by our firm:

  • understanding the needs and challenges of our customers, to define POC rating criteria and obtain or simulate communications to compare different solutions.
  • ability to organize on-site visits by the various editors, and provide them with the necessary environments and resources (the POC phase must be carried out on the customer's site),
  • technical skills to understand how the tools work, the results obtained, and to challenge the editors,
  • experience in managing projects to implement new tools,
  • ability to model different assumptions and estimate the impact in terms of volumes, number of users, and therefore costs.

Customer benefits:

The large number of criteria taken into account by the POC enabled us to identify the players best suited to our customer's needs, and to effectively measure the relevance and maturity of each tool envisaged.

Our ability to estimate long-term costs, while maintaining a detailed approach, has limited the impact of excessive approximations and provided us with credible projections.

These projections enabled us to gauge the value of an in-house solution, which we were able to assess with the same rigor and independence as external solutions.

This approach enabled our customer to choose the most appropriate solution, and to define the roadmap for implementing and scaling up this tool, while identifying and anticipating risks during the various phases of the project.

Quanteam expertise makes the difference

  • A team mastering both the business issues and the necessary technical skills,
  • Proven experience in framing and managing projects,
  • An ability to make proposals while integrating into existing organizations.

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