LG CNS Finance

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Case Study

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Woori Investment and Securities New System Securities

Project Overview

With the establishment of Capital Market Consolidation Act in 2007, Woori Investment and Securities felt a strong need to establish flexible IT infrastructure that can support them navigate changing business landscape of the securities sector. By moving away from mainframe system and establishing an ERP system based on open architecture, Woori Investment and Securities aimed to reduce system maintenance cost, greatly improve capabilities in hybrid product development and time-to-market, respond to rapidly increasing number of CMA and fund product customers, and prepare for expanding scope of derivatives business.

- Project Period: May 2007 – December 2008 (19 months)

Customer

- No. of Employees: 3,082
- No. of Branches: 117
- Capital Stock: 786.8 billion KRW
- Average Monthly Trading Volume: 2.1 billion shares

Customer Needs

Key Project Features :
It was the first Next Generation System project following the 2007 establishment of Capital Market Consolidation Act. The project was undertaken as “Big Bang” style system overhaul to implement an ERP system (brokerage and trading) based on an open architecture.

Project Detail:
- General Ledger (Transaction BL)
- Integrated Customer Data
- Asset Management
- Product Management
- Audit/Compliance
- Accounting
- Product Factory
- Channel Integration and EAI Implementation
- Metadata and Integrated Monitoring
- EDW

Solution and systems

LG CNS has established top-of-the-line IT infrastructure to help Woori Investment and Securities grow into a sophisticated investment bank.

Proven UNIX Finance IT Platform Based on Framework
- Implemented Finance IT Platform based on UNIX system, downsizing from a mainframe system
- Implemented 24/7/365 online support system

ERP System with Framework Based 3-tier Architecture
Improved development and maintenance productivity with a 3-tier system architecture comprised of independent Presentation, Business and Data layers

EAI (Enterprise Application Integration)
To ensure efficient and accurate data exchange between systems, built integrated infrastructure that standardizes and simplifies interface protocol and specifications

MCA (Multi Channel Architecture)
Implemented a technology platform facilitating the integration of disparate service channels (branch, internet, call center, etc.) to improve the quality of customer service

Integrated Terminal System
Integrated disparate terminal user screens into One-stop Service screens to increase efficiency and convenience of branch terminal users

Implemented EDW
Improved data analysis capabilities and established systematic data quality management by implementing IT infrastructure facilitating the provision of integrated ERP data

Results

The implemented system maximized business continuity with 24/7/365 non-stop service and helped the company change its business model from brokerage to total asset management and investment banking.

- System speed increased by 25%
- Productivity increased greatly with automation
- Facilitated “time-to-market” of products and services
- Marketing capabilities increased with ERP system designed around WRAP account (Octo)

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