Long-Term Nearshore Partnership with M.M. Warburg & Co
SW development processes optimised
Nearshore cost savings of 65%
Long-term collaboration
Project Brief
Develop custom software capabilities for a leading Germany private bank as part of a long-term nearshore partnership.
In Profinit, we’re delighted to have found a professional partner that will help our bank to develop custom applications well into the future. We look forward to working together on ideas for new projects across our extensive portfolio.
Rainer Vorwerk
Systems Delivery Manager at M.M. Warburg & Co
Challenge
M.M. Warburg & Co is a major German independent bank based in Hamburg specialising in capital markets, corporate banking and asset management. Established in 1798, it is one of the world’s most renowned private banking institutions. As part of its ongoing commitment to ensure investment success, the bank is keenly aware of the importance of technology and software innovation to safeguard the interests of its discerning client-base.
The specific needs of private banks such as M.M. Warburg & Co require a tailored modernisation strategy. In order to provide the bank’s existing system with the functionalities it required, custom software development was the only viable solution.
However, budgeting and operational constraints ruled out engaging the services of an in-house development team. As a result, outsourcing to a nearshore provider became an attractive option.
Business Needs
The solution needed to meet the following targets:
- Support business through legacy modernisation
- Respond more flexibly to changing requirements
- Engage in long-term collaboration with a nearshore team
- Apply a bespoke tech stack to optimise costs
Solution
Profinit was chosen as the bank’s nearshore partner to help the transition. With our base in the Czech Republic, we were able to offer our German client the benefits of geographical and cultural proximity in addition to the well-known cost-saving benefits of nearshore outsourcing.
With long-term partnership in mind, our team of software engineers worked quickly to establish close cooperation with members of the bank’s IT department. Team alignment began with a series of workshops and PoCs emphasising quality and strict adherence to budgeting and time management.
After receiving client approval on production feasibility, our partnership with M.M. Warburg & Co was widened. We subsequently launched our custom solution at a professional client presentation in November 2018. The shared goal was to deploy freely accessible Java-based and other core technologies that would integrate with, and maximise, the capabilities of the bank’s existing platforms.
Profinit proceeded to successfully release a suite of cost-efficient and robust applications for the client in an impressively short period of time.
Tech Stack
Java 11
Spring Boot
Artifactory
Jenkins | Ansible
YouTrack | SonarQube
Project Summary
We applied the Profinit Modernisation Framework to deliver a custom software development solution for our client as part of a wider long-term nearshore partnership.
- Bank’s ability to meet market challenges expedited significantly
- Nearshoring resulted in 65% savings compared to German providers
- Seamless transfer of knowledge and alignment with client’s IT department
- Fine-tuned and ongoing coordination on SDLC to realise development goals
- Future agreements established on other long-term projects for the client