Long-Term Nearshore Partnership with M.M. Warburg & Co
SUMMARY
- Client
- M.M. Warburg & Co
- Tech stack
- SonarQube, YouTrack, Artifactory, Java 11, Ansible, Jenkins, Spring Boot
M.M. Warburg & Co – one of the world’s most renowned private banks needed tailored modernisation without building an in-house team. The bank chose Profinit as a nearshore partner from the Czech Republic, combining proximity with cost efficiency. After rapid alignment via workshops and PoCs, we integrated Java-based and core technologies with existing platforms and quickly released a suite of robust, cost-efficient applications – delivered on time and to budget.
Results
Project Background & 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 & Results
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.
HEAR FROM THE CLIENT
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.
