CitcoOne™: Citco’s innovative web platform makes it easy for clients to make better decisions. It doesn’t just deliver data – it delivers answers
Like many things, CitcoOne™ began with an innocuous question. It was time to refresh the web portal and universal opinion within Citco was that the next version needed to deliver more data. But when we talked to clients about what they wanted, they talked more about outcomes, such as transparency, insight and user experience. All these discussions coalesced into one when a client asked: “But how can you make it simple?”
While the web has proved an efficient way to deliver statements to a large and constantly changing group of stakeholders, operational platforms and offline communication have still done much of the heavy lifting. Excel, emails and static reports even now perform a lot of the work.
Making the complex simple
The trouble is that administrators’ web portals take the complex and keep it complex. What makes CitcoOne™ radically different is that it borrows the best practices emerging in Silicon Valley to improve the user experience. It achieves the difficult goal behind many successful technology products of making the complex simple.
The CitcoOne™ project began in late 2013. Approximately 15 clients were interviewed about their needs. But then we also spoke to a number of next-generation financial technology firms in Silicon Valley. Financial services’ technology often lags best practice and we wanted to get ahead of the curve.
With big data technologies, it has never been easier to provide data. However, firms are drowning in data, and making sense of it is highly complex. Everyone involved in CitcoOne became convinced that we would need to rethink the web experience, and with that came the tacit acceptance that simplicity could only be achieved through building something radically different.
CitcoOne™ has evolved into a simple way to monitor, survey and explore the information that is important to the user. It leverages new technology frameworks to intelligently expose different levels of content. This allows users to find answers with minimal time and effort. Whether you keep the platform open all day for real-time reconciliation updates, or just log in late afternoon to review daily service level agreements, CitcoOne™ consolidates the underlying data across all key operational platforms and workflows.
By itself, that’s quite an achievement, but there was another challenge: could CitcoOne™ help you make sense of that data? To achieve this goal, we incorporated a full suite of dynamic visualisations designed for data mining. Instead of simply capturing data, this allows you to frame questions about the data in an intuitive, visual way, while jumping across different lenses of information. It’s not just self-service to your data, it’s self-service to the answers important to your business.
When someone asks for simplicity in technology, it’s easy to mistake that for simplistic technology. But the real question is: “Can technology give me exactly what I need to make better decisions?” That is the accomplishment of CitcoOne™.
CitcoOne will be available to clients from the second quarter of 2016.