UEBiz selects Hoptroff TTaaS™ to ensure leading bank meets strict regulations

When a leading bank's capital markets team faced a dual challenge - meeting strict regulatory compliance standards whilst maintaining an uninterrupted service that avoided penalties from unsolicited audits - global solutions integrator Universal Technology Solutions (UEBiz) knew Hoptroff’s Traceable Time as a Service was the answer.  

Our partner, Universal Technology Solutions (UEBiz):

UEBiz is a trusted global solutions integrator with deep expertise in working alongside their customers to deliver tailored financial and trading services. 

What sets UEBiz apart is their team, many of whom bring years of experience from within the finance and banking industries. This insider knowledge has allowed UEBiz to forge long-standing partnerships by integrating cutting-edge solutions that meet the unique challenges of the financial sector. 

“When you choose Universal, you’re not just getting a technology partner, you're gaining a team that truly understands your industry from the inside out.” Jan Khodabaksh, Lead Consultant - UEBiz.

Problem

The bank was growing increasingly dissatisfied with its existing, well-known time feed service solution. The primary issues were a lack of in-house timing expertise and insufficient reporting capabilities. To address these concerns, the bank engaged UEBiz to seek an alternative solution that would meet the needs of its stakeholders and ensure regulatory compliance. 

For financial organisations, the reputational risks associated with non-compliance can severely impact their brand and reputation.

Solution

UEBiz recognized the bank's timing challenges and recommended Hoptroff’s Traceable Time as a Service (TTaaS™) as a solution for its global time synchronisation and reporting. 

UEBiz and Hoptroff collaborated closely with the bank’s technology teams, conducting several workshops to thoroughly understand the current situation and identify the best path forward. A proof of concept (POC) was conducted, spanning both on-premise and cloud services, to demonstrate the efficacy of the TTaaS™ solution.

Implementation

The team seamlessly managed the customer adoption, overseeing not only the timing aspects but the logistics, which included circuit orders, data centre component provisioning, and the execution of a detailed cutover plan. This plan included scheduled migrations from the bank’s old solution and rigorous failover tests to ensure seamless transition. 

Within three months, Hoptroff’s TTaaS™ was successfully deployed across 15 global sites, supported by 24/7 customer service. Currently, over 2000 clients are utilising the new time synchronisation solution, all of which report continuous UTC traceability.

Outcome

Ease of Compliance Reporting: The solution provided robust, straightforward compliance reporting, alleviating the bank’s regulatory pressures.

Cost and Time Efficiency: The streamlined deployment process and operational improvements resulted in significant savings in both time and resources.

Scalability and Speed: The quick deployment of the solution across multiple sites demonstrated its scalability, and the service continues to operate efficiently as an extension of the bank's existing team.

Jan Khodabaksh, Lead Consultant at UEBiz, highlighted the importance of Hoptroff’s TTaaS™ in meeting the bank’s compliance obligations:

“With market volatility at its height, we have an obligation to our customers to help them meet compliance requirements from their regulatory bodies. The collaboration with Hoptroff underscores the partnership’s capability in providing expert, scalable solutions tailored to complex financial environments for our customers, ensuring they maintain their reputation for reliability and regulatory adherence.”

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