Enterprise Release Management for Wealth Management Business

Case Study - Release Management

The Wealth Management industry, more specifically Financial Advisory is going through enormous structural change as a result of legislative changes aimed at improving the quality of adviser consumers receive and increased access to more affordable kinds of advice. This is achieved through best interest duty, ban on conflicted remuneration, opt-in fee disclosure, and scaled advice. In addition to this, legislative reforms are also being introduced to strengthen the governance, integrity and regulatory settings of the pension system. The combination of these legislative changes results in fairly significant compliance changes to be made to a large number of systems within Wealth Management Institutions.

A large Wealth Management Institution in Australia sought the help of Plutora to provide transparency and control over how these changes would be planned, managed through existing test and validation environments and finally deployed into production.

Due to the large volume of change, high number of interdependent systems impacted and fixed timeframe, attempts to manage the release process using uncontrolled spreadsheets, slide packs and proprietary intranet sites were inefficient and all failed. Robust Enterprise Release Management was needed.

Plutora Release Management Solution

Within three weeks, Plutora was setup and able to provide a comprehensive view of the regulatory release schedule for the next 12 months, the nature of Institution wide quarterly release including dependencies, the composition of scope items in each release, and the necessary IT environments required to support the release approach.

Stakeholders always had a current view of what IT teams were working on and when those changes would be released to production. Releases continue to be delivered in a transparent and controlled manner without costly surprises.