Overview
The growth of applicability of distributed ledger technology (DLT) to use cases within the financial sector has necessitated significant introspection by firms with regard to existing technology stacks and business processes. TenDelta believes that understanding a firm’s internal data structure and integrity (including data ownership), how data and processes flow between systems and groups, as well as how specific DLT applications may or may not integrate with existing systems are critical to the successful application of DLT in both the near- and long-term.
The client desired to understand both the tactical (i.e. near-term) goals that should be weighed for the successful implementation of a specific DLT proof-of-concept (POC), as well as the strategic considerations to more broadly integrate DLT within its syndicated loan book of business in the future. TenDelta’s role as a technology innovator (including leading the loan asset class FpML initiative) coupled with deep understanding of business processes within the syndicated loan market made TenDelta uniquely equipped to provide the niche consultation that the client sought.
Business Goals
- Understand the immediate tactical goals that need to be fulfilled in order to implement a specific DLT POC within existing technology and business process framework.
- Detail the broader strategic considerations to more fully integrate DLT across the syndicated loan book of record, as the technology continues to evolve.
Business Challenges
Identify Current State Process and Data Flows
- Careful analysis was required to understand the ways in which the client’s data currently flows between systems and data dependencies.
- Business processes needed to be inventoried and examined in order to identify ‘true’ information ownership and points of process or data entry redundancy.
Define Short- and Long-Term Path
- The client required both a recommendation to potentially implement a specific POC in the near term, as well as guidance with regard to a long term vision and the demands of realizing deeper integration of DLT into existing technology architecture and business processes.
- The ultimate product of the effort needed to be expressed in a concise ‘executive summary’ fashion that articulated both short- and long-term path in unambiguous language.
Value Proposition
Technology Expertise
- TenDelta’s direct involvement in a specific DLT POC as a subject matter advisor, as well as leadership in other straight-through processing technologies and initiatives (including heading Loan FpML) makes it uniquely qualified to consult the client on DLT.
Industry Expertise
- With true ‘cradle-to-grave’ syndicated loan experience, TenDelta is able to offer a perspective that encompasses consideration for every stage of the lifecycle when thinking about applicability of DTL, now and in the future.
Data Management Expertise
- From working with vendors to develop interfaces to existing data pools, to developing custom code to manage data transformation, data warehousing, and querying, TenDelta understands the value of data management on an intimate level.
Outcome
TenDelta delivered to the client thorough yet concise analysis explaining critical points of focus and consideration from both a tactical and strategic perspective when considering DLT. Key client stakeholders derived value from discussions orchestrated by TenDelta, which focused on not only the specific POC in question, but also a broader perspective of future applicability of DLT.
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