Financial services provider, Efficient Group, is reaping the rewards of an infrastructure modernisation programme, made possible through a partnership with Braintree. Core to this move has been the consolidation of data from a multitude of financial services providers into one Efficient group database – the single view of and for the client.
An initial in-depth needs assessment and Microsoft Cybersecurity Assessment also revealed potential security vulnerabilities that required resolution.
As a Microsoft Dynamics partner, Braintree facilitated the implementation of Azure as a secure, powerful foundation on which to seamlessly integrate all business operations. What has resulted is a first of its kind app for South African investors that provides a 360-view of all financial services related products and services.
Improvements in productivity and compliance were catalysts for this systems upgrade, with security being the biggest priority. The Efficient Group has over 500 employees, many of whom operate remotely and in field, in addition to partnering with more than 200 financial advisors across South Africa. The need to solve complex data sharing challenges and the mitigation of common threats were integral to the modifications undertaken.
With the ageing and increasingly complex infrastructure no longer able to interoperate as efficiently as needed, a wealth of Microsoft opportunities were uncovered, and the Efficient Group were fully onboarded to Microsoft 365 and its data centre transformed and moved to Azure. The group is now running on a 96% Microsoft Secure score, in line with international best practice.
Other Microsoft capabilities such as Teams were also used as a solution to consolidate vast amounts of emails, online video calls, collaborative spreadsheets and documents shared between employees from multiple locations. Through this process, Braintree also limited overspending and underutilisation by doing a comprehensive review of all licenses and productivity suites.
“Financial services have historically been technology laggards, but we are building platforms that will make us a pioneer, based on future proof infrastructure,“ says Heiko Weidhase, Chief Executive Officer of the Efficient Group.
The app, which has been a work in progress for ten years, would not have been possible without the advanced digital solutions now available, the scalability of the cloud, improved connectivity and the enhanced security which is now fully incorporated into the system.
Doug Morrison, Strategic Head Microsoft 365 Braintree, says that the interoperability enabled by Microsoft eliminates complicated development. “As partners, we are reaping the rewards of the investments Microsoft has made over the past 8 years across security for infrastructure, networks, applications and devices – so we have a totally robust solution to take to market,” he says.
Not only has this integration enhanced efficiency and security within the group, but it has provided users with a secure, consolidated and easy-to-use overview of their investments, irrespective of platform or product provider.
Weidhase says that most South Africans don’t save enough for retirement because they don’t fully understand how much they have invested. This new app enable investors with instant access to information to enhance their investment decisions.
In line with Efficient Group’s strategy to harness technology to drive value for its clients, this app is just one of the innovations that the company plans to roll out in future, all enabled by the infrastructure and security upgrade to Azure. Up next will be the launch of their financial well-being app for mobile and desktop, to be released later this year. The app will integrate with a multitude of product providers, empowering clients and advisors to work together to achieve better outcomes.
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