The Ledger

A digital finance blog

The Ledger

Posted by Sarah Werner

Happy Holidays from Aptitude Software!

Like most of Aptitude Software’s customers, Santa had been struggling with a significant increase in his business transaction volumes and the complexity of evolving regulatory requirements.  Growth in population and the number of data sources, combined with the high expectations of customers, are affecting financial services, telecommunications and Santa alike.

The good old days

“Back in the 60’s I had no problem processing the 1 Billion Christmas lists from children around the world.  They only asked for one or two things each and sent me their letters weeks in advance, giving me plenty of time to process them.” says Santa.

santa 3“Today I have 90% more Christmas present contracts to process, some with a contract to present ratio of 1:20!  This generates over 10 times more transactions than my Magic system could cope with.  And today’s connected generation send me requests from all different data sources (email, Twitter, Instagram, this Snap-thingy.)  For me, this has become The Nightmare Before Christmas," said Santa.

He is not alone. This is a common problem faced by most large Finance organizations. The legacy systems that have served them well for many years are just not equipped to deal with this new paradigm.

Aptitude Software to the rescue

Fortunately for Santa, he discovered Aptitude Software and quickly learned how our solutions could help to transform back office systems and processes and enable him to continue delivering to his customers on time while meeting his regulatory obligations.

Implementing one of Aptitude Software’s engines also means Santa can easily comply with the new ICRS25 (International Christmas Reporting Standards) regulatory requirements, producing his audit submission well before year end, a process that used to take him and his Excel Elf army until February to complete. “It has been a pleasure working with Aptitude Software, and I am now finding the time to eat all the mince pies and cookies I collect during my deliveries, comfortable in the knowledge that I am fully compliant,” Santa concludes.

Santa is also delighted that his Elves have found additional benefits from using the Aptitude (technology) platform. It puts them in control with visual business rules, and they stay busy producing ‘rule art’ to decorate the vast mail room at the North Pole.

We wish our customers, prospects and community a very happy holidays. Many happy (financial) returns!

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