Revolutionizing Financial Operations: Spirent Automation Saves $8MAccelerates Testing by 97

CASE STUDY

Transforming Financial Operations: Maximizing Efficiency and Savings with Cutting-Edge Automation

A global financial services powerhouse renowned for its leadership in investment banking, consumer finance, small business banking, transaction processing, and asset management operates across more than 60 countries with a workforce of almost 300,000 employees. This institution has significantly invested in technology to harnessand automation for boosting operational efficiency while enhancing customer experiences. The organization's mission is to streamline workflows for brokers, bankers, traders, money managers, and back-office personnel without compromising on stringent regulatory compliance deadlines or robust security standards.

Challenge:

Faced with the challenge of staying abreast of testing demands necessary to ensure network hardware and software adherence to security protocols and regulations, this leading financial institution grappled with an ever-growing backlog due to increasing online processing volumes and expanded device diversity. The company encountered difficulties in meeting timely updates to network equipment, resulting in escalating mntenance costs for outdated systems.

Key challenges were:

• Testing delays that led to substantial release delays.

• An uning increase in testing backlogs.

• Significant annual outsourced testing expenses totaling $10M.

• Inefficiency, with only a fraction 10 out of 1800 cases being automated through in-house efforts over the course of twelve months.

Solution:

The Spirent team collaborated closely with this global financial services giant to develop an ROI model spanning eighteen months. This strategic approach med at addressing existing inefficiencies, optimizing expenses, averting costly outages, and expediting testing timelines by leveraging Spirent's advanced automation suite comprised of Velocity Core, Velocity iTest, and Velocity Switches, in tandem with the engagement of Spirent Managed Solutions to achieve substantial savings and efficiency gns.

The comprehensive solution encompassed:

• -to- automation of lab access switches, test automation processes iTest, and lab management workflows Core.

• 24x7x365 automated lab access and reservation management.

• Enhanced coverage and accelerated capabilities for regulatory compliance checks biannually.

• Cross-department collaboration through shared and standardized test scripts, facilitating seamless testing across various teams.

• Virtualization expertise to support the modernization of testing labs and streamline processes.

Key Outcomes:

• Dramatic reduction in test times from an eighteen-week cycle down to just eight hours.

• Expansion of in-house testing capabilities, generating annual savings of $8M.

• Reduction in manual labor costs for lab queue wts and increased lab capacity, saving millions.

• Prevention of one performance outage per month, avoiding losses totaling $3M annually.

Targeted Goals:

• Save substantial time through automation of test execution and lab management processes.

• Increase the scope and capacity of testing, driving significant cost savings.

• Decrease external testing expenses while improving compliance and security posture.

• Ensure robust regulatory compliance adherence with comprehensive in-house testing coverage.

By implementing Spirent’s Velocity Automation Portfolio alongside support from Spirent Managed Solutions, this global financial services powerhouse is on a transformative journey towards modernizing its testing infrastructure and optimizing workflows for substantial cost savings without compromising high standards of security or ensuring regulatory compliance conformity.
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