Headquartered in Zurich, SIX (Swiss Infrastructure and Exchange), provides financial services and operates the infrastructure of Switzerland’s financial center for its users across 125 banks. It ensures the flow of information and money between banks, traders, merchants, investors, and service providers worldwide. SIX innovates continuously to develop new financial technology systems and offer services for securities trading, stock market transactions, financial information, and payment transactions.
The Corporate Actions Income department at SIX was heavily dependent on the expertise of key employees and numerous systems to handle an average of 1,500 cases daily. The process to review Corporate Actions Events and SWIFT Messages was manual and time-intensive.
There was limited transparency to check on case status and provide near real-time reporting. The employees had to collect the required information in different SIX systems and manually collate reports.
One of the business units within SIX, the Securities & Exchanges (BXS) group, is using Appian to standardize, streamline, and automate processes. The new solution, “Unified Workflow Solution” (UWS), is also helping the group increase transparency on transactions and minimize operational risks at the same time.
This strategic initiative uses Appian as a technology platform and serves as a foundation for upcoming new digital transformation programs within SIX. New projects and other groups will benefit from the established infrastructure, reuse components, and create more applications faster to high security standards.