Case Study: FincapNet
FincapNet is a modern investment management company that capitalizes on cutting-edge technology to revolutionize Hedge Funds investment strategies. We believe that FincapNet investment should be accessible to everyone, and we strive to simplify the process. With a focus on leveraging technology and data-driven analysis, we aim to help our clients achieve their financial goals with maximum returns & minimum risks.
Project Overview
In recent years, the Hedge Funds industry has experienced significant growth and has become a prominent player in the global financial market. According to industry reports, the total assets under management (AUM) by Hedge Funds reached a record high of over $3.8 trillion in 2021.
FincapNet provides investors with the opportunity to diversify their portfolios and potentially achieve above-average returns. With latest technological advancements the chance of achieving maximum returns for minimum risk is not far away.
Xeltec built FincapNet from scratch to be a holistic fund management system. The application features centralized funds management for easy access to information. The information is deployed on Amazon Web Services (AWS) for scalable cloud operations. React is used to develop rich & user friendly user interfaces.
Following are the services provided by the application:
Centralize fund Information
Live Meeting / Chat
Investor Community
Companies Insights and Post Feed
Notifications and Reminder
Key Findings
Following are the key findings of the project;
Onboarding Hedge Funds & Allocators
Onboarding Hedge Funds & allocators and ensuring their authenticity is a crucial part of managing a Hedge Funds company. This was a major challenge we faced in the development stage of the application.
Onboard Funds & Gather Their Data
Gathering data of Funds & onboarding them was a challenging task. Information about the funds was the basic requirement for the development of the application.
Hedge Funds & Allocator Community
Establishing a community of Hedge Funds & allocators was a no brainer for a product like this. We took it to the next step with user to user, and allocator to allocator communication. This was particularly challenging because Xeltec wanted to build a community of active users.
Problem Statement
During the journey, Xeltec faced the following challenges;
Tracking & Gathering Fund Data
Efficiently tracking and gathering fund data poses challenges in terms of data accuracy, timeliness, and integration from diverse sources, hindering informed investment decision-making and portfolio management.
02
Operational Efficiency:
Enhancing operational efficiency enables Hedge Funds to optimize processes, reduce costs, and improve overall performance, leading to better risk management and higher returns for investors.
03
Cybersecurity Risks:
Addressing cybersecurity risks is vital for Hedge Funds to protect sensitive financial data, prevent unauthorized access, and safeguard against potential breaches that can have severe financial and reputational consequences.
Implemented Solution
For the above-mentioned problems, Xeltec implemented the following solutions:
Track & Gather Fund Data
RabbitMQ and Quads can help track and gather fund data by providing efficient messaging and workload management capabilities. RabbitMQ ensures reliable data exchange between components, while Quads optimises task scheduling and resource allocation for efficient data processing.
Enhancing Operational Efficiency
Xeltec used the following tools for FincapNet to maximise the operational efficiency and reduce the cost of operations.
SES (Simple Email Service) SES is used for reliable and scalable email sending and receiving.
Twilio Twilio is used for cloud communications, integrating voice calls, SMS messaging, and video chat into applications.
SignalR (websockets) SignalR with websockets enables real-time communication and updates between server and client applications.
CloudWatch Provides real-time insights and operational visibility into the performance and health of AWS resources and applications.
Elastic Container Registry Elastic Container Registry is a service that allows users to store, manage, and deploy Docker container images securely and reliably in the cloud.
Cybersecurity Risk Solutions
Xeltec has implemented the following security measures to minimise the cybersecurity risk and protect the client’s data.
Email & phone verified Email & phone numbers are verified so all users are legit.
OTP required for sign in OTP is required every time a user login to the portal.
Session is regulated by token times Once a user login, tokens are generated which correspond to the session allowed to a user. Once the session expires, it requires re-login.
APIs are cross origin protected All APIs used in the FincapNet are cross origin protected.
Results
With successful implementations and problem-solving techniques, Xeltec was able to connect advanced technological solutions with fund management systems and improve the efficiency of the system. Xeltec achieved the goal which was to make sure all portfolios for fund management are available on FincapNet.
The Marketing site has allocator & Hedge Funds portals for easy classification & allocation of resources. With the appropriate techniques, FincapNet has now a portfolio of over 250+ companies in a time of 6 months.
