About BetaNXT
BetaNXT is an industry leader in the wealth technology space offering a vast range of products and services that support the investment lifecycle, tax reporting, and investor communications. BetaNXT provides a market-leading platform for automating and streamlining securities, custody, and operations processes with real-time data APIs and integrated workflows.
Situation
BetaNXT, a leading provider of wealth management technology, needed a streamlined and efficient way to onboard 50+ clients onto Oracle Cloud Infrastructure. Their previous onboarding process was complex and time-intensive, often requiring 2+ weeks, sometimes months, to complete the end-to-end process of setting up a brand-new environment and onboarding a client.
Action
Centroid leveraged its cloud expertise and deep technical knowledge of Oracle solutions, including Oracle Cloud Infrastructure, to help BetaNXT streamline cloud orchestration and set up cloud automation. Centroid leveraged several cloud automation tools such as Terraform, Oracle Cloud Infrastructure Registry, and Ansible to orchestrate rapid client deployments. In addition, Centroid helped BetaNXT streamline mission-critical processes across different teams—from infrastructure to development—to create a foundation to effectively implement new automation workflows and capabilities. Centroid was pivotal in helping BetaNXT establish standards to enable automation to run reliably and quickly.
Impact
Centroid helped BetaNXT simplify deployment complexity and substantially reduce deployment timelines from 2 weeks to just 2 hours, a feat which was deemed “unprecedented” according to BetaNXT’s Head of Technology Transformation & Initiatives. Being able to stand up a client environment that consists of 50+ assets and multiple components including production and non-production environments in just a matter of hours, almost on demand, was almost unheard of and it was a remarkable achievement for BetaNXT. In addition, Centroid helped BetaNXT attain $875,000 worth of savings in overall FTE costs as a result of the simplified deployment processes.
This acceleration of client deployment timelines has made a profound impact across several facets of the business—from the technology team to the business team to the C-suite—and has enabled BetaNXT to more quickly respond to and fulfill the technology needs of its expanding client base as the organization continues its remarkable trajectory of growth.