Digital transformation of Skarbiec TFI: A self-service investment platform customized to meet modern needs
Skarbiec TFI
How Skarbiec TFI created a flexible and independent platform to meet the expectations of digital investors and ensure long-term growth
Skarbiec TFI, one of Poland’s most seasoned investment fund companies, has long held a leading position in the industry, managing assets valued at approximately PLN 5 billion. Like most independent Investment Fund Companies in the country, Skarbiec TFI traditionally relies on third-party distributors, particularly banks, to market its funds.
However, with a rapidly expanding client base – over 80,000 individual investors and 1,500 institutions – and ambitions to diversify its portfolio with new financial products, the company faces increasing pressure to adapt. Growing tensions between banks and independent Investment Fund Companies have further underscored the need for a direct connection with digital investors. In response, Skarbiec TFI has committed to a comprehensive digital transformation, positioning itself to better meet the evolving demands of its clients.
Client
Skarbiec TFI
Old paradigms hindering development
A significant obstacle on this path was the prevailing operational model in Poland, where transfer agents – such as FinTeco Proserwis for Skarbiec TFI and most independent Investment Fund Companies – managed the entirety of technological operations for these firms. The solutions provided by transfer agents adhered to a traditional "system of record" framework, which prioritized products over customers. In practical terms, this approach meant that the infrastructure was designed primarily to ensure accurate transaction recording and compliance with regulatory requirements, rather than fostering a customer-centric experience.
While transfer agents did provide basic self-service portals for clients, these were essentially extensions of the underlying transaction system. As a result, they fell short of delivering the modern, intuitive customer experience (CX) that contemporary investors increasingly demand.
Consequently, to keep pace with digital transformation and remain competitive in the rapidly evolving investment landscape, Skarbiec TFI made the strategic decision to develop its own advanced technology platform – one that is designed to place the customer at the center, offering a seamless, fully self-service investment experience.
Key goals of the transition
Skarbiec TFI set three main goals during the digital transition, which became the foundation for the project:
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"Partnering with e-point on the Skarbiec24 project has been a game-changer for our digital transformation. The cutting-edge platform not only helps us manage investments more efficiently but also meets the expectations of younger investors who want intuitive tools to manage their assets independently. Catering to this group’s needs is now essential for building long-term success".
Digital onboarding and registration
The platform enables users to complete a quick and secure registration process, seamlessly integrated with myID, allowing identity verification without the need to visit a branch.
Flexible technology, agile execution
A pivotal element of the Skarbiec24 project was the adoption of modern technologies and the Agile methodology, which empowered the team to adapt swiftly and effectively to evolving requirements.
An architecture based on microservices and micro front-ends
The application is designed with a clear separation between the front-end and back-end layers, connected via an internal API. The front-end, built using React.js, focuses on delivering a seamless and engaging user interface, while the back-end, powered by Spring, manages the core business logic. A micro front-end architecture allows for the reuse of visual components, making it easy to extend these elements to Skarbiec’s future digital projects. Meanwhile, the microservices architecture enables the sharing of business logic with external systems, such as mobile applications, facilitating seamless integration without the need to develop new logic from scratch.
This architectural approach greatly reduces the digital transition’s total cost of ownership (TCO) and accelerates the deployment of new innovations (Time to Innovation).
Agile execution through an iterative process
The Skarbiec24 project was executed using Agile methodology, enabling the e-point and Skarbiec TFI teams to dynamically adjust actions and solutions to evolving needs. By working in two-week sprints, the teams engaged in iterative testing and optimization, incorporating valuable feedback from users and team members at every stage. This approach ensured continuous improvement of the application, significantly accelerating the implementation process while maintaining the highest standards of quality for the final product.
The project was executed in 50 development sprints.
Integration with the Transfer Agent’s system
One of the project’s key challenges was integrating the Skarbiec24 application with the system of the Transfer Agent, FinTeco Proserwis, which serves as the fund’s technological backbone and continuously evolves to meet the demands of the digital era. Through close collaboration with the Transfer Agent’s team and guided by an Agile approach, the requirements of the Skarbiec24 application were identified incrementally during each sprint. In response, the FinTeco Proserwis team delivered the necessary services, fostering a seamless integration process. This partnership established a robust technological foundation, paving the way for Skarbiec TFI’s ongoing digital transformation.
Design First: A modern and intuitive investment experience
While the Skarbiec24 project was inherently a technological initiative, its ultimate success hinges on delivering an exceptional end-user experience. To ensure this, the initial phase focused on a comprehensive analysis of user expectations and the identification of potential barriers that might hinder the experience. This phase culminated in the development of a detailed customer journey map for investors, highlighting key moments in the investment process.
Design, UX, and UI professionals were integral to the project, providing support not only at its inception but throughout its entire duration. They collaborated closely with the technology team, fine-tuning functionalities to ensure that every stage of the development met the highest standards of usability.
End users were empowered with a platform that offers a seamless, self-service experience for managing their investments, featuring:
Digital onboarding and registration
The platform enables users to complete a quick and secure registration process, seamlessly integrated with myID, allowing identity verification without the need to visit a branch. New customers can make their first investments in open-ended investment funds, Individual Retirement Accounts, Individual Retirement Insurance Accounts, and Systematic Saving Plans.
The platform also supports verifying the bank account number through integration with Autopay, which enables a verification transfer to provide an additional layer of security.
Intuitive self-service and portfolio management
Skarbiec24 provides users with a comprehensive platform for managing their assets, including investment funds, Individual Retirement Accounts, Individual Retirement Insurance Accounts, Systematic Saving Plans, and Employee Saving Plans. The system simplifies transactions, enabling users to effortlessly purchase, convert, or redeem participation units.
Customers can also update their data, including personal information, address, tax returns and withdrawal accounts, allowing them to manage their data without contacting the customer service team.
Buying new products
The platform also functions as an in-house “store” for investors, providing opportunities to purchase a variety of investment products, including investment funds, Individual Retirement Accounts, Individual Retirement Insurance Accounts, Systematic Saving Plans, and Employee Saving Plans. This section serves a dual purpose, acting as both a marketing and communication hub. It enables customers to explore available offerings, access detailed product information, and make informed investment decisions.
After-sales and user communication
Customers can stay informed through the communication section on the homepage, which features a dynamic feed of the latest announcements and updates, ensuring they remain connected and up to date with current news.
The platform also provides contact forms, allowing users to easily submit inquiries and report issues directly to the customer service team.
Skarbiec24 as the foundation for Skarbiec TFI’s future
The newly launched Skarbiec24 project marks a significant step in Skarbiec TFI’s digital transformation. With a dedicated platform built on modern technologies and a flexible architecture, Skarbiec TFI can explore new opportunities for managing investor relations, expanding the product offering, and addressing evolving regulatory challenges.
The Skarbiec24 platform will enhance and expand the direct-to-investor (B2C) model, ultimately reinforcing the Fund’s market position and margins.
Market alliances and mergers present new opportunities for Skarbiec TFI, enabling it to offer innovative financial products to Skarbiec24 users, thereby fostering greater loyalty and monetization.
With the new platform, Skarbiec TFI is positioning itself at the forefront of digital transformation in the Investment Fund Company sector.
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