Octopus. MIFID

Developing an application that helps company's managers and investors monitor all the necessary documents. The software was meant to provide the ability to save and modify the data of other users through defined special permissions.

Industry FinTech

Duration: 1920 hours

Team: 8

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Technologies utilized

.NET, ASP.NET, UNIT.NET,
AZURE Function, SQL Azure

Team composition

1 Team lead
1 Tech lead
1 Solution architect
1 Project manager
2 back-end developers
1 Manual QA specialist
1 Automation QA specialist

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CLIENT

Octopus Ventures is one of Europe’s largest Venture Capital teams. Head-quartered in London and New York, with venture partners in San Francisco, Singapore, and China, they help entrepreneurs scale globally. The company’s amount of investments vary from £1m for seed to around £4m for series A. In recent years, it has ranged from £350k to £25m.

Challenge

Due to regulatory changes in the market under the Financial Instruments Directive (known as "MiFID II"), the EU has adopted a law on the increase of competition and consumer protection within investment services. It has been done by introducing the new requirements on product governance and independent investment advice.

As the instructions contained in MiFID are valid for states in the European Union, we faced with the task of considering these requirements during the app's development process.

Features

Requirements

Before addressing the solution, we analyzed all the business requirements. In this process, the client decided to increase the scope with a bit of change control.

Regulations

Modifications to legislative acts regarding the consumer protection within investment services made their adjustments.

Testing

After our rigorous testing and the client's acceptance testing, the product was signed off and developed successfully.

Business values

Accountability & Simplicity

A well-developed application has drastically simplified the process of collating relevant documents about the staff. It has provided a client with the functional ability to accept, store, compare, and modify data more efficiently while saving time and effort for managers and investors.

Olga Tuchina CBDO

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