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Quantrix Success Story

Fortune 100 Bank Selects Quantrix

A major division of a Fortune 100 financial services institution has implemented a web-accessible analytics and modeling application based on Quantrix technology.  The Bank’s application was designed to support analysts with much more accurate and dynamic financial projections for the merchant banking line of business.  The projections are critical to the business, as they drive investment decisions by senior management and are included in reports to investors.  The application was developed with the Quantrix Development Kit, a toolkit from Quantrix which enables institutions to rapidly build customized modeling and analytics applications.  The Bank was able to leverage the usability, flexibility and scalability of “off-the-shelf” Quantrix technology while developing a targeted solution that specifically addresses key challenges and needs. 

A History of Quantrix in the Bank

The Bank has been a Quantrix customer since 2005.  The Bank’s real estate fund group, now part of the merchant banking line of business, sought an alternative to spreadsheets for modeling real estate portfolios. The previous spreadsheet-based process included modeling cash flows by investment and by investor, with a waterfall distribution of income calculation and net asset value calculation.  The portfolio comprised an unwieldy set of twenty five spreadsheets with eight million formulas.  The spreadsheet files themselves were approximately twenty megabytes each.  The system was increasingly complex, inflexible and fragile, with even minor changes and updates requiring hours and even days of effort.  Running the models was also time-consuming – often requiring overnight runs to complete the millions of calculations. 

After researching various options, they selected Quantrix Modeler because of the superior flexibility, productivity, error reduction, and ease of maintenance that it offered.  They achieved impressive results.  For example, the group was able to take the eight million formulas in twenty five spreadsheets and re-engineer into a single Quantrix model with 500 formulas.  Additionally, they were able to scale from a one year annual planning model to a three year quarterly planning model.  

The Business Drivers

The Bank wanted to design and implement a solution that would enable broader access to the capabilities and workflows they had become accustomed to with Quantrix.  As such, the technology group was tasked with addressing the control, accessibility and scalability issues associated with desktop software.  They accomplished this by developing a thin-client, server-side application based on QDK.  A key part of the value proposition was that the business and technology sides of the group would be able to leverage their respective core competencies.  Business analysts would benefit from being able to use and maintain their models while programmers in IT were able to focus on infrastructure, data management, and developing custom plug-ins. 

The director had considered options such as Oracle Essbase™, but preferred the business-user friendliness, control and transparency offered by Quantrix.  According to the director, “what sold us on Quantrix was the granularity offered through QDK.  The design of the business logic is in the hands of the business users, while with other applications, the developers would have to code the logic.  With QDK, it also enabled us to mimic many of the key functionalities offered on the desktop but provided the convenient access of a web browser”.

The Future of the Quantrix at the Bank

The solution has been rolled out for the real estate investment group with very positive results.  The director states, “Based on early successes, the Bank plans to deploy for private equity and infrastructure next year”.  He also states, “QDK can be a nice fit for additional areas within the bank that perform modeling using Excel but want a thin-client environment”.   
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