EasyEquities needed to make sense of the data of its 1.4 million clients with multiple account types. It required data aggregation and data integration components for all its systems, in order to track client’s current lifecycle, trading and investment activities.
What’s more, EE was trying to increase client engagement on its platform and needed a solution that would help them gain an understanding of their customer community and determine trends in the community’s investment portfolio.
EE has partnered with Synatic to create data aggregation and data integration solutions for all the systems in use. This includes investment platforms, CRMs, customer support management, emailing etc. The EasyEquities platform is a first in their market, focusing on fractional shareholding which in turn creates the accessibility for the “man on the street” to access more expensive, sometimes unaffordable, shares. The power of Synatic allowed EasyEquities to aggregate seven trading platforms, overlay this data with the fractional share trading data, and utilize this data both for driving the front end of the platform, and for integration to surrounding solutions such as HubSpot.
Further, the insights gathered from this aggregation of multiple solutions is then used to personalize customer interactions and increase engagement with the EE platform. Tristan Finnemore, Purple Group VP of Digital Assets, says, “The challenge was to aggregate all our data and present it in a meaningful format to understand what is happening with each of our clients individually as well as a group. Our goal was to give the same level of customer experience to all our clients, regardless of the investment size,” he explains.
“We had to improve our systems to better communicate and improve our customer experience. The initial integration was exceptionally complex. Synatic began by integrating data from several disparate trading platforms and overlaying that data with another database that holds fractional share information, and then pushing that data into various third-party tools like Service desk, Hubspot, PowerBI and Freshworks. The problem was that they weren’t integrated, and we couldn’t get full use of these tools without full integration to our solution,” he says.
Finnemore says the first project was to integrate these disparate systems into the core EasyEquities solution stack. “It was a once-a-day integration. The Synatic solution would have access to all our databases once a day where the solution would aggregate data and push it into HubSpot. This would allow the marketing team and automation systems to know the exact activity on each client, and build workflows around the current client activity, and what they are doing within their portfolio.”
With this data Synatic was able to compile reports on client engagement with the EE platform. The data would be used to prepare statistics that were analyzed and contrasted against the community’s activity. By doing this EE was able to gain valuable insights and adjust its marketing and interactive approach with each individual client to improve their engagement with the platform.
Synatic then grew as EasyEquities grew, and brought to EasyEquities the ability to rapidly aggregate data with real time Kafka data feeds. This live data could then be dynamically used for both publishing to APIs and integrating to further solutions.
Synatic developed similar integration for Freshworks for service automation by integrating data. Instead of increasing the help desk support staff, it now has service bots as a frontline support structure. Through this integration, Easy Equities can solve frontline support through the APIs, and can now service clients without human intervention, improving customer satisfaction solutions.
EasyEquities is exploring the concept of using Gamification as a means to increase customer engagement with the platform. By rewarding clients for completing milestone-based task, EE can boost their interest in, and knowledge of investment products and services, as well as make the entire experience enjoyable. What’s more, EE can gather valuable client-specific data. Synatic is able to consolidate and prepare all this data and push that data into HubSpot where it can be consumed and used by Easy Equites as needed.
Synatic’ Hybrid Integration Platform (HIP) gave EasyEquities the ability to manage all their data preparation, movement, and storage challenges. This included ETL, integration, API management, and data lake capabilities through a single platform, allowing the company to get the right data to the right person at the right time.
Synatic stores all the data from all the previous integration in the HIP’s Data Lake. This data lake is continually refreshed through Kafka triggers. This means that all their client data such as client FICA data, client profile information, client investment portfolios, stock data, and more, is stored inside Synatic’s built-in data lake. Having this kind of centralized and real-time data repository establishes a solid foundation from which future integrations and projects can be built.
Data that is not stored within Synatic’s data lake would have to be calculated each month in their various databases, which is an extremely labor intensive process. Using Synatic’s HIP these calculations can be completed in a matter of seconds.
EasyEquities is dedicated to continuously making improvements to its platform and sometimes this can mean replacing or adding elements to its existing solution over time. Synatic is designed to implement integrations that help to reduce the risk that is often inherent in multi--system integration Synatic has allowed EE to iteratively and nimbly make changes to their solutions as and when needed, without the fear of experiencing a domino effect if problems do occur. Instead, when one component is changed, Synatic manages the building of solutions in a development environment, test in QA, and migrates the solution to a live environment, thus minimizing risk.
By working with Synatic, EasyEquities was able to solve its integration challenges and integrate a substantial number of systems and data with incredible speed and accuracy. Through Synatic’s HIP EE was able to take back control of its data by overcoming the complexities of disparate data sources.
"Synatic prepares immense amounts of data that is presented on the EasyEquities app. The ability to integrate data between multiple disparate systems and continuously innovate without any major setbacks is fundamental to Easy Equity’s growth and development," Tristan Finnemore / VP of Digital Assets / Purple Group.