GIC wins Technology Excellence Award for Enterprise Software - Financial Services

A first-of-its-kind solution in the market that supports mid-to-back office operations across the whole spectrum of private market investments including real estate, private equity and infrastructure investments.

ATLAS is a platform that supports all mid-to-back office private market operations over the investment life cycle. It is a first-of-its-kind solution that leverages cloud technology, a data analytics search engine platform, and event-driven and API-centric architecture to meet the varied and complex requirements of supporting private market operations in an effective, efficient, and scalable manner.

ATLAS was developed in-house and implemented amidst the challenging backdrop of the COVID-19 pandemic. It replaced two legacy platforms: one for real estate investment, and another for private equity and infrastructure investments. Both had different operational processes and data models, resulting in operational complexity and additional overheads.

ATLAS addressed GIC’s needs in two key areas: 

Scalability, by providing teams with the capability to support increased business volume through the standardisation and industrialisation of private market operational processes; and
Agility, by enabling teams to be quicker in supporting new and changing business needs given the rapidly evolving investment landscape. 

In addition, its simplified and modular design resulted in a lower run cost compared to the firm’s previous legacy platforms.

Consolidated view across private markets and improved data quality. To build ATLAS, the team had to standardise existing data models and key terms across the private markets, as well as harmonise and onboard over 30 years of data to fit into a new model. Combined with the incorporation of upfront UI data validations, which improved the accuracy of data capture, this enabled consistent reporting and improved data quality at the enterprise level, while also enhancing the use of data analytics to derive investment insights across GIC’s private markets portfolio.

Increased productivity. Mid-to-back office private market teams experienced productivity gains by as much as 20% due to process streamlining and standardisation, the automation of manual processes, and the systematisation of data validation checks. Using ATLAS, teams will be able to execute processes more efficiently, and subsequently, increase focus on more high value and complex work. 

Enhanced user experience and system performance. ATLAS features a simple and intuitive user interface including a single view dashboard, easy access to priority to-do items, and status tracking. The platform’s intuitiveness made user adoption more seamless, which was vital in scaling GIC’s operational capacity as they onboarded new hires during the pandemic. ATLAS’s new IT architecture also enabled a faster screen load (3-5 seconds) and processing time across all global offices, further enhancing both user experience and productivity. 

For its efforts to consolidate all private market operational processes across real estate, private equity, and infrastructure investments into a single platform, GIC was presented the Enterprise Software - Financial Services Award at the recently concluded Technology Excellence Awards, hosted by Singapore Business Review. In its fourth year, the awards event lauds companies in Singapore that have pioneered ground-breaking IT products, solutions or initiatives that are leading the technological revolution and digital journeys of their respective industries.
 

Watch the interview below to know more about their winning project: