In a conversation with DQ Channels Ranga Reddy, CEO – Maveric Systems shares its go-to-market strategy and its’ solutions help IT organizations and people.
- What is your Go-To-Market strategy?
Maveric subscribes to a customer intimacy model wherein we are committed to multi-level engagement with chosen clients led by insight and impact.
Our guiding principles are:-
- Client-focussed delivery organization for our priority and key customers.
- Collaborate with the customer through insight-led engagements and contextualised solutions that not only address their current needs but also predict future needs
- Create exceptional impact through proactive step changes (differentiated change in delivery approved by customer) that drive value as well as induce a culture of innovation along every step of the way
- New logo acquisition through product partnerships in digital, data, and core banking space.
- Develop and equip ourselves in line with these needs, and even make investments accordingly in technology and talent.
- How Maveric’s solutions help IT organizations/people?
- Maveric helps global banking and fintech leaders drive business agility through effective integration of development, operations and quality engineering initiatives. Maveric has strong banking domain competency combined with expertise in legacy and new age technology landscapes and offers offer Product Implementation, Integration and Quality Engineering services across Digital platforms, Banking solutions and Regulatory systems.
- To enable customers to succeed in the digital landscape, Maveric provides a wide spectrum of services including digital development, rapid prototyping, platform implementation, conversion optimization and business orchestration. Our services aim at driving efficiencies and adapting processes to dynamic and ever-changing digital application requirements, delivering the most innovative digital products, and enabling implementation of pioneering online/customer portals & platforms. Our services enable banks to integrate with external customer engagement landscape, and orchestrate them through multiple channels.
- On the core transformation front, we offer end-to-end services across the T24 landscape, right from implementation and upgrades to maintenance and support initiatives. The T24 roll-out services include development and maintenance of T-24 implementations, Greenfield implementations, as well as upgrades. T24 support services include management of roll-out services, performance management, IT Operations or DevOps including Business Continuity Planning, support for L1 & L2 operations as well as advisory on multiple T-24 components including special modules such as analytics, risk & compliance, and financial crime.
- Maveric’s data & regulatory services include regulation focused product implementation as well as data transformation for compliance. Our data management offerings address 2 angles – one to make data compliant with security regulations so that it is available in a ready state for use by internal or external stakeholders; and the second, to make it ready for decision making. Our data services cover a wide range of data-related challenges including data migration – storage related migration as well as ETL (database migration), customized database virtualization based on client needs and requirements, as well as data management comprising of test data management, synthetic data creation, data masking and cleansing.
- Today, the definition of quality has undergone a change and is no longer a validation process that is relegated to the end of the SDLC. With customer experience driving businesses above all else, to excel, quality goes hand-in-hand with development. Maveric understands that in the current technology environment, development and QA cannot exist in the exclusive silos they have been operating in so far. Hence, our services too have now taken the shape of Quality Engineering, where quality is embedded across all stages of SDLC to ensure business velocity.
- The four pillars of QE transformation include institutionalization of 4 distinct disciplines, with defined competencies, processes, and tools, namely Requirements QE, Dev QE, Lean QE, and Run QE, which are supported through CI/CD orchestration, integration coverage across application stacks, interfaces, data, and configuration management, as well as models for predictive analysis. Requirement QE aids decision making through comprehensive business and engineering requirements, Dev QE aims to improve quality of code with a focus towards re-factor as per need, Lean QE concentrates on exploratory testing and user journey acceptance, and finally Run QE that monitors system changes and resultant impact and enables constant fine-tuning.
- Maveric’s focus on offering niche services and not expansion through scale. Creation of services through detailed stakeholder mapping and insight-led stakeholder engagement in existing and potential areas where clients can be served better. This is followed by insight-led solutions to high priority customer problems/challenges. Execution of an intimacy-led delivery model that not only meets promises but improves and adds value to services, quarter-on-quarter. The value addition is accomplished through radical “step-changes” in delivery with pre-determined benefits.
- What are the recent developments at the company?
- Expanding the board to include 2 non-executive directors to put in place right guidance measures to enable growth.
- Digital and Core Banking practices established and on the verge of establishing Data services
- Expansion of Bangalore office by adding another 300 associates by September 2018.
- Increase in overall headcount by another 500 in the upcoming FY 2018-19.
- What is your strategy for the year 2018?
- The plan for 2018 is to strengthen delivery infrastructure and localization in Bengaluru, Mexico, Poland, Dallas, Singapore. This year will also see Maveric strengthening commitment to the set path by investing in talent, both at the directorial level for guidance and strategy, as well as at the senior and middle level to enhance competencies in Data, Digital, Core Banking, and QE.
- What was Maveric’s experience in leading the digital transformation journeys of global BFSI companies?
Digital transformation to a number of our clients is equated to “doing something faster and different”. With this, they start embracing Agile as a new way of working and get immersed in it.
Enabling a successful digital transformation is dependent on expertise in other areas of banking. Maveric has extensive experience in omnichannel transformation, AML-KYC transformation, core transformation, and payments. The areas where Maveric makes a difference with our domain and technology expertise are as follows:-
- Insight-led Impact–Maveric’s engagement model is based on establishing deep connects across customer organization across multiple levels. This multi-level stakeholder engagement enables us to get deep insights that are much wider in scope and very comprehensive in nature. Also, this deep-dive into client insights is conducted often and constantly so as to enable step-changes, and glean not only current requirements of the customer, but predict future needs as well.
- Contextual Solutions – We get a clearly articulated “What” and “Why” of the transformation that the organisation is aiming for. This combined with Maveric’sextensive core banking transformation experience enables the entire team to identify hurdles, solve the problems, incorporate feedback, try out different things and learn from failures.
- Breaking silos with Business, Technology and Operation teams – The three units generally in most of the banks will be based out of different locations and communicate requirements in document form. Prioritization is generally based on who shouts the loudest. We have enabled realignment into product-centric teams that blended business, engineering and operations to enable the organization to deliver a first-to-market product.
- Adaptive Leadership on People, Process and Tools – Teams out here are empowered to think creatively to solve real customer needs, support learning, encourage experimentation, and fast feedback. This adaptive way of tooling strategy means letting go of command and control leadership styles. Every team is different, an empowered team manage the ingredients and interplay all the time.
- Accompanying these is a bi-modal approach that focusses on transforming the legacy back-end into a core system that can evolve with the changing customer needs and technology landscape while co-existing with an intuitive user experience focused front end.