Wealth Management
Learn how a global wealth management firm migrated to a new data center in under a week.
How A Wealth Management Firm Migrated to its New Data Center in a Week.
Even with the most relevant, high-profile cautionary tales, the challenges and risks that regulated industries face cannot be underestimated.
Nowadays, every business shares the challenge of navigating an increasingly complex landscape of threats. Whether a sophisticated cybercrime, a matter of tightening compliance, a market with growing competition, or even a troubled supply chain – leading businesses are increasingly being defined by their resilience toward risk.
With a substantial reputation in the US and with operations spread across the UK, this wealth management company has been ambitiously scaling its market territories and presence in 2022.
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time taken to migrate to a new data center.
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Provider Pains.
Where Tectrade was already hosting a similar wealth management firm as part of the Tectrade PowerCloud environment, our team was approached with the challenge of executing an effective exit from their existing data center. But this was no typical exit.
The relationship emerged between the wealth management firm and Tectrade only after a UK data center provider became troubled with financial difficulties, leaving them at risk. Within short notice, our client was given two options: either re-sign into a larger, costly agreement to retain tenancy in their existing data center, or leave.
The challenge with a typical data center migration project is the lead time, which sits anywhere between 6 -12 months for planning and completion. Longer project completion times are often associated with the complications of wiring circuits and arrangements with telecoms providers.
Time is a precious resource in any migration project. But it was also one of largest challenges that they faced. A project with these timescales can lead to undesirable downtime and disruption, delaying normal business operations.
PROJECT HIGHLIGHT:
A migration project of this scale can take up to 12 months. But Tectrade’s specialists delivered a turnaround in under a week.
Executing a Timely Migration.
Tectrade planned, procured, and moved the wealth management firm’s full DR infrastructure, moving away from the troubles with their existing provider, and securing available capacity within the new data center inside a week. Tectrade’s deep expertise and committed professionals worked around the clock to ensure project completion in record time.
Working on cabling, circuit connections, cross-connects and coordinating movers – Tectrade worked with our client to deliver a data center migration within short notice over the Easter bank holiday period. Strategically planned to align with the April long weekend, Tectrade helped the firm to take advantage of the natural downtime in the market.
Commencing on Good Friday, and aware of the four-day market closure, Tectrade’s experts mobilized all relevant equipment to the new data center that same evening. The next day – after switching over to the new data center – the firm was fully operational again, re-syncing back to its production.
Despite the speed of turnaround, there was no service degradation, downtime or disruption, especially when it comes to the experiences of their internal users, clients or the markets they operate in.
Going Beyond “Lift & Shift”
A textbook “lift and shift” with an expedited timeline, our data center migration was technically impressive, moving the firm between environments within a week. But a migration project of this scope, where a client operates tightly regulated workloads within strict compliance boundaries, has no room for error.
Routine “lifting” of IT is not without its risks. Back up failures, non-compliance with financial regulations, and strict data integrity – these are just a few of the risks involved in a migration project of this nature, especially when timescales are shortened below the project average of 12 months.
Tectrade’s experts not only helped de-risk the project, but the lift and shift was unnoticeable to the client, their customers, and the wider market.
Going beyond a traditional lift and shift, however, Tectrade’s reputation for bespoke, comprehensive service coverage ensured that technical work could be reinforced with the most relevant and beneficial professional services (including project management, liaison, and overall governance).
Managing a team of third parties, Tectrade was able to align project management with technical work to ensure effortless migration between environments.
By delivering a migration project and aligning it with relevant service coverage, Tectrade has been able to support the firm as they transitioned away from risk and moved into a more supportive IT environment.
OUR CLIENT
Our client is a large, global wealth management firm, helping wealth managers and their customers with complicated financial needs to navigate the market.
Customers range from high-net-worth investors with complex needs to, in some cases, institutions, such as pension funds.
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