Case Study

Scandinavian pension provider

A Large Scandinavian Pension Provider Accelerates Pension Fund Management Transition with Hopp

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Our client, a large Scandinavian pension provider, offers diverse financial services such as insurance, pensions, savings, and investments to individuals and businesses. With +50 years of history, it's a trusted and innovative company known for personalized customer experiences.  It manages +25 billion for +1 million customers. 

Industry

Financial services

Headquarters

Stockholm, Sweden

Employees

About 2,500 

Over 100 Systems

integrated into a single data solution.

75% reduction

in development time, from 6 months down to 6 weeks.

One single platform

doing the job that used to take 23 separate ELT tools.

Challenge

Moving beyond custom point-to-point connections

For the last 30 years, the client has been a stalwart user of in-house developed applications to navigate the ever-evolving landscape of pension fund management. These in-house systems have been the backbone of their operations, adeptly handling many tasks ranging from client management and product offers to legislative compliance.  

Let's explore the key challenges our client wanted to overcome: 

  • Function transition complexity. Adapting the various functions (client database, product, administration, etc.) from the client's in-house applications to their new system.  
  • Managing transition decisions. Addressing the implications of the 2022 decision to shift from multiple bespoke systems to the client’s new system.
  • Harnessing the new system's benefits. Making sure that the client’s new comprehensive system is used effectively to streamline operations, enhance efficiency, and assure compliance. 
  • Risk mitigation and compliance. Ensuring a smooth transition that mitigates potential risks and ensures compliance with relevant legislation during and after the data migration. 
  • Enhancing member experience. Ensuring that the transition to the new system maintains or improves the experience for pension fund scheme members. 
  • Financial data integration. Integrating complex financial data from payroll, HR, and accounting systems with the new system to maintain accurate financial records. 

Process

Notably, users gained empowerment to assess outcomes and investigate data migration anomalies. Demonstrated with a quick POC using replicable data migration, this achieved success in under four weeks, combining execution and comprehensive reporting. Notably, the software's innovative design fosters 100% reusability while concurrently bolstering quality and efficiency, thereby reducing both time and costs. 

 Here's how Hopp significantly benefits this Scandinavian pension provider: 

  • Accomplishes tasks such as specifying inputs, outputs, and rules for product data transformation. 
  • Generates the required code and performs controlled execution of the generated code. 
  • Empowers users to assess outcomes and explore any anomalies that arise during execution. 
  • Executed the POC utilizing a straightforward dataset, replicable using Hopp software. 
  • Successfully concluded the POC and report composition within a span of less than four weeks. 

Outcome

For Hopp, this large Scandinavian pension provider is an ideal customer as they seek to move from a number of legacy product systems to a new, unified system platform. With a program that spans many business and product areas over several years, our software allows the client to progress with consistency and speed that no other solution can. 

Sune Petersen

Managing Director at Hopp

The following points highlight the key aspects and outcomes of the Proof of Concept (POC) conducted for the client's migration to their new system using Hopp. This coming multi-year endeavor will lead to significant advancements in the client's data migration process and capabilities, offering efficient solutions and substantial benefits to their operations. 

Here's a breakdown of the key points: 

  • POC led to a multi-year license request for the client's migration to their new system. 
  • The initial product data migration test started in January 2023, aiming for completion by November 2023. 
  • The client plans sequential migrations with Hopp software, capable of concurrent tracks and resource allocation. 
  • Hopp software update during migration occurred without any issues. 
  • Hopp solution accelerated the client's migration, offering agile, code-generated data transformation, reducing time and risks.  
  • The software's scalability supports future legacy system migrations. 
Reach out to us!

Are you facing the challenge of migrating complex data?

Look no further than Hopp's innovative data migration solution. 
Contact us.

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