How Adaptavist helped transform BetaNXT's technology architecture to pave the way for future growth and innovation.
Discover how Adaptavist helped BetaNXT reduce its tooling by 67% and optimise its technology operations with Atlassian, AWS, and GitLab.
Requirements at a glance
- Successful track record in delivering complex, time-critical transformations.
- Comprehensive tooling audit, analysis, and recommendations.
- Creation of a scalable, standardised, and common architecture.
- Business-wide governance across processes and tools.
- Centre of excellence for product lifecycle management and continuous improvement.
- Expert advice on tooling and approaches, combined with practical hands-on support.
Industry: Wealth management/Fintech
Solution: Atlassian Jira and Confluence, GitLab Ultimate, and Amazon Web Services
Total employees: 1,000+
Clients: Financial brokers, advisors, and investors
Summary
Wealth management has evolved significantly over the past few decades, shaped by technological advances and rising client expectations. However, the proliferation of new tools across the sector has resulted in a complex and fragmented client landscape.
BetaNXT aims to change this by providing its clients with a more holistic and future-focused wealth management experience. To achieve this, they partnered with Adaptavist and embarked on a journey to consolidate, standardise, and optimise tooling across their business. The result? BetaNXT's new state-of-the-art technology architecture has transformed how it operates and delivers value to clients.
Our new architecture opens up so many new opportunities for our business and clients. We can now integrate other companies we acquire smoothly and develop new products and services quickly and efficiently. As a result, we can deliver a far superior experience to our clients while also paving the way for future growth and innovation.
Paul Simonetti
Information Technology, Executive Management, BetaNXT
The challenge
BetaNXT—born from Clearlake Capital and Motive Partners' acquisition of the BETA+ Wealthtech platform from the London Stock Exchange Group (LSEG)—is focused on setting a new standard for wealth management.
Entering the wealth management scene in 2022, BetaNXT was no ordinary newcomer. Comprised of three businesses—Beta, Maxit, and Mediant—it inherited a strong reputation and loyal client base. Yet, as a new brand, it also enjoyed the freedom and flexibility to do things differently.
However, integrating three established businesses with their own processes, workflows, and tools presented several challenges for BetaNXT. It was clear that the company needed to standardise its technology environment to ensure consistency and strengthen governance. Not only would this move help streamline client data, but it would also reduce costs and provide a solid and scalable foundation for future growth.
Our goal was to provide clients with the same great experience across all of our services—standardising our tools, approach, and architecture was crucial to achieving this.
Frank Merla
Enterprise Solutions Architect, BetaNXT
Greater visibility for better decision-making
For BetaNXT, improving visibility into their technology portfolio was another key driver for transformation. Gaining this insight would help the company align product and technology initiatives with business strategy execution, and enable their C-level leaders to make more informed acquisition and divestment decisions.
Frank explains, 'To answer strategic questions like "How can we deliver more value to our clients?" and "What direction should our business take in the future?" we needed a clear understanding of our technology landscape.’
Adaptavist and BetaNXT: the transformation journey begins
BetaNXT chose to partner with Adaptavist for this crucial transformation project due to our extensive experience in digital transformation, particularly in key areas such as ITSM, work management, and DevOps. As well as our proven ability to work with technologies such as Atlassian and Amazon Web Services (AWS).
'Every transformational journey, but especially one as significant as tooling, requires a partner you can trust who will always put your interests first. With Adaptavist, you have that and much more,' says Paul.
The solution
Migration to a new target state
First and foremost, BetaNXT had to transition off the LSEG infrastructure and tooling to terminate transitional service agreements (TSAs). Time was especially critical in this part of the engagement, as any delay could have a significant financial impact.
Tool audit and consolidation
Tool audit and consolidation
In the course of the migration, Adaptavist evaluated BetaNXT's tools portfolio with the goal of providing recommendations to optimise and consolidate its software delivery capability.
Future-focused centre of excellence
Future-focused centre of excellence
Parallel to the wider technology consolidation work, Adaptavist supported Frank and his team in developing a centre of excellence to drive governance, efficiency, and quality across BetaNXT's Product Development Lifecycle (PDLC).
Migration to a new target state
First and foremost, BetaNXT had to transition off the LSEG infrastructure and tooling to terminate transitional service agreements (TSAs). Time was especially critical in this part of the engagement, as any delay could have a significant financial impact.
Tool audit and consolidation
In the course of the migration, Adaptavist evaluated BetaNXT's tools portfolio with the goal of providing recommendations to optimise and consolidate its software delivery capability.
Future-focused centre of excellence
Parallel to the wider technology consolidation work, Adaptavist supported Frank and his team in developing a centre of excellence to drive governance, efficiency, and quality across BetaNXT's Product Development Lifecycle (PDLC).
The partnership
BetaNXT and Adaptavist's collaborative and trusting partnership was crucial to their success throughout the project.
‘Like any transformation, it involves a huge change to how you do business, which can be daunting at times. But when challenges arose, we always came together as one team and solved them together,’ says Nelson Jordan, Global Account Strategic Architect, Adaptavist.
For Paul, the most important thing was having confidence that Adaptavist would always be flexible to adapt to BetaNXT's needs: ‘A highlight of the partnership for me was how accommodating Adaptavist was to work with. The team was always ready to collaborate and work to solve any challenge, always putting our priorities first'.
Adaptavist is a great partner to work with. They bring vast technical expertise, always tempered with realism, honesty, and pragmatism. It was refreshing to work with a team who gave me straight answers when something wasn't going to work and then guided me to find the right solution.
Frank Merla
Enterprise Solutions Architect, BetaNXT
The results
As a result of the project, BetaNXT has realised many benefits across the business, including:
- 67% reduction in tools—cutting costs and complexity.
- Creation of a common technology architecture for:
- Tracking and reporting on customer demand.
- Strengthening organisational collaboration.
- Streamlining acquisition onboarding.
- Adapting product portfolios to meet market demand.
New efficiencies and synergies
The biggest success for BetaNXT was driving standardisation across the company, leading to new efficiencies and synergies.
Reduced cost and complexity
Reduced cost and complexity
BetaNXT has now consolidated multiple tools into just a few essentials, reducing licence costs and the complexity and burden of managing multiple systems and applications.
Growth and innovation opportunities
Growth and innovation opportunities
Moving to a standardised architecture and establishing a centre of excellence encourages teams across BetaNXT to explore new possibilities to innovate and drive improvements.
Improved client trust and confidence
Improved client trust and confidence
Modernising its architecture has increased client interest and confidence in BetaNXT's ability to innovate and deliver.
Accurate forecasting and planning
Accurate forecasting and planning
BetaNXT has now been able to remove much of the manual intervention that was prevalent before, meaning they can now get accurate delivery times.
Playbook for future acquisitions
Playbook for future acquisitions
BetaNXT now operates on industry-standard technology, so if it acquires new businesses in the future, the integration will be much smoother, thanks to a common framework for tools and processes.
New efficiencies and synergies
The biggest success for BetaNXT was driving standardisation across the company, leading to new efficiencies and synergies.
Reduced cost and complexity
BetaNXT has now consolidated multiple tools into just a few essentials, reducing licence costs and the complexity and burden of managing multiple systems and applications.
Growth and innovation opportunities
Moving to a standardised architecture and establishing a centre of excellence encourages teams across BetaNXT to explore new possibilities to innovate and drive improvements.
Improved client trust and confidence
Modernising its architecture has increased client interest and confidence in BetaNXT's ability to innovate and deliver.
Accurate forecasting and planning
BetaNXT has now been able to remove much of the manual intervention that was prevalent before, meaning they can now get accurate delivery times.
Playbook for future acquisitions
BetaNXT now operates on industry-standard technology, so if it acquires new businesses in the future, the integration will be much smoother, thanks to a common framework for tools and processes.
The future
Through this project, BetaNXT has seen a transformation that is making waves within and beyond its walls. As BetaNXT continues to deliver on its vision for connected wealth, this critical transformation point enables its teams to envision, pilot, and introduce new ways to enhance the experience of its clients—investors and wealth advisors.
As Frank remarks, ‘It's been an incredible journey of transformation; we've gained recognition right up to the C-suite, to the point where we are now considered an invaluable part of the business. All of the things we had hoped to do are now part of a comprehensive roadmap of work, which our leaders are delighted about.’
So what's next?
As Paul puts it, ‘We're thrilled with the results. With our new architecture, we can change the game for our business and clients. In many ways, our transformation journey is just getting started. We've laid the groundwork for future growth, with many exciting plans now on the horizon.’
In today's world, delivering an exceptional experience to clients relies on having a robust, flexible, and scalable technology foundation in place. With Adaptavist's help, we have built a cloud-first architecture grounded in best practices and governance that delivers a fast, reliable, and secure wealth management experience that will continue to drive our vision of connected wealth. As we look beyond the horizon and start to embed technologies like AI across our business, we can quickly provision new products with a clear understanding of their value and robust policies to ensure successful outcomes for BetaNXT, but most importantly, our clients.
Don Henderson
Chief Technology Officer, BetaNXT.
Deep dive into the solutions
Read more in-depth articles about the BetaNXT transformation by Adpatavist.
How Adaptavist helped BetaNXT improve delivery efficiency with GitLab Ultimate
Discover how Adaptavist helped BetaNXT standardise its tooling, optimise its technical delivery, and enhance its security with GitLab Ultimate.
How Adaptavist helped BetaNXT increase operational performance, agility, and security with AWS
Discover how Adaptavist helped accelerate BetaNXT's cloud-first strategy —leveraging Amazon Web Services (AWS) to modernise and streamline its operations.
Q&A with our client BetaNXT: How our partnership led to key enterprise outcomes
We dived deeper into BetaNXT's transformation journey and spoke with Paul Simonetti, IT Executive Management, and Frank Merla, Enterprise Solutions Architect at BetaNXT.
About BetaNXT
BetaNXT powers the future of connected wealth management infrastructure solutions, leveraging real-time data capabilities to enhance the wealth advisor experience. Combining industry expertise with the power of its proven Beta, Maxit, and Mediant businesses, it is focused on solving customers' most demanding integration challenges with flexible, efficient, connected solutions that anticipate their changing needs. Its comprehensive approach reduces enterprise costs, streamlines operations processes, increases advisor productivity, and enhances investor experiences.
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