QUALIFYING ACTIVITIES INCLUDE:
● Personalised Products rather than the one-size-fits-all off-the-shelf products.
Software development claims do not need to involve the creation of a
completely new software system that has been developed from first principles.
Instead, it invariably involves taking an ‘off-the-shelf’ product, being the closest
match to their requirements, developing this further and integrating the result
into a wider systems architecture.
● Automation powered by A.I. for faster claim-processing and execution.
● Advanced Analytics & Proactivity: this will enhance availability, protection and
integrity of data, whatever platform it is being used on and wherever it is
required.ghout your projects. You can be sure that together we will drive your business development in the right direction.
● Blockchain: gigantic amounts of customer data is routinely processed and this development provides much greater security from end to end when it comes to claims, underwriting, identity
management and protection against fraud.
● Personalised and customised services
● On-demand and mobile usage. An ‘All-in-one’ access point (for example, an app)
● Where legacy platforms cannot be simply ‘turned-off’! companies are forced to integrate these systems with the latest development, often where no standard integration protocols exist-Integration of legacy systems
● New data processing techniques, covering collection, cleansing, manipulation and analysis; distribution and retrieval of price and company fundamental data; defining or working with new or emerging data models and metadata standards; integration with third party content.
● Development of trading algorithms, proprietary analystics and financial models.
● Simulation environments
● Risk control systems
● Bringing systems onto a common platform without disrupting functionality
● Security/communication protocols
● Fraud detection and prevention systems
● Data encryption
● Development of internal systems/tools for mid and back-office activities
● Development of transparent and interrogatable systems for reporting purposes
● Development of systems to integrate seamlessly with third party systems
● Data provision and cleansing systems
● Spreadsheet auditing technology for many layered and dynamic managerial spread sheet systems
● Financial databases collating and interpreting underlying streamed data sources
● Algorithm development for investment strategy, portfolio management and
execution with minimal slippage
● Call centres and network backbone infrastructures
● “Hub and Spoke” topology, middleware architecture developed with the creation of a Global Wholesale Mark-Up Language, based on XML
● Imaging and data processing methods involving storage, reception, transmission, capture, manipulation, authorisation and access
● Wholesale Data Warehouse (WDW) with a web channel for customer access to support a diverse range of reporting
● Machine learning techniques for market prediction
● Hardware development
● developing new smart algorithms;
● embedding AI or robo-advice in the investment process;
● improving a trading platform by adding new features (even for ‘traditional’ asset classes);
● creating new products or asset allocation methodologies.
● Development related to compliance with regulatory requirements in the United Kingdom and other countries, for example Solvency II, Basel III and many others, can also qualify. In many
● development of sophisticated capabilities in customer relationship management
and risk management.
For financial companies (including banks):
● Enterprise applications implementation (ERP systems)
● Data warehousing techniques introducing, including next generation enterprise service-bus middleware architecture for business intelligence (ESB)
● Automation of business processes
● E-Business initiatives providing new ways to access legacy systems (internet banking, faster payments implementation)
● Software development related to compliance with global, European and local regulatory requirements (Solvency II, Mifid, Basel, FATCA)
● Software development intended to leverage CRM, involving predictive analytics for fraud detection and customer lifetime management
● Significant advances in calculation engines, artificial intelligence, predictive modeling, complex algorithms and statistical analysis
For insurance organisations:
● Development and implementation of general insurance systems, policy administration, risk modelling and calculation, quotes generation
For investment management companies :
● Development and implementation of risk engines, portfolio valuation, assets management systems, risk management systems, market data processing systems, quantitative analysis