Am I alone in thinking that? They are already moving CS which is a big portion of the process. What is keeping them from moving everything back? They are obviously not happy with the work that is done by FIS. I can't even imagine how bad the cooperation between FT CS and FIS Operations/Support will be.
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FT was a client of SunGard (the original system provider/owner) which FIS acquired, years ago. They were unhappy, shocker, and bought the rights to what was called AATA (now FIS TA). Renamed to FTTA, lots of system edits (to prevent errors or scenarios that should never be allowed) were not on FTTA as opposed to FIS TA. FT apparently had middleware to address some items. And some old timers who had been with SunGard were not happy with FT returning; nothing ever satisfied FT. All clients have ups and downs, but it was beyond challenging with FT. Apparently no one asked about prior interactions. Also, why did no other provider want them as a client? FIS has taken on clients that no one or few wanted. Also drastically underestimated the cost and sc--wed themselves over when not making enough per contract.
@q0 heard same: huge penalties built into the contract. No idea as to the actual amount. Where will that line item be hidden in the annual report? Now, as the takeback is occurring there is constant badgering about meeting KPIs to avoid penalties. What does it matter now? There is ZERO motivation to meet KPIs as anyone not transitioning back to Franklin Templeton will be laid off. Performance reviews with no merit increase. They have boxed themselves in to this nightmare.
@OP i know we were paying big penalties for missing SLAs. i heard millions
anyone know the number?
@ba not a tech expert. Investar was a dinosaur, but it supported FTTA and Pega. Without it, those systems cannot be used again, that is what is understood. Will the division between FT CS and FIS MOS and Ops be a problem? Oh, you betcha! There is no easy extraction from the mess that they created for themselves.
@b7 Investar being gone is actually good. It's a terrible system that belongs on Commodore. They should just get their own system again and run everything in-house. I just can't imagine how the basic communication between teams like CS and Operations will go. There will be no cooperation, only disputes. How will the two companies align on the processes they have to follow? It's going to be a mess.
@OP no doubt they want to, however, here is the problem with that: the underlying accounting system that FT used, Investar, is now gone. FT is committed to using FIS systems regardless of who goes where and when. Not in a position to know, but that might be why MOS and Ops are staying with FIS. The whole thing is FUBAR. They continue to experience almost daily system issues. It's a real nightmare.