Genghis Capital modernized its technology in 2017. It wanted to offer clients world-class investment services and, at the same time, create an exciting and satisfying working environment for its people. VMware Workspace ONE™ provides a digital workplace for internal business operations and a digital platform technology channel for clients. And, thanks to that modernization, the bank is continuing to thrive through the pandemic.
The COVID-19 pandemic has spelled disaster for many businesses. Staff have been confined to the safety of their homes. They can’t access vital systems. They can’t serve clients. For Kenyan investment bank Genghis Capital, the story is very different. Staff continue to work. Customers continue to be served. The business continues to grow.
And it’s all down to the technology transformation the investment bank underwent back in 2017, a transformation that saw it become the first investment bank in Kenya to be 100 percent based in the cloud. The project saw the bank transition from a successful VMware on-premises environment to VMware services in the cloud, based on VMware Workspace ONE.
Closing the door on office working
Established in 2008, Genghis Capital provides innovative and client-focused investment solutions to customers around the globe. Its services include stock brokerage, corporate finance, investment research, and asset management.
The investment bank understands the importance of offering clients world-class investment services and providing a comfortable working environment for its people. The 2017 transformation saw it adopt VMware Workspace ONE and transition staff from Regular Desktops Infrastructure (RDI) to Virtual Desktops Infrastructure (VDI) on Google Chromebooks. Applications were virtualized so staff could progressively work remotely outside the office, with VMware Horizon® Client providing single-sign-on authorization.
In 2019, it rolled out a mobile app, based on Workspace ONE technology. Thanks to the app, clients can engage with Genghis Capital from their mobile device without having to visit or call one of its offices.
A seamless transition
When the pandemic hit, Genghis Capital immediately saw the value of its investments in Workspace ONE. Already familiar with working remotely, isolating staff quickly transitioned to working from home. From there, they continue to be highly productive. The VDI in Workspace ONE allows them to log in remotely with secure access to view their environment, serve clients, serve other departments with dependencies, and onboard new clients. Meetings can take place using digital collaborative tools, and staff are able to transact or advise clients on any information required to complete a process.
The managed VDI eliminates downtime too. Support can respond to any issues in minutes without needing staff to bring their machines to the office. More than that, they can also make new services or applications available in just a few seconds – all through the VMware platform.
Clients are benefiting from the VMware technology. They love the mobile app. They can use it to digitally onboard, move funds, trade, and chat for advice or clarification, all from the comfort and safety of their homes. In fact, Genghis Capital has seen an incredible spike in revenue from its mobile apps aligned with a surge in clients signing up to use it since the start of the pandemic.
And with competitors struggling to serve their clients during these unprecedented times, being able to continue its high levels of service has helped Genghis Capital expand its client base. Clients are jumping ship from investment banks unable to serve their needs and joining the company that has empowered both its workforce and its clients.
Transforming investment banking
For Genghis Capital, there is no looking back. With a future-ready workforce able to serve clients no matter what, it is now looking at how its VMware technology can help drive a more sustainable future. The bank is exploring how Workspace ONE can enable virtual annual general meetings for its clients and virtual board meetings for executives. The VMware technology may soon also provide a platform for virtual contracts, eliminating the need for printed paperwork – for a leaner, greener future.