As one of the largest venture capitalist firms in Europe, Octopus Ventures is always seeking new ways to automate their business with the latest technologies. Octopus Ventures has worked with some of the most significant corporations in the world, and their client base of entrepreneurs stretches across multiple countries.
Working with such a large company always requires a certain level of expertise and accuracy in our approach, and when Octopus Ventures came to us, we knew that we needed to fully understand their problem so we could deliver the best business automation solution to them.
Octopus Ventures came to us in need of a new web app that would allow them to verify the citizenship of their global investors. This requirement stems from the eminent effect of the latest version of Markets in Financial Instruments Directive (MiFID II) in January 2018.
The original version of MiFID was meant to revolutionize the financial markets in the EU to have the depth and dynamism of the U.S. While it succeeded in many regards, a more modern implementation, MiFID II, will provide investors with more protection along with more transparency among all asset classes.
Along with significant changes to the regulatory requirements of the EU financial markets, MiFID II also requires the disclosure of investors’ citizenship.
The Development Process
Our first step was to evaluate and collect all of the pertinent data from our client. With data in-hand, we worked for over a month to study it, and create a detailed development plan for the project. Our client was very particular about the function of the database and API, so we went through several weeks of back and forth testing to ensure that it was working as they had envisioned.
We uploaded several versions of the API to a test site for the client, and they uploaded many real examples of the data they would be tracking and monitoring.
Once we had the approval from Octopus Ventures, we could then get to work integrating the database into the UI. Our leading Python specialists worked with the front-end developer to design and integrate a smooth UI while the client added the API on demand.
Throughout this project, we utilized the latest in computer programing tools such as Google App Engine, Python, Rest API, and Tornado.
The End Result
We were able to produce a fully functional application, and Octopus Ventures was incredibly happy with the result. They provided us with data to show that they were having great success with the app, and it was verifying each investor’s citizenship as intended.
With the app, our client's processes of collecting and collating data were simplified, allowing them to focus on their more important goals in their organization. They are now able to accept, organize, and modify data all from within the web app which saves them time and money.
Is your business in need of automation tools to improve efficiency? Contact us today and let’s discuss your problems and the solutions that we can bring you.