BNY Mellon
Wove
Areas of Focus
Custom Software Development
Best Practices & Methodologies
BNY Mellon is not just the oldest bank on Wall Street it’s also one of the biggest. In 2023 they released Wove, an open architecture, multi-custodial wealth management platform that connects disconnected technology and data.
The Wove platform offers new, state-of-the-art applications including apps for financial planning, portfolio construction, tax management, account management, trading and rebalancing, and reporting.
01
The Challenge
The Wove team wanted to provide advisors with a cutting-edge data and analytics platform that would enable them to effortlessly sort through performance and risk analytics, along with market insights, to gain better insights into the impact on clients.
There was also a tight deadline, with the goal being to showcase the new dashboards at BNY’s INSITE conference that was only a few months away!
02
The Solution
Artium provided a Product Manager, four Full Stack Software Engineers and a Technical Engagement Lead. We were responsible for a key part of the platform but we also ensured that we built collaboratively with the developers working on other parts of the Wove platform.
We prioritized building with quality and brought best practices around code hygiene to BNY Mellon - this was exemplified by our commitment to test overage
The Portfolio Analytics front-end codebase boasts 94% coverage and the back-end codebase sits at 90% coverage - which exceeds BNY’s 80% test coverage rule and is now viewed as the gold standard.
This led to Artium delivering a series of workshops on Test Driven Development that while not included in the initial scope or estimates were delivered as part of the engagement at no extra cost!
03
The Outcome
At the beginning of the project 14 key epics were identified - the challenge was to deliver all 14 in just nine months.
Seven months later all 14 were complete and ready for production. However, given that this was all net new greenfield build it was critically important that we avoided locking in to a roadmap on day one and then building in a waterfall way - instead we did the opposite taking a highly iterative approach that saw us release to the bank’s pre-prod environment on a weekly basis.
We also helped refine the product - at one point we discovered during ongoing user testing that one set of designs was causing confusion so we helped pivot and ensure that Wove’s data and analytics platform was both highly performant and a delight for the financial advisors to use.
”Artium helped us think through our entire customer experience - they helped build functionality quickly and provided outstanding test coverage.
“The collaboration with our team was outstanding and I continued to be impressed throughout the entire engagement from start to finish.”
- Joey Szopinski, Director of Product at Wove