Genesis Trading partners with Intelliware Development to expand and accelerate feature development for their Prime Brokerage platform.
Genesis Trading is a New York-based digital asset industry pioneer and leader in the digital currency prime brokerage business, providing members with a single point of access for digital asset markets. In 2013, they launched their first US over-the-counter (OTC) bitcoin trading desk, and since then have grown to facilitate billions of monthly digital currency trades, loans, and transactions.
Genesis’s all-in-one platform, Genesis Prime, is an end-to-end solution for sophisticated market participants. Genesis Prime provides a fully integrated platform that supports trade execution, borrowing, lending and custody of digital assets. The platform also supports client onboarding and provides reporting tools across product lines.
Like many firms looking to accelerate product development, Genesis saw tremendous benefit in finding a proven development partner to assist, in tandem with staffing their engineering team, with further scaling Genesis Prime, to ensure that it could continue to serve members in the fast-growing cryptocurrency market. Genesis was looking for UI and full-stack development capability to help build new functionality for Genesis Prime and analyze and improve user interface response times and transaction efficiency. They also needed a partner with deep experience in the financial services space that could help improve their development process and software engineering practices within a highly regulated ecosystem.
Genesis selected Toronto-based Intelliware as a partner for their deep technical expertise and 31-year track record of delivering robust enterprise solutions for financial services clients. Intelliware’s proven software engineering capability, Agile approach to delivery and leadership also contributed to the decision. Genesis and Intelliware established a co-team partnership based on trust and collaboration that proved successful and effective for both parties.
Intelliware worked with Genesis to create a standardized process for adopting Agile practices that consisted of:
- Co-Teaming– By co-teaming directly with both business representatives and development teams, Intelliware provided training and mentorship to support the adoption of Agile development practices.
- Coaching – As Genesis began to think and work in a more Agile way, Intelliware team members provided coaching to support the adoption of Agile practices in more strategic areas such as planning, prioritization, delivery of completed functionality and release management.
Working closely with Genesis’s front-end and back-end development teams, Intelliware team members helped define and deliver new trading and multiple-account features for the Genesis Prime application. The Genesis development teams benefitted from knowledge transfer and hands-on experience using Agile development practices to develop and deliver new features effectively.
“The partnership with Intelliware was instantaneous. We required a development partner to contribute from day one, and Intelliware delivered. The biggest impact of the Intelliware engagement has been the acceleration of delivery; Intelliware are specialists in this field and area of development.” – David Weinberger, Head of Product, Genesis Trading
Initially, Genesis engaged Intelliware for front-end development, with a focus on user interface performance enhancements. The Intelliware team optimized and refactored the Genesis Prime Dashboard to achieve a 60% performance improvement and a 65% decrease in load time. This success resulted in the engagement expanding into other technical development areas, including building new features for Genesis Prime, technical process improvements, and enterprise process tooling.
New Genesis Prime Dashboard Features
Intelliware co-teamed with Genesis to expand the existing Genesis Prime Dashboard, including the addition of:
- Multiple-Account Support – This functionality adds the ability for institutional clients to access multiple subaccounts via a single set of credentials.
- OTC Trading Page UI Redesign – Improved performance and responsiveness on UI components to give high prominence to most used functionality.
Technical Process and Tooling Improvements
In addition to helping develop new features for Genesis Prime, the Intelliware team used its extensive development expertise to collaborate with the Genesis team to:
- Refactor and optimize the Genesis Prime application to improve performance
- Update and refactor the code base to improve its structure
- Provide recommendations on security best practices
The Genesis and Intelliware teams continue to work closely on further performance enhancements over time.
The Genesis development teams have benefitted significantly from the Agile development and engineering practices they learned while working with Intelliware. They were then able to leverage what they learned to deliver new application features and enhancements—while at the same time gaining valuable hands-on experience. The chances of transitioning to a new way of working becoming a permanent transformation are greatly enhanced when theoretical learning is reinforced with actual practical experience. Co-teaming supports this change by providing teams new to Agile with opportunities to apply their knowledge together with seasoned professionals. The right partnership adds substantial value beyond product delivery.
“Genesis required a strategic partner with technical experience in the financial services market. The Intelliware team provided a cross-functional delivery model consisting of engineering best practices, expertise and leadership that helped them achieve this in record time.” – Keith Shiner, Vice President, Delivery, Intelliware Development.
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