Invesco cuts development time by 92% with API-led integration

Challenge

Enabling an API-led connectivity approach to eliminate siloed data globally

Invesco is a prominent global asset management firm responsible for managing $1.5 trillion in assets on behalf of clients worldwide. Invesco faced challenges internally because of the 200+ siloed IT systems which were keeping business users from being able to quickly access valuable customer and market data. Additionally, the lack of data access impeded the development process at Invesco — teams had little transparency into other team's work or projects currently in development, causing inefficient and repetitive processes.

Objectives

Accelerating the speed of integration to drive faster global expansion and grow customer base

Invesco needed to enable data sharing between multiple business units and 1,700 tech employees worldwide. By adopting an API-led approach they were able to integrate core backend systems and data by:

• Empowering sales reps, service agents, and marketing teams to access a 360-degree view of customers and prospects view by unlocking siloed systems.
• Speeding up global expansion efforts by making it easier to connect disparate systems inherited during acquisitions.
• Delivering a world-class personalized experience by creating accessible data for marketing teams to create campaigns to shift to a digital first relationship with customers.

Solution

Centralizing data access for continued innovation

Invesco deployed Anypoint Platform to eliminate inefficiencies and duplicative work, improve data access, and deliver consistent, global customer experiences faster. Anypoint API Manager allows Invesco to catalog APIs, to promote reuse among development teams, saving even more time and effort. In addition, Anypoint Studio enabled Invesco to centralize the language, increase reuse, and streamline processes.

Invesco established a Center for Enablement (C4E), a central incubation team to evangelize APIs the business can self-serve to deliver technology initiatives faster. Today, the C4E serves more than 35 product teams and over 89 APIs are available. The C4E model has helped business units deliver their own products faster with quantifiable ROI, for example with a central marketplace for APIs the product teams have been reusing pre-existing APIs to complete projects faster.

These product capabilities have helped Invesco deliver on Invesco’s business goals to deliver a world-class experience by helping connect backend systems to stakeholders so they could deliver a connected experience faster. Marketing teams now have access to a 360-degree view of the customer so they can pin-point client needs and personalize direct marketing campaigns to ensure greater relevancy. Moreover, sales reps now receive access to prospective customer inquiries 40% faster than before implementing MuleSoft – driving a better experience for prospective customers

“Centralized data accessibility-enabled by APIs-empowers Invesco to deliver innovative experiences faster, solidifying their place and future as a leading asset management firm in a consolidating industry”

Jay Broadfoot,
Global Head of Engineering, Invesco

Results

Transforming the digital experience

Using an API-led approach, Invesco strengthened its position as a leading asset management firm. Streamlined development and centralization of data resulted in greater innovation and an improved customer experience.

"MuleSoft helped reduce our development hours by 92%, Integration projects that used to take months now take only a few weeks, so we have more time to innovate.”

Christine Tran,
Senior Software Engineering Manager

With the shift to the API-led connectivity model, Invesco integrated 44+ disparate systems by building 89+ APIs in just 12 months. Stakeholders now have global access to customer data to ensure a more personalized customer experience. They have also seen streamlined system integrations during acquisitions which has aided in the expansion into new markets such as China and India.

With API-led integrations now in place, Invesco hopes to continue to leverage technology-enabled distribution and invest in digital platforms to help the business and enhance the customer experience.