Robocoder Corporation: Powering Financial Applications to Last

CIO VendorNelson Lin, President
As the world economy becomes more tightly integrated, new technology and access to new markets has propelled cross-border capital flows to unprecedented heights. In this scenario whilst it has become important for capital markets firms to achieve high performance via increased margin and expanded market shares, the introduction of new financial products are increasingly reliant on how fast IT can react to them.

“Today, the key to success for financial firms is in having a technology that can embrace late changes, and be upgraded on the fly, without breaking integrity,” opines Nelson Lin, President of Robocoder Corporation. To embrace these rapid changes, capital market firms need to undergo cumbersome procedures such as redesigning their technology architecture, adopting new approaches to data governance and analytics in addition to focusing on the smooth integration and transition of legacy systems. Robocoder Corporation has found an interesting solution to this: Rintagi, which builds high performance and reliable B2B, B2C, and P2P business applications in a time and cost effective manner, with very low maintenance.

Rintagi finds its best of the breed applications in sectors like capital market, where companies cannot afford to wait months for upgrading their enterprise systems in-line with new technology. Take the case of Securcor Financial Group for example. When Brain Rodd of Securcor Financial Group first used Robocoder’s Rintagi Securitization Master—an application built for the financial markets—he was facing a difficult situation: a high growth plan and limited labor resources. Only a handful of chartered accountants understand securitization and they are hard to find, let alone afford. “Using our solution, Securcor was able to process large volume of transactions without hiring additional resources,” exclaims Lin. “The benefits included deal closures in weeks rather than months, and legal document preparations in minutes rather than days.” In Rodd’s words, “we were constantly amazed at the flexibility of the software. The small changes that would traditionally take weeks of programming time could be done almost on the fly, and real time with Robocoder.” Not only Securcor was able to secure immediate ROI from their IT investments, now they have a very intelligent system that has accumulated their collective intelligence for over ten years and are reaping the benefits of Rintagi platform.

The securitization software is scalable to the extent that companies can justify costs instantly by the time saved, regardless of volume

The B2B Structured Finance Solution, Rintagi Securitization Master is an enterprise business process management system designed for issuer, funder, or servicer/broker, to independently securitize their own deals, or all of them together. The securitization master enables sellers to submit their loans and leases to Robocoder’s clients electronically. “Our clients slice and dice it on our solution to come up with their desirable package of portfolio at a price that involves sophisticated collateralization,” expounds Lin. “All warehousing, tranche selection, due-diligence, cash-flow management and reporting are taken care of; template-based autonomous legal documents are produced to improve accuracy and efficiency; all being processed by the end-to-end solution.” The securitization software is scalable to the extent that companies can justify costs instantly by the time saved, regardless of volume. Financial Institutions can benefit from the securitization master over cloud as well as on-premise installations.

Rejuvenating Applications with
Just a Click
Upgrading legacy systems in the capital market means spending millions, in turn adversely affecting the profitability of IT investments. Whether it’s building a custom app, replacing existing spreadsheets with a centralized online database, or rewriting legacy systems, Rintagi can achieve that in days and weeks instead of months. In addition, Rintagi provides ability to rejuvenate these applications with just a push of a button. Rintagi has the ability to transform its database applications to a modern user experience running on the latest technology and architecture, without affecting the underlying business rules and functionality. “The way this system is built is based on the fact that every small change will cause the entire module with hundreds of thousands of lines of codes being regenerated from scratch,” explicates Lin. “Since it is building from scratch, late change is essentially the same as early changes. Late change should be embraced, not avoided!” This unique aspect presents a strong argument when it comes to using off-the-shelf systems that cannot be easily upgraded versus Rintagi generated application which is fully customizable on the fly as per the contemporary needs of the organization.
BYOD and Native Apps

Robocoder has gone a step further in ensuring security of data over running applications on mobile devices such as smartphone and tablets. With the world going mobile, the demand for flexibility of applications over mobile devices is increasingly growing. Gartner dubs it as “the cool factor” and its studies suggest that by 2016, use of mobile apps will surpass that of internet domain names, making mobile apps the dominant means of engaging with brands. Software solution providers are consistently working towards producing applications that might work as a native app, irrespective of the devices it is running on. With capital market gradationally adopting a cloud computing model on a global operating basis, there is a growing concern on security as user experience is becoming more and more dominant, especially on the web and via tablets and smartphones. “One of our clients was so concerned about vulnerability that they hired a security company to conduct a series of penetration tests on our cloud server,” explains Lin. Aside from standard encryption, as part of access control, Robocoder addresses the apprehensions of financial companies by IP Allow List, customizable password complexity and expiry, CAPTCHA, allowable login attempts, and successful versus unsuccessful login audit trails. Once the authentication is done, role based access is granted to users based on organization, responsibility and business rules. “These security controls have enabled us to deliver applications that are not only multi-tenant, but also connecting their customers and vendors to share valuable data online and real time for effective and efficient communications,” adds Lin. “In addition, with the exception of authorized developers, all our data entry screens are protected from script injection attack.”

Rintagi has the ability to transform its database applications to a modern user experience running on the latest technology and architecture, without affecting the underlying business rules and functionality

Another important aspect of Rintagi and its generated applications is that there is a separation of business rules from the architecture and user interface. “Rintagi structures itself according to the device it is running on so that when our clients look at it they don’t even know that they are running a webapp,” says Lin. “We have taken full advantage of the latest HTML5 and CSS3 capabilities on mobile and tablet to make the same app that runs well on a desktop or laptop to run it like a native app on these devices.” Pacific & Western Bank used Rintagi five years ago to customize a securitization system at the heart of their enterprise application. It is a fully automated, from cradle to grave system that one can operate and manage their securitization business at their fingertips. Moe Danis, Senior Vice President of Structured and Corporate Finance, Pacific & Western Bank exclaimed “the automation process is a monumental task achieved by Robocoder in a very time effective manner. Robocoder’s team was able to grasp the concepts and translate sometimes inarticulate descriptive requests to output.”

Robocoder has taken Securcor Financial Group’s and Pacific & Western Bank’s enterprise mission-critical applications to a new level by revamping them to include all new technologies such that there is ease in running application on mobile and tablets.

Apart from addressing mobile needs of its clients, the next move for Robocoder is to go open source. By doing so, Robocoder aspires to harness collective intelligence of the IT community and let the world take advantage of Rintagi to develop next generation of capital market software or any other industry solution. Robocoder is open to suggestions and enhancements and in turn will play the role of gatekeeper to ensure the quality of the enhanced product and incorporate it in the future versions of Rintagi. “I highly advice anyone and everyone to use Rintagi to keep their solutions, whether home grown or off-the-shelf, forever young,” opines Lin.

Robocoder Corporation

British Columbia, Canada

Nelson Lin, President

Robocoder Corporation is a global provider of easy-to-use and intuitive B2B, B2C, and P2P applications and platforms, including a DIY code generation platform that lasts