Albin Kistler’s approach to investment analysis positions them as a trusted partner in the financial landscape. They offer clients a blend of deep industry insight, precise mathematical analysis, and a well-established history of delivering value over time.

Their analytical engine for assessing a company’s financial health incorporates both qualitative and quantitative inputs, creating a comprehensive evaluation process. Excel files capturing detailed financial metrics offer a historical perspective that extends over 20 to 25 years. The synergy of these two dimensions forms the foundation of a powerful analytical engine.

The intricate mathematical process not only standardizes the assessment but tailors it to specific industries, ensuring a customized evaluation that aligns with the nuances of each sector.

The challenge Albin Kistler faced with their existing system revolved around the outdated infrastructure of their research database.

The first version of this database was developed about 15 years ago by a small team using Microsoft Access. Over the years, it had proven beneficial for the business, prompting Albin Kistler to invest in its improvement. Yet, application proved difficult to extend. The prolonged time to market posed challenges for the company, hindering its ability to implement new features and quickly experiment with ideas.

Given that the algorithm for investment analysis was at the heart of their business model, Albin Kistler needed to find a capable partner to address the shortcomings and modernize the system so it could meet the evolving needs of the company’s core product.

They approached Modeso to rebuild the application. The primary goal was to replicate the algorithm with necessary improvements while transforming the database into a modern web platform.

Modeso didn’t only re-implement the algorithm but also completely overhauled the technology stack, creating a more adaptable, high-performing, and easily extensible solution that aligned with Albin Kistler’s vision.

Read on to learn more about the challenges we’ve encountered along the way.

We started the project with Alignment Workshops with Albin Kistler to understand their existing system and identify additional requirements for the new application. This initial phase facilitated the creation of a high-level milestone plan and laid the groundwork for more detailed requirements-gathering workshops.

Before starting an Agile development process, we recognized the need for a thorough analysis of the core algorithm, particularly concerning the enhancements to be integrated. To address this challenge, we augmented our team with additional resources, including a dedicated business analyst, to conduct in-depth discussions with subject matter experts.

We realized that working with a small, experienced user group who have been actively involved with the product for years, made an agile approach less effective. These users knew exactly what they wanted, and so we needed to implement the main functionality of the system first before the users could test the platform.

We used a waterfall model to implement the core algorithm and shifted back to a more flexible agile approach for the user interface and additional features. In this agile phase, we consistently created and integrated new chunks of functionality, gathered user feedback, and iteratively refined our work.

From the previous version of the application, we inherited comprehensive documentation outlining the algorithm. We rewrote the documentation in our own words to create a common understanding among all the stakeholders.

Our efforts to understand the mathematical methods employed in algorithm development allowed us to support the subject matter experts on the client side in enhancing the algorithm.

Albin Kistler employs a private cloud, using an infrastructure provided by an independent cloud service dedicated to the Swiss financial market. This provider customizes the environment to meet the specific requirements of banks and asset management companies, ensuring tailored and secure solutions.

Despite facing initial challenges in adapting to the CI/CD pipelines and infrastructure configuration of the private infrastructure hoster, which was a novel environment for our DevOps team, we effectively resolved these issues. Over time, the integration and infrastructure provisioning seamlessly aligned with our goals.

Our development process wasn’t just about meeting technical goals; it was about making sure the solution fits what Albin Kistler needed.

Throughout development, we conducted user acceptance testing (UAT) to ensure that the developed features met our client’s expectations.

Here is how it worked. We first did some regression testing right after finishing a milestone to make sure everything worked well. Then, we got the client involved in UAT. We gave them release notes and testing instructions and asked them to try out the new features. This was our way to get valuable feedback and ensure everything was working like they expected. After the stakeholders shared their feedback, we fixed any issues they found and deployed the solution, ensuring its accessibility to users in their day-to-day tasks.

After a soft launch in mid-October 2023, Albin Kistler conducted final checks, and the next crucial step was planning the data migration from the old platform to the new one. This involved moving a substantial dataset. The challenge arose from changes in the input files. The new format differed greatly from that of the old application.

We worked out a way to upload the old files, and our system made sure everything was in order. This approach ensured not only the migration of data but also a significant improvement in data quality.

Our Modeso team has transitioned into a maintenance phase, actively supporting Albin Kistler in operating the application in their daily business. Simultaneously, we are gearing up for the next milestone, with substantial development phases planned for the upcoming year.

A key focus shortly is the seamless integration of Albin Kistler's platform with Microsoft 365 and connecting their document storage system.

We also explore numerous ideas for further enhancements, ranging from UI improvements to additional functionalities. One significant milestone on our agenda is the implementation of rule-based simulations. Albin Kistler intends to implement the ability to simulate scenarios by tweaking input parameters and observing the corresponding output under varied conditions.

The overarching goal is to evolve the platform into a powerful self-service business intelligence solution. This involves using tools such as Power BI or Tableau to allow analysts within the company to create personalized dashboards and extract valuable insights from the data.