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State Street Bank Team Augmentation

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Portfolio

State Street Bank Team Augmentation

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Portfolio

State Street Bank Team Augmentation

State Street Bank — Product Team Augmentation for Cloud Migration

State Street Bank —

Product Team Augmentation for Cloud Migration

Industry: Financial Services / Capital Markets

Services: Modernization & Сloud Migration of the Charles River Investment Management Solution (IMS)

Engagement Type: Product Team Augmentation

Tech Stack: Java, .NET, React, Azure, Cloud services, MS SQL

Team: 15 senior engineers

ExergyIQ is a preferred and trusted

vendor of State Street Bank

About the client

State Street Bank needed a seasoned engineering team to accelerate the delivery and evolution of the Charles River Investment Management Solution (IMS) — a comprehensive front- and middle-office investment management platform that supports portfolio management, trading, compliance, risk, and post-trade settlement for buy-side firms.

Charles River IMS helps institutional and wealth managers, insurers, alternative investment firms, and asset owners streamline end-to-end investment operations and improve decision support.

Due to existing vendor shortcomings, delivery was delayed and risk was rising for State Street’s enterprise clients, including major global financial institutions. ExergyIQ was brought in as a strategic partner to rapidly build a senior engineering team and support the platform’s cloud-oriented modernization and delivery excellence.

Key Challenges

Lack of true product engineers

Existing vendors provided task executors rather than product-minded engineers capable of owning complex features and engaging with demanding enterprise stakeholders.

Lack of true product engineers

Existing vendors provided task executors rather than product-minded engineers capable of owning complex features and engaging with demanding enterprise stakeholders.

No European engineering footprint

State Street lacked local infrastructure and compliance setup to hire and manage a high-performance engineering team in Europe.

No European engineering footprint

State Street lacked local infrastructure and compliance setup to hire and manage a high-performance engineering team in Europe.

Delivery and modernization delays

Critical initiatives — including evolving Charles River IMS to meet evolving client needs and cloud expectations — were slow, creating risk to adoption and client satisfaction.

Lack of engineering standards and code review discipline

Business risk to strategic customer relationships

Without accelerating deliveries and ensuring product stability, there was a real risk of stagnation in product adoption or client churn for large customers relying on Charles River IMS.

Business risk to strategic customer relationships

Without accelerating deliveries and ensuring product stability, there was a real risk of stagnation in product adoption or client churn for large customers relying on Charles River IMS.

results

Reduced delivery risk

Clear acceleration of critical enhancements for Charles River IMS

Higher engineering quality

Senior engineers strengthened system stability, delivery speed, and long-term scalability

Improved hiring velocity

Senior team onboarded in weeks, not months

Compliant EU delivery

A scalable, enterprise-ready engineering hub was established

Long-term partnership

ExergyIQ became a trusted vendor of choice for complex engineering needs on Charles River IMS

WHY ExergyIQ

Rapid team buildout

High candidate acceptance

Full enterprise compliance

High-quality mobile applications

Flexible collaboration

Trusted engineering partner

KEY CONTRIBUTIONS

Platform Modernization & Cloud Engineering

The team supported modernization efforts that optimized Charles River IMS for cloud-capable delivery, leveraging Azure’s capabilities for scalability, security, and global performance. This included breaking down legacy dependencies, stabilizing new cloud services, and improving operational readiness.

Strategic Engineering Guidance

• Clarified modernization roadmap and target architectural vision

• Reduced system complexity while improving maintainability

• Enabled safer, scalable support for evolving enterprise requirements

High-Performing Engineering Delivery Team

• Designed and built features end-to-end

• Engaged directly with business and client stakeholders

• Improved quality, delivery cadence, and predictability

Contact

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