Core Banking System Selection & Design

Background

A global bank’s business in a southeast Asian country envisioned replacing its core banking system to enable realization of its 5-year strategic goals and objectives. The existing system suffers from a host of issues --- e.g. data integrity; inflexible infrastructure which has reached capacity limits; system that is ineffective in meeting current business functions and processes, etc.

Methodology

Arete followed a process of first creating the Business Architecture Design.

The next step involved Business Process Re-engineering in which the key processes were first identified and then prioritized keeping in mind the vision and strategy of the client and for maximum organizational impact.

Once the IT Platform requirements were identified, Arete helped the client in Platform Selection which involved short-listing potential Vendors, creating the RFI and the RFP.

Upon confirmation of the vendor, Arete helped guide the bank in putting in place a core banking project governance structure; validation of requirements against standard out-of-the-box functionalities, rationalization of customizations and execution / delivery plans.