We offer the following technology consulting and software services –
- Selection of Core Banking System (CBS)
- This would entail studying how the bank services its customers, how its internal processes are designed, how it interfaces with external parties and the bank’s reporting. Reporting would include operational, management and regulatory reporting.
- The target business model of the bank is designed and then used as base for system evaluation.
- The system evaluation process is a multi-stage detailed process
Program Management for Core Banking System Implementation
- A detailed Request for Proposal (RFP) would be prepared and sent to all concerned vendors of banking products. The RFP would contain detailed functional and technical requirements. Based on the RFP responses, vendors would be shortlisted.
- The shortlisted vendors would do detailed product demos
- Reference checks would be done for the shortlisted products
- The final shortlist would be prepared based on product fitment, customer reference checks and vendor track record.
- This would be followed by commercial negotiations. At this stage, care has to be taken to include all relevant modules and channels and also future requirements so that there is no cost escalation later.
Building Ancillary Systems
- The implementation project of CBS is a major exercise and needs to be managed well. Though the CBS vendor would be implementing the system, it is a joint project and the bank is equally responsible for the success of the project.
- The bank’s responsibility includes proper configuration of parameters in the CBS based on the bank’s requirements, redesign of bank’s processes, user acceptance testing and user training.
- There is a proper project plan needed for this program. There needs to be strict monitoring to identify progress, bottlenecks and removing them.
Reporting and Data Analytics
- There are certain areas which are not covered effectively by any CBS. Hence there is a needs for building ancillary systems. These are needed for loan workflows, bancassurance, payments workflows, etc. We can build these for the bank based on the bank’s requirements and process flow.
- We can streamline complete reporting to make it easy to generate and use operational, management and regulatory reports.
- We can also look at the bank’s data and use it for improving customer retention, measuring and improving customer profitability, reducing risk, etc.