PROJECT SUMMARY

Core banking system migration

Belgian retail direct bank

Migrating a Belgian retail savings and investments direct bank to the latest available version of the Thaler NG core banking system (3.1), while removing historic customizations as much as possible (stick to the standard). A new account opening process (AOP), secure site (B2C) and back-office system (B2O) were implemented and updated processes and work instructions have been embedded.

Challenge

  • Multiple stakeholder interests
  • New system
  • Stick to the standard
  • A “noiseless” transition for customers

Approach

  • Definition and follow-up of overall project plan: timing, budget, scope and quality
  • Management of issues, risks and interdependencies
  • Organizing resourcing and procurement
  • Ensuring integration of new legal and regulatory requirements (e.g. MIFIDII, FATCA/CRS)
  • Coordination of Architecture definition and System Security Risk Management measures
  • Steering 5 project/test/change managers:
    Core Banking: define specifications and solutions, handle change request, follow-up Thaler developments, define and test migration weekend runbook, coordinate Operational Acceptance/Production Acceptance/Performance Testing and Dry Runs
    Front-End: ensure development and acceptance of AOP, B2C, marketing database, client campaign management system, call centre system and client document management system
    Testing: plan and manage System Integration Testing, Functional Acceptance Testing, User Acceptance Testing, Regression/Business Verification Testing and Security Testing (ethical hackers) and ensure timely bug fixing in function of agreed priorities
    Change Management: define and implement logical access control framework and segregation of duties, update of work instructions and processes, training and communication
    Service Management: embed new deployment/support procedures and update SLA’s
  • Reporting to Project Board and Steering Committee

Impact

  • Successful migration with very limited after care

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Belgian retail direct bank

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