Client Situation
Our client is a leading bank in Mongolia offering services across retail and corporate banking. The bank operates across 86 branches and has an asset size of around USD 500 million. The bank was in the process of finalising the selection of a new core banking systems and wanted a revalidation exercise to be conducted based on the bank requirements.
Cedar’s Approach
The bank mandated Cedar to review its current architecture and assist in the finalisation of business requirements for the implementation of the new core banking as per global best practices and develop.
- Reviewed the business strategy of the bank and its implications.
- Reviewed the current application architecture of the bank and performed a fitment analysis across 30+ application.
- Developed a functional blueprint for the application in the bank.
- Conducted a review of the applications in the bank landscape, including decisions if the application should be retained, replaced, or evaluated.
- Validated and enhanced the core banking requirements.
- Performed a gap analysis based on the business requirements 1000+.
- Prioritised the requirements as per the business strategy.
- Reviewed the integration touchpoints.
- Assisted the bank in a scope of work review.
Outcome
The program resulted in a successful finalisation of the supplier. The results included
- Identified other potential application for evaluation and upgrade.
- Developed a comprehensive business requirement specification document of 1000+ requirements across Assets, Liabilities, Trade Finance, Payments, General Ledger, Operations and other modules required.
- Classified the requirements as out of the box, configuration, customisation and identified gaps for development.
- Prioritised these gaps based on the business requirements.
- Developed a detailed integration assessment and solutioning for the integrations across the 30+ applications.
- Conducted a complete IT infrastructure optimisation study to consolidate infrastructure.
- We made strategy and innovation work.