Core banking implementation
At IDEALINVENT we have the experience to ensure a strong alignment between your business and technology environment and we offer high-end consultancy for your Core Banking Implementation. Our platform agnostic approach and proven methodologies ensure successful implementation of your core banking solution.
Our consultants cover all complexities, ensuring the core banking solution meets every current and future requirement. We have a process driven approach and partner with our clients through the entire life-cycle of the solution deployment.
Step 1: Requirements gathering
Step 2: Product parameterization
Step 3: Data conversion and migration
With our proven methodologies and expertise in relevant tools and techniques, we undertake the activity of porting the data from the legacy application to the proposed solution through extraction from sources, transformation of the data to conform to the format of the target application and subsequently loading the data. Suitable migration strategy based on product/business lines or branches or a big bang approach is devised based on the overall rollout strategy to achieve minimal reconciliation error and business disruptions.
Step 4: User Acceptance Testing (UAT) and System Integration Testing (SIT)
We work closely with the bank’s senior management, functional user groups and Information Technology team, to test and validate the functionality and performance of the proposed system. This is to ensure the solution meets the stated business objectives.
Step 5: Go live
It is our commitment to ensure that the core banking solution is successfully released and our clients have a hassle-free ‘go-live’. A phased or a Big Bang Approach is devised to ensure minimal business disruptions and inconveniences to the bank’s customers.
We have experience in implementing core banking solutions in several countries and factor in the statutory and regulatory requirements of each location.