Quantaeon provides consulting and systems integration services to a leading bank in Nigeria.
“It did not take long for us to realize that Quantaeon was instrumental in steering our transformation with the best in class consulting, design thinking and agility,” said the CIO of the client group.
Our client is a leading bank in the Nigeria that aimed to do away with the cost and complexities of an on-premise core banking solution and move to the cloud by on boarding Temenos SaaS offering. The traditional core banking application would not support new technologies to create innovative offerings. With Temenos T24 Transact, deployed in the Temenos Cloud, the client was confident that a cloud-first platform would meet its many requirements – scalability, inter-operability and openness through open API. Due to the lack of the right skills, knowledge and IT resources in its core banking team - to help the bank deliver business value and enhance customer experience - it selected Quantaeon to provide consulting, training (to retain, re-skill & up-skill existing employees) and systems integration services.
The Design Principal
Quantaeon with its experience in major transformation projects understood that simply transforming and becoming digital-first isn’t enough. To harness digital technology to accelerate growth, the business models and processes needed to orient with the organization's goals. Thus, Quantaeon began by assessing the customer’s existing processes, operations, business model etc. and conducted thorough due diligence to identify the critical to quality outputs. Quantaeon established a team with deep knowledge in Temenos as well as the banking industry, strategy, digital, technology and operations. With years of experience of running such complex projects, governance structure and procedures were put in place by Quantaeon professionals to support the business users during the transition.
Simplify to transform
Quantaeon identified the need to simplify the core banking processes and standardize the operations. Core processes were identified and prioritized for technology adoption as well as those that needed improvement. Leveraging the power of Temenos front-to-back banking products, built on modern cloud-native, cloud-agnostic and API-first technology, Quantaeon helped the banks go live with the most functionally rich and technologically advanced front-to-back SaaS digital banking. Quantaeon's team also enabled the bank to adopt agile and DevOps methodologies to realize continuous improvement to meet customer demands.
Enable Employees
Quantaeon prepared the workforce for the digital transformation through a series of training – empowering them with skills and experience.
Challenge
Burdened by legacy, on-premise core banking systems, that accounts for about 80% of IT budget, the bank wanted a solution that would enable it to deliver banking services from the cloud as well as focusing on growth and innovation.
Results
By adopting the Temenos core banking solution on cloud, the client was able to launch its first mobile experience for its retail customer.