Quantaeon provides consulting services on core banking system transformation program and implementations in the US.
“I am satisfied with the progress we have made so far on our transformation journey,” said the CIO of the client group, “Our collaboration with Quantaeon has enabled us to redefined banking – With the best-in-class core banking platform supporting us, the expert team has guided us to simplify and modernize our systems enabling us to provide a better customer experience.”
Our client is a leading and widely recognized bank in the US serving individuals, enterprises and corporations. Over the years, since its launch, the client’s functions and processes were supported by complex, outdated systems impacting customer experience, cost, availability of quality information, time-to-market, ability to cross sell-up sell etc. Given the magnitude and complexity of the transformation program, the client began the journey by collaborating with Quantaeon. The client selected Quantaeon because of its deep knowledge of the banking industry coupled with its track record of supporting and managing such large-scale complex transformation.
A Guided Transformation
Working under the CIO’s leadership, Quantaeon team managed the end to end implementation program. At the outset of the engagement, Quantaeon performed a comprehensive assessment of the existing system landscape, business processes, and architecture design in close collaboration with the stakeholders to identify migration strategies and to plan a transition strategy. Quantaeon leveraged its customized Temenos Value Benchmark Program based on our field experiences of many unique challenges and the custom solution we devised to handle them. The client needed to ensure that business requirements are correctly transferred into the technical solution. Using its proven delivery methodology, Quantaeon's diverse team managed and led the requirements analysis, design and development of a full Temenos 24 solution. With a clear approach to implementation, the team eliminated complex customization by mapping business requirements onto out-of-the box Temenos T24 features and applying industry best practices. With minimal customization, the client’s goal for a seamless, integrated, digital solution was met.
Ensuring end-user satisfaction through Quality Assurance
With customer experience objectives at the forefront, the client collaborated with Quantaeon to develop a comprehensive test strategy and test plan, preparing the stakeholders for change not only in systems but also in processes. The team used their deep technology and human resource capabilities to bring leading best practices to the client, including experience from quality assurance and strong knowledge of the banking industry.
Enable Employees
A series of change management initiatives and tailored approach to training, helped groomed the workforce by aligning them with the client’s new approach to a centralized solution. With new system roles for the re-engineered processes, the Quantaeon team delivered training to all personnel across multiple departments, projects and releases by utilizing best-in-class trainers, providing documented user manuals, business procedures, reference materials, and step-by-step help for transactions.
Challenge
Our client wanted to initiate and implement a digital transformation of its existing disparate, heavily customized, legacy system with a robust, scalable core banking system.
Results
By enabling the transition to a robust Temenos core banking solution, we propelled IT system and process efficiency, system performance, and deliver customer satisfaction.