How Deloitte can help with Core Banking Transformation
The path to a banking transformation is a challenging undertaking that starts immediately, well in advance of any solution development.
We understand that implementing a new core system is one of the most challenging initiatives a bank can undertake. It requires bold decisions and rigorous program implementation to achieve sustainable business and technology transformation. But only through core systems transformation can banks achieve the necessary break-through to operate efficiently and compete effectively. That’s where Deloitte can help. Let us help you position your program for success, no matter where you are in your journey.
See the detailed diagram.
Treat the business case as a living document.
- A business case is not just a hurdle to be overcome. It is s living document that drives behavior.
- It provides traceability from beginning to end and helps align program decisions with overall business goals.
Choose the right methodology. Use only one methodology.
- The challenge with methodologies is that everyone has one (or more than one).
- Alignment to the right “package-led” approach with a common lexicon is essential.
The scope must be owned by the business and defined by the business benefits.
- Scope is rarely in one document or easily digestible. The lack of clear scope is the most common root cause of failure.
- Scope change management starts with the business and creates a climate that encourages good behavior, not bad.
The requirements must be written for the business by the business, not the technologists.
- Requirements are often written in “techno-speak” and distributed across multiple design documents.
- “Visualize” key concepts that bring high business value or are highly complex.
Implementing a new core system is one of the most challenging initiatives a bank can undertake.
It requires momentum!
That’s where Deloitte can help.
Build on your momentum.