Temenos Core Banking Solutions Support
Prescience along with its partners offers a comprehensive suite of services to support banks in the region leverage the best value out of their Temenos T24 core banking systems and environment.
We bring our experience in banking & technology to understand our customer's requirements in implementing the best quality and scalable solutions which is second to none.
We have experienced business and technical consultants who have years of development & implementation experience in banking technologies. Having an experienced team with in-depth understanding in the product and technology is always a great advantage to have on your side. This is one of our key strengths which helps us serve our clients better.
Temenos T24 HEALTH CHECK
Our T24 Core Banking Solution Health Check is conducted across 3 streams:
1. Business Health Check
The business health check stream defines a methodology around “People, Process and Technology” to ensure optimal coordination of these three pillars hence facilitating the implementation of the business strategy. This includes the understanding of the business strategy to better identify the needs of the organisation, assess the extent to which it meets its operational requirements and to propose and design the most appropriate solution. The methodology revolves around
Understanding the key strategic intents of the organisation:
- Identification of key business risks using the Enterprise Risk Management approach – Integrates risk management with existing management processes; identifies future events both negative and positive; evaluates effective strategies and adopts a coherent organisation wide approach to deal with strategic, operational, IT, human resource and financial risks. Risks are no longer merely hazards to be avoided but opportunities to be embraced.
- Description, identification and evaluation of the key processes of the organisation – Identifies and analyses the steps of the processes and measures their proper functioning in terms of adequacy and efficiency to control the risk of non-compliance.
- Human resources– Understands and evaluates the current organisation human resource strategy to see how it adapts to business needs. It might also be a review of the organisation structure, the resources, competencies and skills, the roles and responsibilities, and the procedures and policies in terms of recruitment and exit, performance management, talent (career plans, training and development plans etc.).
2. Project Health Check
The project health check stream analyses and evaluates the overall project structure and makes recommendations to ensure its success prior to and after roll-out. The approach adopted, includes, among others:
- Planning & Milestones: Assesses to what extent the project plan is well structured, elaborated and realistic taking into account each project phase, the duration, the resources and the milestones.
- Governance structure: Verifies if the reporting line of all the stakeholders involved in the project is appropriate (e.g. important and crucial decision-making to be done by a Steering Committee) and in line with good governance practices.
- Project Management: Evaluates the adequacy, capacity and efficiency of the current project management unit, if any, or the need of setting up one.
- The “Heartware”: Is catered through change management to ensure smooth transition with respect to the “People” aspect which is crucial to the success of a project. Change management looks after the following:
- Business: product clean-up, processes review, pricing, limits, mandates, logical access.
- Customer Centric: terms & conditions, contracts, communication strategies.
- Migration: data cleansing/enrichment, manual & automated data migration.
- Operational: forms, organisation structure, job profiles, training.
3. IT Health Check
The IT Health Check stream consists of making observations and recommendations with respect to the current and to-be core systems of an organisation and the key risks and palliatives associated to the implementation of new core systems as well as their key features, benefits and known-issues of the latest versions. Whilst having the strategy of the organization as the starting point, the following is considered during an IT Health Check:
- Systems assessment: Understands the main system in place and other peripheral systems that are connected/associated to it
- Modules: Conducts a preliminary analysis of the existing modules as well as their usage (as part of the system)
- System controls: Reviews the system embedded controls
- Logical access: Reviews the current logical access (Access level restrictions to different systems)
- Interfaces: Performs a preliminary analysis of the existing interfaces with a view to earmark the potential changes
- Hardware Strategy: Assesses the current hardware strategy and recommends possible courses of actions. This review encompasses, among others:
- Network topology
- Production set-up
- Disaster recovery
- Technical architecture
- Server configuration
Preliminary assessment objectives
Leads to an analytical report of our findings and recommendations with proposed areas of priorities that need to be addressed and an indicative time frame.
Expected benefits of a Health Check
- Coherence – Provides a coherent and external viewpoint of the current set-up containing recommendations on the ways of optimising current core systems as well as areas where new modules might benefit the business
- Tailored recommendations – Provides clear and concise recommendations with respect to core systems in light of the business strategy – for instance, whether an upgrade to a later version is warranted or some modules might need to be added or re-implemented
- Roadmap and action plans – Provides a high-level roadmap and action plans building on our hands-on experience of implementing various core systems such as T24 and Insight related projects in different markets
- Optimisation of returns – the key benefit of the health check is to ensure that the three pillars of the organisation are in-tune with a view to underpinning the business strategy notably by maximising investments and streamlining processes.