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Core Banking Transformation

Core Banking Transformation”, is one of the riskiest and most challenging programs any Bank will ever embark on. It requires an organisation-wide commitment and mind-set shift to transform many aspects of your business, including your Business architecture, Processes, People and Culture, Data and Technology.
Throughout the program life cycle, different skills-sets and expertise will be required. It is imperative to understand what the journey will look like: the critical success factors, the pitfalls to avoid, key objectives and most importantly, how success will be measured. Core banking transformation touches every part of your organisation and will require a long term commitment from executive leadership & sponsorship, willingness to make tough decisions, breakdown of organisational silos, transformation of the organisational culture and the endurance of a marathon team.    

The Deloitte Value Proposition

Based on our extensive experience with Core banking Transformation Programs, we have two distinct value propositions that are tailored to our clients’ specific needs:

Core Banking Transformation Program:

We assist our clients through the life cycle of this journey, starting with the definition of your transformation strategy, through to the measurement of the benefits.

Our phased approach:

  1. Initiate
  2. Assess
  3. Plan
  4. Execute
  5. Sustain

Core components of our value proposition:

  1. RMO: Integrated Results Management Office and Communications; program governance and Assurance
  2. Strategy: Strategy and Business case development; requirements and operating model design, process design
  3. Technology and Operations: solution delivery, integration, architecture, infrastructure design, data governance and migrations, testing
  4. People: Change management, stakeholder alignment, training
  5. Risk and Controls: Regulatory compliance, security and controls

Realising the Return on your Core Banking Investment: 

Most core banking programs face significant overruns from a cost and time perspectives. In many instances, the quality is compromised by reductions in scope, compromises are made by the Business, Functionality is not optimally deployed…to try and meet the committed timelines.  In order to help clients realise the benefit of the investment, we have a unique value proposition that is focused on the SUSTAIN phase of the program - with the ultimate objective to optimise the ROI and realise the true potential of the Core Banking Investment made.

Our key focus areas to achieve synergies and maximise efficiencies:

  1. People transformation and embedding the change
  2. Process re-engineering and optimisation
  3. Technology and architecture refinement
  4. Core Banking and Business Strategy alignment  
  5. Knowledge asset management, with a focus on extracting valuable insights from DATA

Why Deloitte

Deloitte is the biggest consulting practice globally and we have access to subject matter experts in every domain.

Our Global Core Banking Practice has partnered with major Banks across the globe on their transformation journeys. We have access to core banking experts from our practices in Canada, the UK, the USA, Europe, Australia and Africa. Our Core Banking methodology and supporting toolsets have been refined based on a number of successful implementations and have proven to reduce risk and contribute to successful transformation programs.

Our multi-disciplinary team have deep and broad Banking expertise, ranging from Business and IT strategy formulation, Investment case building and measurement, RFP development, vendor selections, integrated project and program management expertise, process re-engineering, deep knowledge about the various technology platforms and transformation skills. We strongly believe in a partnership model, rather than a pure consulting approach, where we share the risk with our clients, whilst enabling our clients to take full ownership of the core banking solution post project implementation phase.

In short: we have a proven track record, global core banking expertise, a sound methodology with supporting toolsets and we are willing to share the risk with our clients.

Key Contacts

Dirk Kotze
: +27 (0)83 263 6762

Marinda Sheahan
: +27 (076) 075 5790

Edward Aucamp
: +27 (0)82 336 6961

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