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Case Study

Technology Transformation & Process Documentation

Summary

For a London-based bank going through a change in control, Satori engaged directly with C-suite executives (CEO, COO, CIO) in the framing and execution of a technology transformation program.  Working with heads of function we defined future-state business requirements that were captured in a Request For Proposal (RFP) document, and shortlisted vendors were then invited to participate in a competitive tendering process.  Satori managed all aspects of the RFP process including the assessment of vendor responses. In addition, Satori documented all “as is” business processes within the bank with a view to enabling business process redesign along with the implementation of new technology.

Situation

Our client, the London-based subsidiary of a large African bank was being acquired by a large UK business conglomerate to exploit opportunities arising from providing Trade Finance services to the conglomerate companies and their clients. Years of under investment in the UK subsidiary meant that the existing technology platforms were not fit-for-purpose and also posed significant operational, cybersecurity, and business continuity risks to the bank.  A complete technology refresh was seen as a key component of an overall Business Transformation program. Objectives of the technology refresh included: i) modular/phased approach to facilitate migration and implementation; ii) the leveraging of Cloud, FinTech and Managed Services to support an agile business culture; and iii) to include options for any new business areas the bank may wish to move into.

 

Satori Solution

We engaged directly with C-suite executives (CEO, COO, CIO) in the framing and execution of the program.  Within the context of a future-state vision for the business, Heads of Function (e.g. Finance, Treasury, Sales, Operations, Trade Finance, Risk Management, Regulatory Reporting, Compliance) were engaged in defining future-state business requirements that were captured in a Business Requirements Document (BRD). Potential technology vendors were assessed against defined pre-qualification criteria and a short-list was generated.  The Business Requirements were then translated into a Request For Proposal (RFP) document, and shortlisted vendors were then issued with the RFP and invited to participate in a competitive tendering process.  Satori managed all aspects of the RFP process including the assessment of vendor responses.  In addition, Satori documented all “as is” business processes within the bank with a view to enabling business process redesign along with the implementation of new technology.

Results

By the time the bank was ready to effect its “change in control” it was in a position finalize on its chosen new technology vendor. By taking a holistic approach to establishing a new business vision and a new technology strategy in parallel with requirements definition, it enabled the bank to expedite its technology refresh program.

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