Implementation of any technology application involve continuous review of the program, and its assessment to meet with the time, quality and budgets in meeting with the stated end-benefits of the program. Cedar’s assurance approach helps with the health-check review of Fintech programs, both large and small, using its proprietary RAPID framework.
Cedar’s program health-check reviews involve validation and risk assessment across 5 key dimensions, including its Resources, Application, Processes, Infrastructure, and Data. The RAPID framework also serves as the pre-validation of the program prior to making the final decision of the cutover, also serving as a critical assurance milestone, as a premature go-live of any platform can result in serious financial implications and potential customer experience issues.
Typical health-check reviews are made on a regular frequency on a monthly or quarterly basis, and at all key milestone completions of any large program, also serving as a confirmation related to any supplier payment milestone. Cedar’s proprietary C-SCORE toolkit also provides with a detailed assessment of the key risks and the mitigation alternatives.
Cedar’s experience in providing health-check assurance services is not limited to large core banking or major technology transformations, but also adopted for small to mid-size programs that are run internally by the bank, including key digital initiatives involving internal and external stakeholders.