Client Situation

Our client is the largest Islamic Cooperative Bank and the 2nd largest Islamic financial institution in Malaysia. The bank has around 240 outlets and over 1000 ATMs across the country. The bank has an asset size of USD 25 Billion and operates across consumer, commercial and Islamic segments. The bank was undergoing a core banking transformation project to upgrade its core systems.

Cedar’s Approach

The bank initially mandated Cedar for a 'fit for purpose' diagnostic review of their ongoing core banking transformation by a large supplier from Malaysia. The bank subsequently mandated Cedar to drive the project management office across different workstreams and perform a regular quality analysis and health on the implementation.

Fit for Purpose Diagnostic Review

  • Coverage: Assessed Program Strategy, Functional and Technical capabilities, Program execution and management.
  • Reviewed the complete scope of work, program charter and commercial contract.
  • Evaluated each area on Resource, Application, Process, Infrastructure and Technology to identify potential areas of improvement and finalise the way forward approach.

The bank initially mandated Cedar for a 'fit for purpose' diagnostic review of their ongoing core banking transformation by a large supplier from Malaysia. The bank subsequently mandated Cedar to drive the project management office across different workstreams and perform a regular quality analysis and health on the implementation.

PMO and Health Check: Managed the PMO across 5 workstreams

  • Resources: Formulated a Core team, built and tracked the overall program schedule. Over 6 Mn training hours completed and tracked.
  • Application: Created the Test strategy, Test Plans and ensured execution and sign offs by all stakeholders. Around 80,000 test scripts across 5+ rounds executed.
  • Processes: Document management, communication, cutover and go live planning and execution. Detailed plans of 3,000+ activities were tracked.
  • Infrastructure: Infrastructure Readiness, monitored and managed performance and security testing.
  • Data: Created a data migration strategy and tracked migration activities and signoffs. 15+ trial and mock runs executed
  • Conducted monthly health checks to ensure complete process and policy compliance and highlight risks to the board oversight committee.

Outcome

The program resulted in a successful implementation. The results included

  • Identified and managed potential risk areas proactively.
  • Involved 4800+ people across 230+ branches and business outlets, integrating 60+ subsystems and 1000+ ATMs and CDMs with the core banking application.
  • Ensured a smooth and successful cutover during the midst of the COVID-19 pandemic without any significant issues.
  • Leveraged on partially remote program management during the pandemic to ensure the program was executed on schedule.
  • We made strategy and innovation work.

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