Client Situation
Our client is a leading bank in Lebanon with international branches in Iraq, Cyprus and Saudi Arabia. The bank has around 53 branches across Lebanon and offers retail and corporate banking services. The bank initially engaged Cedar to help transform their technology systems. Over a period, the bank engaged us to assist them in the implementation of the Core banking system.
Cedar’s Approach
Bank engaged Cedar across multiple mandates over the years covering
- IT Strategy: Reviewed current IT strategy and develop a roadmap (Covering the application portfolio, technology infrastructure and IT policies and processes). Conducted 30+ interviews across stakeholder to help setup a project management office for future initiatives.
- System Selection: Evaluated and selected a best in class core banking system based on the bank requirements (Covering the requirements definition, supplier shortlisting, demo evaluations and implementation terms review). Collated and defined 10,000+ requirements and evaluated the same across the 4 shortlisted suppliers.
- Project Management: Assisted the bank in managing the implementation the selected Core banking system from requirement gathering and analysis till Go Live.
Outcome
The program resulted in a successful go live. The results included
- Designed the architecture principles and developed a complete IT strategy of the bank covering nearly 100 systems with a retain, replace, evaluate, upgrade decision for each.
- Defined the IT Policies and Processes and revamped the IT Organisation Structure.
- Evaluated 4 suppliers and selected a best in class core banking system.
- Assisted in project management activities from project initiation to go live.
- Developed the project charter and governance controls for the project.
- Managed 5 different suppliers assisting with the implementation across customisation, testing and implementation.
- Managed 10+ mock migration rounds, 5+ testing rounds across 35 applications including core banking, treasury, online, mobile banking, CRM, private banking amongst many others.
- Achieved a successful fully remote go live where suppliers were not available onsite due to the pandemic situation.
- We made strategy and innovation work.