Our client is amongst the largest banks in Bahrain offering services across Retail and wholesale banking. The bank has an asset size of around USD 30Billion. As part of business and corporate banking strategy, the bank was looking to select a cash management, trade finance and supply chain finance solution to meet the needs of its corporate and SME customers.
Cedar was mandated to assist the bank in the selection of an integrated front to back cash management, trade finance and supply chain finance solution.
- Reviewed the current state architecture for transaction banking capabilities available within the bank.
- Created a framework and an architecture blueprint for the target state of the bank.
- Developed a complete business requirement specification document and the proposal supplier responses across cash management, trade finance and supply chain finance.
- Created a shortlist criteria for finalising supplier for detailed demonstrations and evaluation.
- Evaluated the suppliers across functional, technical and supplier capabilities and experience.
- Evaluated the commercials of the shortlisted suppliers.
Assisted in the evaluation and finalisation of the supplier for implementing cash management, trade finance and supplier chain finance capabilities. The results included
- Developed the target state capability blueprint for the bank covering 30+ applications.
- Prepared a detailed requirement specification for evaluation covering 2,000+ requirements.
- Shortlisted suppliers for issuance of the RFP.
- Evaluated the supplier response to the RFP and shortlisted suppliers for a detailed evaluation through a product demonstration.
- Managed and conducted detailed workshops with the supplier and the bank across multiple countries.
- Identified gaps in the capabilities offered by the suppliers.
- Evaluated the commercials to provide an analysis and potential areas for negotiation
- Assisted the bank in finalising a decision.
- We made strategy and innovation work.