Boosted Financial Operations for Global Banking Giant using managed Application Support & Maintenance
Overview.
Our client, a Belgian subsidiary of an international banking company, provides retail and commercial banking services in Belgiumtogether with related financial products such as insurance and asset management.The bank rolled out a Payments and Cash Management platform across 9 European countries for corporate customers.The bank wanteda reliable technology partner, to manage its platform end-to-end. The objective was to use a global workforce to provide 24x7 support while keeping the cost low.
Coforge consultants were inducted into the Bank’s team at Brussels in the year 2000 to assist in the Bank’s existing system upgrade operation. In 2005, the Support and Maintenance of system was outsourced to Coforge in onsite-offshore model under Time & Material based contract. Coforge commenced Service Desk operations in early 2006 and started delivering offshore development projects from 2007.Now Coforge is in SLA based Fixed Price contract with client for Application Management and Development.
Some of the key projects completed by Coforge for client are:
Coforge partnered in modernization of platform from legacy tech stack to ASP, Java Script. .NET in ASYSCO framework, SQL server hosted on private cloud.
Coforge is supporting bank’s Domestic & International Payments, International Cash Management, Commercial Products – Lending, Facilities, Guarantees, Collaterals, Money Market – Loans & Deposits, Account Management, Reconciliation and Customer Reporting operations.
Coforge set up an offshore development center and ITIL based Managed Service operation for the Bank providing IFS application enhancements and L1 & L2 support from offshore and onsite teams.
ISO20022 changes for incoming CHAPS MX payment messages. Coforge completed technical release of all the changes to all the countries to be enabled in April 2023 as per new timeline provided by SWIFT.
Coforge carried out Projects for audit and regulatory compliances as well as for meeting ING strategic business goals through functional enrichment.
Coforge developed Global billing connection, an interface to send & receive data from Bank’s Global Billing Engine.
Coforge developed IASA security check for MT message signatures validation.
Coforge integrated Bank’s payment tracking and tracing tool using Kafka
Coforge is futher working on roadmap for conversion of other MT message types to ISO20022 standards.
The Impact
5
Major releases / year
24
Minor releases / year
1000+
Person-years effort across Change the Bank and Run the Bank
25
Reduction in operating costs
Seamless knowledge continuity, reduced IT operational risk and meeting robust SLAs
Call to Action
Are operational challenges slowing you down? From seamless support to strategic enhancements, we’ve got you covered. Let’s Engage. SEND US A MESSAGE (Hyperlink)
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