Optimized Operations and Maintenance for a Leading International Bank
Overview.
This case study explores how Coforge, collaborated with a Belgian subsidiary of an international banking company to manage and develop its Payments and Cash Management platform for corporate customers across Europe.
Global Rollout: The bank needed to manage a platform serving 9 European countries (London, Breda, Frankfurt, Madrid, Vienna, Milan, Geneva, Lisbon & Dublin).
24/7 Support: The requirement was for reliable and cost-effective 24/7 support.
Platform Development: The bank sought a partner to continuously develop and enhance the platform to meet evolving needs.
Solution.
Coforge's partnership with the bank began in 2000 and has evolved over time. Here's a timeline of key milestones:
2000: Coforge consultants joined the bank's team in Brussels to assist with system upgrades.
2005: Support and maintenance transitioned to a Time & Material based offshore-onsite model.
2006: Coforge established a Service Desk for the platform.
2007: Offshore development projects commenced.
Present Day: Coforge operates under an SLA-based Fixed Price contract for application management and development services.
The Impact.
Reliable Partnership: Coforge ensured seamless knowledge continuity, reduced IT operational risk, and consistently met strict SLAs.
Agility and Innovation: Frequent platform releases (5 major and 24 minor releases a year) allowed the bank to stay ahead of regulatory changes and market demands.
Cost Optimization: Coforge's application managed services framework and optimized onshore-offshore ratio led to a 25% reduction in operating costs.
Scalability: Coforge's dedicated team provided over 1000 person-years of effort across "Change the Bank" and "Run the Bank" initiatives.
