Regional Bank achieves 35% cost reduction with seamless Fiserv Signature Core Banking Upgrade

Challenges.

As part of their digital transformation journey, the client needed a partner for delivering system upgrades and enhancements, and providing exhaustive quality assurance and production support, thus freeing their internal team for strategic initiatives. The challenges for the Bank and Coforge were as follows:

• Legacy skills and core banking expertise needed to manage upgrades, enhancements and support.
• Frequent upgrades to Fiserv Signature (twice annually) were needed to meet regulatory requirements and evolving customer needs. Upgrades also impacted integration with separate Datamarts and the Actimize AML solution.

Solution.

A team of Coforge experts with legacy skills, core banking expertise, and knowledge of legacy modernization used a well-defined transition methodology to ensure a smooth transition across all subsystems and business processes.

By leveraging extensive knowledge of Fiserv Signature subsystems and interfaces, we implemented a comprehensive solution to address the client's challenges:

• Upgrade Strategy: A detailed plan facilitated a seamless upgrade from Fiserv Signature version 9 to 12.2
• Data Integration Strategy: The upgraded system integrated seamlessly with Datamarts and the Actimize AML solution.
• QA Strategy: Centralized testing activities through a Testing Center of Excellence freed up resources for innovation.

The Impact

Coforge’s 24/7 support ensured minimal disruption and rapid resolution of critical issues while our scalable resource allocation models accommodated the client’s varied needs. We were able to deliver:

• 35% Reduction in maintenance and enhancement costs
• 30% Savings in upgrade support and customization costs
• 25% Decrease in test cycle time
• 35% Improvement in response time to major business process changes