Seamless Upgrade: Ensuring Business Continuity with Fiserv Signature

Challenges.

The client used Fiserv Signature core banking system for their retail and commercial banking business in the US. The client faced following business challenges: 

• Maintaining Compliance: Upgrading to a new Fiserv Signature version (12.2) required navigating complex regulatory changes and ensuring continued adherence.
• System Integration: Seamless integration of the upgraded Fiserv Signature with the client's existing DataMart and Actimize AML solution was crucial.
• Business Continuity: Minimizing disruption to core banking operations during the upgrade process was a critical priority. 

Given the number of version changes in a year, the client had three clear mandates.  

• First, the client wanted to periodically upgrade its core banking system to handle the changing regulatory compliance along with the changes in the requirements and needs of their customers.  
• Second, they wanted a partner that could periodically enhance the system, ensure quality assurance on fixes, and administer full production support, leaving their team to focus on strategic activities.  
• Third, they wanted separate Data Marts and the integration of the Actimize AML solution. Coforge delivered on all three mandates leveraging their expert services ranging from quality defect fixes to production support and enhancements 

Solution.

Coforge examined the business situation and performed a detailed analysis to structure a comprehensive plan for Fiserv Signature version upgrade. This helped us customize and upgrade the client’s core banking system from version 9 to 12.2. A holistic solution was also designed to integrate the system with DataMart and Actimize AML solution. The upgraded system worked well with the bank’s loan, time, transaction, and other subsystems fulfilling the business rules of banking and lending products. Our team was available 24x7 to provide additional support in setting up a configuration for general ledger accounts. 

We followed a four-pronged strategy to upgrade the existing system which:

• Used end-to-end transition methodology across Fiserv core banking subsystems and business processes for smooth transition
  • Supporting and enhancing the core banking system’s subsystems and interfaces
  • Providing process workflow knowledge of the product
• Used flexible and predictable engagement and pricing models to scale resources up and down as needed
• Deployed QA consulting and Testing Center of Excellence (TCoE) models: All testing activities were consolidated using our QA strategy, freeing up resources for strategic transformation and innovation

The Impact.

The client successfully upgraded to Fiserve version 12.2 without adversely impacting their subsystems.