CORE Banking Transformation, a required change for Banks

: From needs analysis to roadmap definition

Abstract

First, this thesis analyzes the evolution of banking sector activities in our society as well as the main changes, threats and opportunities that banks must face in order to survive (economic crises and loss of consumer confidence, increased competition via many factors such as globalization or development of new market entrants, implementation / developments of new directives and regulations applicable to the sector, etc.).
Then, the analysis will focus on topics slowing down the evolution of the bank and the identification of one of the major risks: the obsolescence of the CORE banking system (CBS). The importance linked to this risk will then be detailed through a detailed definition of CBS, its central utility within the bank and the danger linked to their replacement / update. Most banks, while fearful of making such a transformation, have no choice but to do a major update / replacement of their legacy system to improve innovation and evolution.
Following sections will provide rules and best practices to determine a first roadmap for the CORE banking transformation program, starting with the strategic delineation of the project with the definition of the main constraints, goals and objectives and moving on to a more “operational” view through requirements engineering and analysis of the bank's business, information systems and technical architectures. Once these analyzes are done, the trajectory between the AS-IS and TO-BE situation will be subdivided into a set of tasks that should be listed in a work breakdown structure. Finally, a part will be devoted to the management of dependencies to improve efficient planning and management of the program.

Date of Award	24 Aug 2020
Original language	English
Awarding Institution	University of Namur
Supervisor	Ivan Jureta (Supervisor)