Financial institutions around the world are undergoing major technology modernization initiatives. Our banking experts provide digital transformation services in the form of core banking platform integration and customized digital solutions.
The client is one of the largest bank issuers in Europe and serves 11 million customers across the continent. Orion has been involved with the BFSI giant for more than 6 years.
Challenge
The client wanted to overhaul their existing banking systems with a major technology modernization endeavor. To integrate and roll out a new core banking platform, Temenos Transact, the client needed a partner to set up an open architecture IT package. The client wanted to offer innovative products and seamless, user-friendly services to suit the evolving needs of the Irish and European markets.
Solution
The Orion team began with the planning and design phase. A comprehensive analysis and design workshop was conducted with the client and their technical experts. Conducting a Gap-fitment analysis and planning workaround solutions would minimize customizations and enhancements. The design and validation were based on Temenos standards and comply with the client’s internal policies.
The team developed and introduced massive, menu-based process workflows that allowed business users to seamlessly move through screens. A Broker Portal was also introduced for mortgage journeys based on a bespoke origination system.
A colocation model was used to deliver the system which enabled our teams to deliver the live product on time. We also provided onsite support to monitor, resolve, and provide escalation of any issues encountered. Our partnership was elevated to managing and owning all of the local IPs developed for the Temenos country model bank.
Impact
The client had a new retail banking suite with parts of corporate banking, customer onboarding, products, payments, and channels. The Temenos implementation began in Ireland and based upon the success, Orion was made their preferred development partner for the bank’s other entities in other strategic markets. With their implementation, they were able to capture the mortgage segment in Ireland and open branches while maintaining regulatory compliance in each country they were in.
