Leading South African Bank Partners with LTM to Transform Core Banking

Client

Our client is a South Africa based financial services group, offering personal and business banking, corporate and investment banking, wealth and investment management, and bank assurance with a presence across eight+ countries, 1.3 Mn+ customers, and 120+ servers.

Challenges

The client needed a transformation in its program management, analysis, and data migration along with improvisation of its testing and MI and reporting. 

LTM Solution

• Technological implementation of FLEXCUBE retail (FCR 2.1) and FLEXCUBE corporate (FCC 7.2) for all modules
• Program management, functional and interface gap analysis along with data migration strategy and execution
• SIT, UAT, and performance and penetration testing along with regulatory MI and reporting
• Business process mapping and documentation, and key and end-user training along with change management

Business Benefits

• 100% platform availability (no major incidents for last two years) related to applications.
• Increased SLA response time from 95% to 99.3%.
• 99.6% SLA achieved, against a target of 90% (18000+ Support tickets per year). 
• 0% Unauthorized/ Change release (> 75+ Changes deployed on-time monthly).
• Accelerated KYC completion - customer onboarding time reduction - two hours/ Customer, (Approx. 5000+ customer/month/per country).
• Bank Digitalization through 100% e-statements and paperless cheques (since 2018 using SYBRIN technology interfaced with FlexCube.
• Implemented Agency banking process (New method for Bank’s customers to access accounts  along with existing Bank-owned  ATM and branches).
• 100% system availability during the start of the day for two consecutive years.
• 400+ hours of annual savings through Batch automation.