BUSINESS CASE

  • Fidelity Bank is a large, progressive bank in Ghana with a vision to become a world-class financial institution.
  • Fidelity Bank uses Oracle Flexcube as its core banking application since inception. Oracle Flexcube was upgraded from version 7.1 to version 11.1 in the year 2011.
  • Since May 2012, i-exceed technology solutions has worked with the team at the Bank for various tasks assigned from time to time.
  • The focus of the engagement was structured to focus first on resolving post upgrade issues and operating issues arising from the upgrade. The focus then shifted to building additional capabilities, interfacing with other enterprise systems and technical & performance optimizations.
  • The current project focus is on support for go-live of additional modules and design and implementation of new business and regulatory requirements.

       WHAT WE ACHIEVED

  • Explanation & resolution of funds parked in migration GL’s.
  • Correction of the asset base and revaluation entries of the bank.
  • Optimized the infrastructure, batch & online performance and improved the scalability of the system.
  • Designed, implemented & tested all mandated interfaces into enterprise systems in the bank.

           PLATFORM UPGRADE

  • Realization of income from funds parked in migration GL’s.
  • Stabilized loans, revaluation & deposit rollovers.
  • Improved operational controls allowing for stricter financial data management.

           INTERFACING & OPTIMIZATION

  • Reduced batch elapsed times from order of days to hours, easing operations.
  • Implemented SWIFT interface and STP of funds processing.
  • Implemented loan collections & optimized reconciliation modules.
  • Designed & implemented multiple integrations to support mobile banking initiatives.
  • Mobility platform expected to enhance customer reach and service ratings.