« Core Banking Renewal » – Major Belgian Bank
The financial sector is often suffering from an aging IT infrastructure. In order to be future-proof and adapt to new technologies, a « Core Banking Renewal » has been launched at a major Belgian bank. In order to modernize its IT Core Engines and to avoid a pension wall created by the aging of the expert in the mainframe technology. This bank aims at a « Core Banking Renewal » by replacing its self-made Core Engines by standard packages that would be running on the cloud. The scope of the Program covers the Credits in the first wave and will also cover Payments, Trade Finance, Leasing, Cards, ect.
Phinest was responsible to set up the governance of this complex Program. At Phinest we value PMOs that bring value by enhancing organization and efficient processes in a Program, allowing top management to make the right decisions.
Phinest was responsible for:
- Building up from scratch the entire Program Governance
- Promote the Core Banking Renewal best practices
- Ensure efficiency of the processes
- Put in place a Risk Management Framework for managing Program Risks