Client: A Central Bank in the African Region
Industry: Central Banking
Solution: Offshore Support & Process Optimization
1. Overview
A Central Bank in Africa utilizing Temenos T24 as its core banking application was facing a critical operational issue that impacted its daily processing timeline. The bank’s Close of Business (COB) process was severely delayed, creating significant operational risk and inefficiency.
2. Challenges
The bank’s primary challenge was a single, critical performance issue:
- Excessive COB Processing Time: The COB process was taking over 12 hours to complete, a drastically long time that hampered the bank’s ability to finalize daily operations and prepare for the next business day in a timely manner.
3. Solution
ACS addressed the issue with a targeted, analytical approach delivered remotely:
- Offshore Support Model: ACS utilized its offshore model, assigning a dedicated consultant and leveraging its Center of Excellence (COE) to analyze the problem and develop a resolution methodology in coordination with the bank’s IT team.
- Problem Identification and Resolution: The ACS team identified around 197 problematic accounts that were causing the delays. After receiving the bank’s approval, these records were deleted.
- Testing and Optimization: Following the record deletion, the team resolved the resulting errors that appeared during COB runs in a test environment, ensuring the entire process was fully optimized before deploying to production.
4.Outcome
The engagement produced a dramatic and rapid improvement in operational efficiency:
- Drastic Time Reduction: The COB processing time was reduced from over 12 hours to just 4 hours, an improvement of over 66%.
- Rapid Optimization: The entire analysis, resolution, and optimization process was successfully completed within a short timeframe of just three weeks.