|
When
a leading bank in Bahrain went shopping
for a comprehensive banking solution,
it chose CMC's TC/4
Using
CMC's state-of-the-art total banking solution,
a leading bank in Bahrain is providing
its customers the full range of e-age
value-added banking services via the internet,
mobile phones and ATMs. TC/4 has given
the bank a technological edge over the
competition and streamlined its operations
across all branches.
Client
A leading bank in Bahrain providing retail
and commercial banking services. It has
several branches and ATMs in Bahrain and
operates an overseas branch in Abu Dhabi.
It offers its customers one-stop banking
services, including personal and corporate
banking, foreign exchange and money market
instruments, and fixed yields to variable
returns investment.
The
brief
The bank needed a robust system to deliver
the latest value-added services to its
customers to replace its existing banking
system/technology.
The broad requirements were:
|
|
Centralised
banking solution |
|
|
Interfaces
to existing systems |
|
|
Disaster
recovery solution |
|
|
Internet
banking solution |
The
solution
CMC has successfully developed,
customised, and implemented application
software for a number of Institutions
in the financial sector in India and abroad.
These include banks, mutual funds, stock
exchanges, and insurance companies. By
virtue of its impressive track record
and previous implementation at the Bahrain
bank, CMC was the natural choice for the
enhancement of its existing system.
Product
TC/4© is a highly secure,
extensively parameterised, multi-currency,
multi language system that provides rich
core banking functionality. The system
has a fully integrated and highly flexible
multi-currency general ledger. The system
can be
interfaced to a multitude of new-age delivery
channels such as ATMs, remote terminals,
kiosks, internet banking, tele-banking,
e-cheques and other delivery and payment
systems. The open framework provides immense
scalability and allows easy integration
with external systems such as treasury,
trade finance dealing, asset liability
management systems, etc.
TC/4 provided precisely what the bank
was looking for. It was customised to
suit the bank's requirements
and is being implemented at the bank in
Bahrain by the CMC team.
Strengths
|
|
Provides
anywhere, anytime banking 24 X 7 |
|
|
Interface
possible at central level for various
delivery mechanisms (internet banking,
tele-banking and ATM's) |
|
|
All
branches, although geographically
spread out, yet connected to the central
server. |
|
|
Introduction
of products and services online, real-time,
based on market requirements, enables
the bank to have a cutting edge over
its competitors |
|
|
Multi-lingual
support allows the user to have screens
and reporting in any language. |
|
|
Manages
financial risks and identifies revenue
opportunities
|
|
|
Gives
the bank's position at a glance |
|
|
Strengthens
bank's market position through innovations
using new delivery channels |
Implementation
of TC/4
CMC has been one of the leading system
integrators in India since a very long
time. It has perfected the methodology
for smooth implementation of large-scale
financial systems. The implementation
is being done in the following sequence
|
|
Gap
Analysis - involved the study of additional
functional requirements of the bank |
|
|
Customisation
of TC/4 based on gap analysis |
|
|
Development
of interfaces to external system |
|
|
Pre-shipment
acceptance test by the bank |
|
|
Site
acceptance test |
|
|
Data
conversion and Migration |
|
|
Training
to the bank staff |
|
|
Pilot
branch roll out |
|
|
Transition
to new system |
Benefits
|
|
Any
time, anywhere banking |
|
|
Interface
possible at central level for various
delivery mechanisms like internet
banking, tele banking, ATM's etc.
|
|
|
On-line
bank-wide MIS |
|
|
Centralised
control from the host site and enforcement
of procedures |
|
|
Ease
of addition of new branches |
|
|
Cost
effective disaster recovery setup |
|
|
Easy
introduction of new products/services
at the bank level |
|
|
Automated
inter-branch reconciliation |
|
|
Data
warehousing support |
|
|
Requirement
of technical expertise only at the
central site |
|
