We are true partners with our clients, and work hand-in-hand over the long term to bolster each bank’s success. That is why we emphasize the post-implementation process just as strongly as the pre-implementation and implementation steps.
After a successful implementation, we recommend a full system audit by our Quality Assurance teams. We recommend this regardless of service provider; in fact, we are frequently requested to perform audits for 3rd party implementations.
The process takes 3-10 days on-site, and the report covers: all aspects of the project and its deliverables, current system status, organizational structure, risk & compliance, security, vendor management and project management issues. At the project level, the report also deals with technical, functional, documentation, and support issues.
Run the Bank
By the same token, the system´s “close of business” activities must be monitored closely. It takes time to run interest calculations and account reports after the bank closes, and supervision is required in order to ensure that these functions run smoothly, in order that the bank is ready for business the following day. SOFGEN can train bank staff, have a team on call, or have a team on site to perform monitoring functions.
As the bank´s support organization matures, the SOFGEN support resource can be wound down.
SOFGEN has extensive experience in upgrading clients to newer versions of their core banking systems. These years of experience result in well planned, timely, and efficient upgrades. Because of our position in the market, we are well placed to know, from a functional perspective, the strengths and weaknesses of various releases and how these map against the functionality being used by the bank.
Our upgrade services range from full upgrade strategy development, through high-caliber customization, testing, and training. From an organizational perspective, we help the bank interact with the vendor, and we have in the past brokered the provision of on-site support, in order to ensure adequate critical error turnaround times, particularly in the immediate post “Go Live” timeframe.
Ongoing System Maintenance & Change Management
Once you install a core banking system, change becomes constant. The software handles thousands of different functions, and those functions change as the bank´s services evolve. Additionally, the systems environment is constantly changing, with regulatory requirements, software patches, interface updates, infrastructure improvements, and more. All of these events affect the core banking system over its lifetime and lead to a need for ongoing system maintenance.
The life of a core banking system is usually between 5 and 15 years. This means that SOFGEN spends as much effort maintaining banking systems for its customers as it does implementing new ones.
We provide total core banking software lifecycle maintenance. From system adaptations and reports to testing and release management tools, we have everything you need for the entire lifecycle of your core and satellite systems.