BRAC BANK

BRAC BANK – Technology Transformation FROM Finacle CBS 7.0.18 TO 10.2.18

• Business Drivers – The Bank has taken a major technological transformation. The Bank started a core banking transformation project, migrating from legacy banking technology to Finacle, and changing much of the banking application portfolio and infrastructure with it, the digital banking transformation took place on 16th January 2017. The Finacle implementation project at BRAC Bank Bangladesh was remarkable because the project was completed successfully and was largely incident free.
• In addition to various IT roles, the Bank deployed excess business employees, with each
  executive managing a project track. Fifteen employees from the Bank ’s IT organization
  were deployed full time as a Core Team.
• Banking Data Migration and Standardization, As Would Be Expected of a Project of This
  Nature, Was Particularly Challenging and Went Through Over Multiple Runs.

Salient Features of Implementation

• A Train-The-Trainers Approach Was Adopted for Training Branch Employees. After
  Several Rounds of User Acceptance Testing, Roll Out Simulations, And Training,
  Finacle Was Rolled Out to Each Of The Bank’s 150/53 Branches Big Bang roll out On the
  Go-Live Date
• The Bank Deployed Several Solutions in Conjunction with Finacle Core Banking, Finacle
  Alert Server, ATM Switch, Integration with Automated Clearing House and Payment
  systems, Mobile Banking, Among Many Others.
• The Bank Reports No Significant Delays or Catastrophic Problems after Go-Live. Also,
  The Big Bang Roll Out Was Accomplished Without Incident.
• Custom Workflows were built for quick account opening and transaction generation.
• Product API’s were customized to suit the need of day to day business operations to
  increase the productivity with less time factor.
• Custom API’s were built for both Inbound and Outbound calls to seamlessly interface
  with third party applications.
• A robust open API repository allows the bank to effectively implement open banking
  and easily collaborate with external ecosystem.
• The bank now has a future-proof platform to accelerate innovation and provide highly
  personalized offerings to its customers.