Executive Summary
The third largest national bank in India wanted to add its foreign branches to its treasury operations to achieve straight through processing across its front office, middle office, and back office.
Business Challenge
- To comply with its regulatory body, the bank had to implement a treasury system to handle all its treasury activities for four of its different Foreign branches.
- The bank required an implementation partner to meet the deadline with minimal time-to-market while ensuring the quality was not compromised.
- The solution needed to integrate seamlessly without disrupting the existing setup, ensuring a clear separation (Chinese wall) between each entity.
- The scope of the implementation varied for each entity, adding complexity to the project.
Business Challenge
- To comply with its regulatory body, the bank had to implement a treasury system to handle all its treasury activities for four of its different Foreign branches.
- The bank required an implementation partner to meet the deadline with minimal time-to-market while ensuring the quality was not compromised.
- The solution needed to integrate seamlessly without disrupting the existing setup, ensuring a clear separation (Chinese wall) between each entity.
- The scope of the implementation varied for each entity, adding complexity to the project.
Our Solution
- Finastra’s Kondor had been the bank’s primary treasury solution for managing operations for an extended period.
- ITC Infotech, in collaboration with the bank’s business and technical teams, devised an optimized approach that would integrate with the existing setup without disrupting operations, providing a working and efficient solution.
- All foreign entities were accommodated in a single instance of Kondor with each entity having a Chinese wall between them to maintain Data integrity.
- Interfaces were developed to ensure reusability across all entities, enhancing scalability and efficiency.
- Extensive product knowledge, treasury domain expertise, a strong testing team, and close collaboration with the customer ensured the successful rollout of all entities.
- The challenges posed by entities in different time zones were resolved through consensus with the bank’s treasury team, ensuring smooth coordination.
Key Results and Benefits
- The successful rollout of the European entity boosted customer confidence in ITC Infotech, leading to further rollouts for the US, APAC, and EMEA regions.
- Successful implementation of Kondor across Europe, the US, APAC, and EMEA regions ensured straightthrough processing (STP) of deals, meeting major regulatory requirements.
- The solution eliminated manual intervention in deal processing from the trading platform to Kondor and other third-party systems.
- ITC Infotech’s deep treasury landscape knowledge, product expertise, and reusable components contributed to a shorter time-to-market.
- The first entity was implemented in six months, followed by the other three entities, each completed in three months.
About ITC Infotech
ITC Infotech is a leading global technology services and solutions provider, led by Business and Technology Consulting. ITC Infotech provides business-friendly solutions to help clients succeed and be future-ready, by seamlessly bringing together digital expertise, strong industry specific alliances and the unique ability to leverage deep domain expertise from ITC Group businesses. ITC Infotech is a wholly owned subsidiary of ITC Ltd., a 100-plus-year-old diversified conglomerate with businesses spanning Hotels, Consumer Goods, Paperboards & Packaging, Agri Business, and Information Technology. ITC Ltd. has been in the hospitality business for over 4 decades. It has over 100 properties across 70+ destinations. The hospitality practice at ITC Infotech is 800+ people strong and most have experience in the hospitality domain leading to a high-quality IT service experience for its hospitality customers.
