Core banking replacement
Common components include legacy replacement as well as landscape modernisation. Increasingly, it also demands a scalable core platform strategy to support newer operating models, business agility and digital innovation.
Wealth management 4.0 demands robust and flexible banking platforms that allow the business to evolve and grow. From business process analysis design to business acceptance, system configuration to platform development and data migration to cutover, our IT specialists fill the gaps between business design and technology delivery, architecture need and systems selection to help clients align operating models with business strategy.
Banking platform transformation affects the whole organisation. Orbium has experts to help clients prepare and integrate the transformation across product, business process, function and stakeholder priorities, as well as the wider IT systems.
Today’s platforms must be flexible enough to deliver the sophisticated products and services demanded by customers and enable businesses to meet ever-more complex regulation while delivering cost efficiencies from synergies and automation. It is the key to growth and economies of scale. But replacing or improving core banking platforms is seen as challenging, expensive and time-consuming. This is where Orbium can help.
Today, there are more options than ever when looking at a core banking transformation. Only a software implementation partner with broad and deep experience can deliver the benefits effectively and efficiently. Practical and pragmatic, Orbium helps clients build a structured approach with a 360-degree understanding of the needs and challenges. From this viewpoint we can align business goals with IT through processes, people and organisational change, rapidly delivering effective results.
Optimisation is central to getting the most from a core banking platform. This is about improving data quality through process consistency, straight-through processes through risk
budgeting and reducing input errors via digitisation by drawing on our business and IT expertise.
Combining our extensive knowledge of wealth management processes, products and stakeholders with our broad and deep expertise in Avaloq banking systems, our Bank360 approach helps our clients streamline and optimise their operating models.
Seamless user experience and optimised processes require strong, complete and stable data models. Orbium’s agile methodology was developed to centralise the accountability of data transformation from extraction to user validation.
Our experienced team of IT specialists have a broad knowledge of wealth management customers, portfolio strategies and financial products and can ensure the continuous delivery of quality data for projects. With key accelerators for Avaloq projects, improved data is automatically delivered daily for business acceptance.
Open banking and responsive RESTful APIs eliminate the need for data duplication. But success requires the seamless integration of the core banking platform with client, portfolio and transaction models via a dynamic ecosystem.
Over many years we have cultivated our own partner ecosystem, members of which support our clients to ensure they get the best solution efficiently in terms of system, data and process architectures.
Banking platform transformation programmes affect a large number of senior stakeholders across the business. Timely business acceptance demands effective test strategies and stakeholder management. Orbium’s testing methodology and unique Avaloq test automation tools/software are key to avoiding costly delays when replacing a core platform or integrating third-party software.
Our methodology accommodates DevOps, Agile and waterfall projects.