The application of technology to financial institutions, both commercial and central banks, in the emerging markets represents the opportunity to accelerate the rate of change and narrow the gap between the developing and mature financial markets. It builds the skills and infrastructure necessary for development of the institution and the financial sector as a whole. The involvement of Users and ICT Department representatives in the ICT process is vital to the successful implementation of new technology and applications. ICD Corporation is experienced in building the linkages between both organizations.
- Requirements Definition – Developing business requirements can be a challenging task for Users and ICT Department professionals alike as it requires knowledge of the financial institution, international best practice and the available technology and applications in the market. Requirements need to be defined in the context of what is needed and what is possible. ICD Corporation’s extensive experience working with financial Institutions all over the world brings this knowledge to your organization to ensure that you can meet your existing needs and those that may be required in the future.
- Business Process Analysis – It is often necessary to review and assess existing business processes when developing business requirements. Some processes may no longer be relevant or may require modification based on new applications and best practice. ICD Corporation helps you assess the current process and redesign when necessary to gain process efficiency.
- Development of Functional and Technical Specifications – Once the business requirements and the review of business processes have been completed, it is necessary to develop the detailed specifications that will become part of the procurement process. We can develop or assist the bank in development of the specifications in a manner that enables the financial institution to differentiate competing vendor solutions.
- Procurement Assistance – The procurement process for both public and private sector organizations can be challenging and full of risk. ICD Corporation assists financial institution in the Request for Proposal (RFP) process and provides the institution with the evaluation methodology to ensure the bank chooses the most appropriate solution and manages the risk associated with the procurement process.
- Assessment of ICT Organization – ICT organizations often need to update their skills and organizational models as part of the modernization process. ICD Corporation has extensive experience assisting banks in the assessment and formulation of skilling requirements through its “skills inventory” methodology. We also can assist you in developing the most effective organizational structure to meet the unique requirements of your organization.
- Policy Formulation – The development of the policies and procedures required for efficient and effective administration of ICT services is vital to the success of any ICT Department. The development and application of policies for IT Security, IT Governance and other related policies and procedures is a laborious process. ICD Corporation can assist the institution in reviewing existing policies and procedures and either make recommendations or provide the completed policies and procedures consistent with bank practices.
- Project Management – ICD Corporation can assist the institution in management of all phases of your modernization project.