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We deliver IT solutions to some of the world´s most prestigious financial institutions.
Case Study #1 Avaloq Banking System at NOMURA Leverages SOFGEN's Development Centre in Manila
During the implementation of the Avaloq Banking System for the NOMURA Wealth Management Division Non-Japan Asia (WMD NJA), a division of NOMURA, developments were partially outsourced to the SOFGEN Avaloq Development Centre (ADC) located in Manila, this with a view to lowering system Total Cost of Ownership.
Francisco Fernandez, CEO of Avaloq Evolution AG, said “This is a milestone for Avaloq. By cooperating with SOFGEN, we demonstrated the ability to provide strong delivery services at a reasonable price. In the Asian market particularly, this USP is one of the most important arguments when banks select new software.”
The SOFGEN ADC is the only accredited provider of Avaloq offshore services and offers Avaloq customers worldwide the opportunity to obtain services at rates consistent with those of the global core banking systems market.
Case Study #2 Successful Usage of CreditQuest in Southern Africa
NBS Bank Limited in Malawi carried out a detailed study and analysis of the functionality of major credit risk management applications in use across sub-Saharan Africa. Following this evaluation, which included numerous site visits, NBS Bank selected CreditQuest (Harland Financial's comprehensive end-to-end credit risk management system) to automate the bank's credit administration.
SOFGEN created an interface between the bank's core system and CreditQuest thereby facilitating a free flow of data between the two platforms and enabling NBS Bank to take full advantage of its technology investments.
"We desired to implement a solution that will reduce the bank's credit administration costs, improve our credit quality, reduce our compliance risk and enhance our credit reporting. NBS is grateful to SOFGEN for delivering the project in a timely and professional manner," observed Mr. John Biziwick, Chief Executive Officer, NBS Bank.
Case Study #3 Multi-Country, Multi-Site Rollout
Hypo Group Alpe-Adria has a large presence in former Yugoslavia offering retail and corporate banking services in 5 countries and has decided to deploy a single, integrated banking system throughout its operation, namely T24 R08. Project goals are to standardize the bank´s brand, to better monitor subsidiaries and manage risk and to help new offices get up and running as quickly as possible.
A strategic business review revealed that the bank´s existing mix of differing processes and organizational structures hampered expansion plans, and that the bank´s various technologies were not well aligned with the bank´s business objectives. The suggested solution, based as far as possible on Model Bank was to implement a unique organizational model before creating a single, standardized IT system for the bank´s offices over a three-year period.
Redesigning processes, system and organizational structures are improving the bank´s performance by cutting costs, boosting profits, optimizing technology and serving customers more efficiently. Implementing a single IT standard companywide is allowing the bank more effectively to expand its network, to reduce overhead and maintenance costs, to reduce training costs, to improve service quality and to improve branch oversight.
Case Study #4 Implementation First Aid
A major U.S. bank contacted SOFGEN for assistance two years into a system implementation that had originally been scheduled for a one year period. SOFGEN put a senior consulting team in place that included both technical and banking experts.
The team studied the project and within a month drew up a detailed white paper that described the project issues to date and specified all of the steps required to get the project back on track in the areas of project management, database administration and interface development.
Case Study #5 Follow the Sun Support
Unicorn Investment Bank in Bahrain encountered an unexpected, critical problem with its core banking system that required a fix within 72 hours. The problem spanned several international offices within the Shari´ah compliant company, which has branches in the United States, Malaysia, the United Arab Emirates, Turkey and Pakistan.
The problem was so complex that it required the intervention of highly experienced consultants, none of whom were available to travel to Bahrain in the timeframe required, so SOFGEN arranged a "follow the sun" strategy that had our most experienced consultants working remotely in shifts from various parts of the world.
The initial analysis was carried out in Bahrain with support from SOFGEN consultants in Belgrade. Then the problem was routed to SOFGEN´s Bahamas office, where a senior consultant worked on the issue remotely along with the client. A solution was put into place, and on the second day SOFGEN teams in Singapore and Hong Kong conducted tests using various transactions. The tests were successful, and on days two and three the Bahamas consultant completed installation and testing, meeting the tight deadline.
