Addressing Upcoming Changes in HMDA
18 February 2016
Information Technology Sample Project
Comprehensive IT Strategic Plan and Implementation
BSG consultants were asked by a large Caribbean bank to complete an in-depth assessment of current technology, identify gaps in performance and functionality, and to present a recommendation for alternative systems, insourcing options, and outsourcing options.
BSG consultants ultimately developed a detailed strategic plan and phased plan for strategic implementation. Our consultants developed the required RFPs, led the vendor selection process, and negotiated a complex outsourcing agreement including all required technology and applications.
As a result, the bank was able to deploy an integrated, modern, and efficient technology platform with significantly improved enterprise technology performance.
Application Selection
A Central American bank asked BSG consultants to conduct an engagement, which included a deep business functionality review, a needs assessment and gap analysis, a comprehensive, structured RFI and RFP process, and a technology vendor selection methodology.
With their extensive knowledge of financial services vendors, products and processes, BSG consultants were able to leverage key industry contacts domestically and internationally to expedite the process, even while adhering to a strict vendor agnostic approach which mandated objectivity to ensure a best fit for our client. The client bank benefitted from BSG consultants’ ability to rapidly bring all eligible vendors into the evaluation process.
The engagement was highly efficient and the client bank moved to a completely new, lower-cost technology platform within 24 months.
Benchmarking
A North American bank asked BSG consultants to conduct a review of the bank’s outsourcing vendor performance and pricing.
Our consultants used a proprietary tool that analyzes vendor invoices and compares them to the signed vendor contracts and schedules to ensure that all services paid for are received, well-utilized, and billed at the correct price. BSG consultants then compared all data with their own internal vendor pricing benchmark database to help prepare the client for contract renewal negotiations.
As a result, our client bank was able to reduce its fees to the primary vendor by more than 50% in its renewal contract, with all service standards maintained at former levels or raised to higher levels.