bancolombia- finacle ivs case study - edgeverve · technologies with new flexible systems. ......
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ProfileBancolombia is the largest commercial Bank in Colombia and one of the largest Bank in Latin America. The bank is headquartered in Medellin, the second largest city in Colombia and founded in the year 1945. The Bank has ended 2014 with COP 148,725 billion in assets, liabilities COP 131, 908 billion and consolidated net income of COP 488 billion. The Bank has 30,158 employees, 1070 branches and 4524 ATM’s and provides banking services across Colombia, El Salvador, Bainstmo and subsidiaries such as Panama, Cayman, Puerto Rico. Together, Bancolombia and its subsidiaries provides stock brokerage, investment banking, leasing, factoring, consumer finance, fiduciary and trust services, asset management services to its customers.
Bancolombia
CASE STUDY
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Overview
Bancolombia chose Finacle core banking
solution to transform its business under
the program called the Innova project.
The solution has enabled the bank to
operate a seamless platform across Latin
America and consolidate operations from
across the region into a single, state-of-
the-art system. Bancolombia can now
get new products to market within days
and they’re able to clear payments and
loans immediately because of straight-
through processing. Finacle centralizes
all of the bank’s vital functions into one,
easy-to-operate platform. Supporting
multiple languages, Finacle is an effective
solution for both Spanish- and English-
speaking subsidiaries, and is tailored to
accommodate banking requirements in
every region Bancolombia operates.
This Implementation program was to
replace existing legacy solutions with a
new, state of art, Finacle core banking
solution and will re-engineer the business
processes to deliver enhanced customer
experience. Its purpose is to deliver an
enhanced customer proposition whilst
at the same time replacing existing
technologies with new flexible systems.
While embarking on this initiative,
Bancolombia engaged Finacle IVS as their
trusted independent testing partner for
both functional testing and for setting up
the Finacle test center of excellence.
Business Drivers
The key business drivers for the
transformation strategies were:
• Optimized customer satisfaction
through streamlined processes and
more robust tools
• Transformation driven by technology
with a clear & feasible roadmap that
delivers quality and adhere to the
timelines
• Tellers: GOLF for Colombia and Finacle
for Subsidiaries and Bainstmo along
with channels and real time online via
STI.
• Increase customer satisfaction through
product innovation, consistency of
experience and competitive pricing
• Profit generation through better value
products, enhanced customer targets
and reduced system maintenance costs
About The Program
While embarking on this initiative, Bank
engaged Finacle IVS as their trusted
independent testing partner for both
functional testing and for setting up the
Finacle Test center of Excellence.
Key Aspects of the program:
• Test planning: The complete offshore
and test execution has been carried out
a an onsite-offshore model
• The testing phase and timelines aligned
with the implementation roadmap and
involved a team of 30 people during
days of peak activity
• The program considerably reused the
test cases from other implementation
testing engagements and also from
Bancolombia’s implementation
across Colombia, Bainstmo and other
subsidiaries
• Infosys Automation framework has been
leveraged to automate regression test
suite
• The Finacle implementation testing
covered the customizations catering to
Colombian regulations in English and
Spanish language
• The testing program was SLA driven
covering deliverables for the Spanish
language too
• The program leveraged HP – Quality
center for test and defect management
which has resulted in zero operational
defects
Best Practices
Test planning:
The preparation of test cases was based on
solution documentation to test end to end
functionalities. The bank’s functional team
and subject matter experts (SME’s) were
involved throughout the life cycle to review
the test cases created. They also provided
clarifications on the business processes to
understand the expectations from business
teams and ensure 100 % test coverage. The
team then prioritized the test cases based
on the critical business functionalities,
key customizations, regression test cases
and high defect prone areas. The bank’s
functional SME’s provided a walkthrough
of the solution documentation and the
Infosys testing team provided this for
the test cases. All this ensured timely
completion of test case creation, review
and approval activities.
Test execution:
The bank and the Infosys team adopted a
focused and well defined testing approach.
This covered the Finacle solution testing
using created and real-time data, system
integration testing and acceptance testing.
This has helped the team in identifying
critical defects early in the life cycle and
ensure on time completion of testing
activities.
External Document © 2016 Infosys Limited
The bank’s team was present at the
offshore location during Finacle solution
testing, which helped to categorize the
test cases as per business priorities and
align with the test execution plan. During
Execution, workshops were conducted
involving the bank’s functional team,
Infosys functional and testing team
to clarify the queries and validate the
expected functionality output. This has
helped to reduce the defect slippage to UAT
Phase and also timely go-live of the solution.
Summary
A successful hand over was made with the
completion of each of phase of testing. The
bank has saved 30% time and effort due to a
well-planned and efficient testing approach.
The entire exercise has met all the bank’s
expectations completely and the bank is
now armed with a testing suite for future
exercises. The entire exercise has helped
Bancolombia enhance their confidence
in the newly released Finacle application,
improve the productivity and lower the
overall cost of ownership.
Juan Camilo Zuluaga Peralta, Leader - Panama Green Field, Bancolombia says “I want to take this opportunity to thank the entire Infosys team for all their commitment and good work to get this project done”.
Nancy Restrepo Montoya, Test Manager – Project Innova , Bancolombia says “In general terms, the team has faced the project with great responsibility and dedication. The activities planned as part of the certification process have been executed with very good results and all the risks reported have been mitigated with effective actions”.
Yanin Parra, Test Leader – Project Innova, Bancolombia says “Infosys testing is a great team, committed and very agile in every task that they are executing, like incidents certification and other E2E testing support on the Innova project.”
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