request for proposal...fully integrated and seamless system that provides operational efficiencies...

CARIBBEAN DEVELOPMENT BANK

REQUEST FOR PROPOSAL

Purchase and Implementation of

Core Banking Solution

Issue date: September 25, 2020

For Vendors Use Only

IMPORTANT DATES:

Vendor briefing (virtual meeting): October 09, 2020 at 1:30 PM (Barbados local time)

Final day to submit questions: October 19, 2020 by 4:00 PM (Barbados local time)

Proposal Due Date: October 26, 2020 by 4:00 PM (Barbados local time)

Caribbean Development Bank Purchase and Implementation of Operations Platform

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TABLE OF CONTENTS

1. Overview of Project ...................................................................................................................... 4 1.1. Bank Overview .................................................................................................................... 4 1.2. Project Objectives ............................................................................................................... 4

1.2.2. Current Banking Solution Landscape ........................................................................ 5 1.2.4. High-Level Scope ...................................................................................................... 7

Records Management ................................................................................................................ 8 Role-based workflows and Delegation ....................................................................................... 9 Data Migration ............................................................................................................................ 9 Client Portal ................................................................................................................................ 9 Training 9

3. Invitation to Respond .................................................................................................................. 10 3.1. CDB Contact Person ......................................................................................................... 10 3.2. Withdrawal and Modification of Proposals ........................................................................ 10

4. Instructions to Vendors ............................................................................................................... 11 4.1. Schedule of Events ........................................................................................................... 11 4.2. Information Pack ............................................................................................................... 11 4.3. Vendor Briefing ................................................................................................................. 11 4.4. Variation or Termination of RFP Process ......................................................................... 12 4.5. RFP Questions and Clarifications ..................................................................................... 12

5. RFP Responses.......................................................................................................................... 12 5.1 Response Format ............................................................................................................... 12

5.1.1 Language and Measurement ................................................................................... 12 5.1.2 Pricing and Pricing Basis .......................................................................................... 12 5.1.3 Payments by CDB .................................................................................................... 13

5.2 Covering Letter ................................................................................................................... 13 5.3 Vendor Profile and Demographics ..................................................................................... 13 5.4. Technical Proposal............................................................................................................ 13 5.5. Financial Information ......................................................................................................... 14 5.6. Proposal Submission ........................................................................................................ 14

6. Proposal Evaluation .................................................................................................................... 15 6.1. Preliminary Examination ................................................................................................... 15 6.2. Detailed Response Examination ....................................................................................... 15 6.3. Detailed Technical Evaluation ........................................................................................... 15 6.4. Evaluation Criteria ............................................................................................................. 16 6.5. Presentations and Meetings ............................................................................................. 16 6.6. Clarifications ...................................................................................................................... 16 6.7. References ........................................................................................................................ 16 6.8. Product Demonstrations ................................................................................................... 16

6.8.1. Logistics ................................................................................................................... 16 7.2. Notification of Award ......................................................................................................... 17 7.3. Debriefing of Respondents ............................................................................................... 17 7.4. Treatment of Information ................................................................................................... 17

TECHNICAL PROPOSAL .............................................................................................................. 17

Section A — General Requirements .............................................................................................. 17 CDB Environment .................................................................................................................... 17


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Description of Cloud Core Financial Management Strategy and Project Objectives ........ 17 Current Financial Management Systems Environment ..................................................... 17 Cloud Core Financial Management Systems Project Implementation Timeline ............... 18

VENDOR RESPONSE ............................................................................................................. 18 Ability to Meet CDB’s Cloud Core Financial Management System Objectives ................. 18 Ability to Meet Requirements of Project Timeline.............................................................. 18

Section B — Business Requirements ............................................................................................ 18 Questionnaire on the Functional Requirements of the Application .......................................... 18 VENDOR RESPONSE ............................................................................................................. 19

Description of Solution and Pricing ................................................................................... 19 Product Capabilities and Functions ................................................................................... 19 General Comments ........................................................................................................... 19

Section C — Technical Requirements............................................................................................ 20 VENDOR RESPONSE ............................................................................................................. 20

Product and Service History .............................................................................................. 20 Product Support and Service Warranty ............................................................................. 20 Product Upgrades and New Version Releases ................................................................. 20 Data Center Locations and Ownership ............................................................................. 20 SLAs and Disaster Recovery Plans .................................................................................. 21 Data Archiving Capabilities ................................................................................................ 21 Training 21 Ability to Support CDB Master Data Requirements........................................................... 21 Ability to Support the Application Integration Requirements of CDB ................................ 21 Ability to Integrate With CDB’s Infrastructure and Standards ........................................... 21

Appendix 1 – RFP Response Format ...................................................................................... 22 Appendix 2 – Some Features of CDB’s Standard Terms and Conditions ............................... 34


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1. Overview of Project

1.1. Bank Overview

The Caribbean Development Bank (CDB) is a Multilateral Development Bank [MDB] comprised of

28 members (shareholders) from the Caribbean Region, Europe, North America, South America

and Asia.

Its primary mandate is poverty reduction in the Region and it provides Loans, Grants and Technical

and other assistance to its Borrowing Member Countries (BMCs) that are based in the Caribbean

region. It also acts as an intermediary bank for other MDBs, Governments as well as Executing

Agency and Trust Fund Manager for the benefit of its Member countries with respect to Loans and

Grants.

The Bank does not provide any commercial banking services and has a small portfolio of private

sector lending operations. While the Bank seeks to be profitable on a continuous basis, its mission

is not profit maximization but the reduction of poverty in its member countries.

1.2. Project Objectives

This RFP’s objective is for CDB to identify and select the most appropriate software vendor(s) for its cloud core Banking application requirements.

The Bank desires to obtain financial and operational efficiencies utilising, to the extent possible, a fully integrated and seamless system that provides operational efficiencies and enables the implementation of sound business practices based on timely and accurate information.

The application(s) to be implemented will enable the Bank to:

• Have the most technologically up to date information systems.

• Drive financial, operational, and strategic objectives.

• Facilitate sound decision-making by the provision of timely and accurate financial and operational information.

• Secure the Bank’s information through the implementation of high-quality security features, disaster mitigation systems and procedures.

• Reduce or eliminate superfluous/ redundant processes and to have a user-focused, flexible, accurate system

• Install a system that is robust, flexible, and secure


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1.2.1. Project Background

The current solution was implemented several years ago and does not provide scope for access to a ‘best in class’ Core Banking Solution that is technically and operationally suited to the Bank’s current and future operations and is capable of supporting the Bank’s transformation strategy relating to IT services and support, digitalisation and corporate operations generally.

1.2.2. Current Banking Solution Landscape The current Banking solution system, comprises various modules that support the minimum

requirements for the Bank’s products, structures and interfaces, as follows: -

PRODUCTS

• Loans

o Direct loans to Borrowers – Public sector

o Direct loans to Borrowers – Private Sector

o Loans to Financial and other intermediaries

o Intermediaries/ Executing Agencies for loans from other MDBs, Government

entities and Development Agencies

• Borrowings

o Market Borrowings

o Borrowings from other MDBs

o Borrowings from Government development entities/ Agencies

o Private placements

o Commercial Bank borrowings

o Derivative cash flow computation

• Lines of Credit [LOCs]

o Commercial Bank short term LOCs

o Medium to long term LOCs from other MDBs, Government entities and

Development Agencies for on-lending

• Grants

o Grants from the Bank’s resources for Technical Assistance; Emergency

events; Disaster recovery interventions

o Executing Agency for Grants from other MDBs, Government entities and

Development Agencies to countries and other entities

o Technical Assistance Grants for specific undertakings

o Repayable Contributions [Borrowings for concessionary lending]

o Other non-repayable contributions


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STRUCTURE

o Multi-currency,

o Conversion/ translation to single reporting currency [USD]

o Adaptable to a Flexible Multi-level and flexible account code structure

including

▪ Unit

▪ Tranche

▪ Fund

▪ Fund Group

▪ Consolidated Fund Group

• A reporting system

o Transaction reports –

▪ Month

▪ YTD

▪ Actual vs Budget/ Approved/ Drawdown [Received] amounts

• Reports delivered in various formats – Excel/ PDF etc.

• Dashboards

INTERFACES

The Bank runs various other systems to which the Banking solution is required to interface: -

• Infor SmartStream ERP system

• Bloomberg

• ICE

• IBM Cognos Reporting

• Microsoft PowerBI Report

• Microsoft Dynamics 365

• SWIFT Payments system (Auto Client)

While the provider will not be responsible for creation and maintenance of the interface modules,

support will be required to ensure that data transfer and integrity is maintained in the interface

process

1.2.3. Current Banking Landscape

The Bank is comprised of two Fund Groups which are: -

• The Ordinary Capital Resources [OCR] comprised of banking activities related to Capital

projects, other interventions and core lending business that generates its income and

profits. The OCR is rated by three international credit rating agencies – Standard & Poor’s,

Moody’s and Fitch. Market and major borrowings are backed by the OCR Balance sheet

and performance.

• Special Fund Resources [SFR] which comprise the Special Development Fund Unified -

[SDF(U)], Special Development Fund – Other [SDF(O)] and Other Special Funds [OSF]


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provide Grants, loans on concessionary terms, and technical assistance finance to

member countries. The SFR’s primary activities are centered on meeting the Bank’s

development and poverty reduction mandate.

Additional information on the Bank’s Mandate and Mission, Annual Reports, Publications,

Research studies and other relevant information can be obtained on its website at

www.caribank.org

1.2.4. High-Level Scope

CDB has defined the scope of cloud Banking services as follows: -:

• Maintenance of full suite of relevant financial and other information on its Loans, Borrowings, Grants, and Guarantees including, but not limited to:

• Counterparty details

• Points of contact

• Information such as Approval dates; Agreement dates; Security, (if any); Repayment terms; Guarantor (if applicable); unique reference numbers.

• Originating currency and repayment currency

• Repayment terms including Grace periods

• Conversion/ translation to single reporting currency

• Variable and fixed interest rates, flexible or customisable principal repayment periods

• Fees and commissions including Commitment fees

• Multiple lending products

• Multi-level General Ledger coding system

Currency

Unit

Tranche

Fund

Fund Group

Consolidated Fund Group

• Transaction reversal while maintaining an audit trail

• Ability to generate billings for various loan types and varying repayment intervals at scheduled and unscheduled basis

• Arrears management by Borrower, Fund group, sector, nature of arrears [principal, interest, fees, etc.]

http://www.caribank.org/


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• Staged disbursements of loans and grants

• Guarantee exposure

• Ability to maintain credit ratings from multiple sources by borrower

• Maturity profiles by borrower, Fund, sector, etc.

• Inputs for Expected credit loss [ECL] calculations

• Anti-Money laundering/ Combating the Financing of Terrorism Reporting

• Reporting to be provided in real time in multiple formats by: -

• Counterparty

• Product

• Sector

• Fund Group

• Month and YTD financial information – static and movement reporting

• Actual vs Budget; Approved amounts

• Encumbrances

• Drill down capability

• System with the ability to quickly and efficiently provide new and flexible products services

• Electronic and real time dashboards

• Capability to provide or interface with system that provide BI/ AI type information

• The utilisation of best in class technology

• Cloud based

Records Management

The solution must integrate with and allow the external storage and management of documents in Microsoft SharePoint, hyperlinking to the latest version of documents stored in SharePoint.


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Role-based workflows and Delegation

The solution must integrate with Azure Active Directory to control users, roles and permissions. The solution must allow for multiple layers of authorization of transactions. As an optional feature, delegation could be implemented, so that users that are out-of-office may appoint delegates, with time-based permissions to perform the delegator’s activities in the specified timeframe.

Data Migration

Migration of existing data from data warehouses to the delivered solution.

Client Portal

Designated representatives of loan and grant recipients must be able to log into the Client Portal and be able to review account information such as disbursements, billings statements, and amortization schedules.

Training

Train CDB staff on the use of the delivered solution.

2. About this RFP

This RFP for core banking solution seeks to support the business capabilities identified in Section 1.2.2 It does not include any requirements for implementation services or for ongoing application support and management services (other than vendor-provided software maintenance).or for ongoing application support and management services (other than vendor-provided software maintenance).

Technical requirements

• Cloud based solution

• Software or Platform as a Service (SaaS or PaaS) preferably

• Infrastructure as a Service with Managed Services as a possibility

• Up to date software upgrades and patches

• SLA 99.99% availability

• Disaster Recovery within agreed timelines

• Data residing (geolocation) within CDB member countries1 is preferred

• Support integrations using HTTP APIs, Message protocols

1 Anguilla, Antigua, Bahamas, Barbados, Belize, Brazil, British Virgin Islands, Canada, Cayman


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• Message/data exchange using RESTFUL or SOAP preferred

• Encryption support is a plus

• Integration with Azure Active Directory required

• Multifactor-Authentication is a plus

OTHER

• Sub-contracting, assignment, transfer, or conveyance of the contracted services without the express consent of the Bank is not permitted

• Capability of hosting in locations other than the US if required

3. Invitation to Respond

CDB invites interested parties that meet the qualifications listed in this document to submit proposals regarding their service offerings. All information shall be submitted in the format stipulated in this RFP.

3.1. CDB Contact Person

CDB contact person for submission of this RFP is: Mr. Earl J. Estrado Director (Ag.), Finance and Information Technology Solutions Tel: 1 246 539 1617 / 1622 Mobile: 1 246 826 4110 Email: [email protected] Copied to: Mrs. Faye Hardy, Deputy Director (Ag.) at [email protected] Mr. Julio Cesar Goncalves Lima, Chief Information Officer at [email protected] Mr. Marcelo Lima, IT Officer at [email protected] All inquiries must be directed to the contact person and are subject to the contact provisions elsewhere in this RFP.

3.2. Withdrawal and Modification of Proposals

Respondents may withdraw their proposal and/or submit a revised proposal prior to the response deadline. After the response deadline, no changes will be accepted. Once proposals are submitted, respondents may not withdraw their proposal from consideration.

Islands, China, Colombia, Dominica, Germany, Grenada, Guyana, Haiti, Italy, Jamaica, Mexico, Montserrat, St. Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines, Suriname, Trinidad and Tobago, Turks and Caicos Islands, United Kingdom, Venezuela

mailto:[email protected]





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4. Instructions to Vendors

Vendor proposals in response to this RFP will be accepted by the RFP review team until 4:00 PM (Barbados local time) on October 19, 2020. Submissions must be made electronically in Microsoft Office format.

The proposal should be signed by a person, or persons, duly authorized to bind the vendor to contracts.

All financial information submitted by the vendor will be used for evaluation purposes only and will be held in the strictest confidence.

4.1. Schedule of Events

• RFP released to vendors on September 25, 2020

• Vendor briefing meeting on October 09, 2020

• Requests for clarification period begins on October 12, 2020

• Requests for clarification period ends on October 19, 2020

• RFP responses due on October 26, 2020

• RFP short-listed notification on or before November 23, 2020

• RFP solution presentation on or before December 8, 2020 (6.8. Product Demonstration)

• Negotiations period expected to begin on December 29, 2020

• Final award to vendor(s) expected on or before January 8, 2020

• Project work expected to start on or before March 8, 2021

4.2. Information Pack

CDB is providing the following information pack to vendors:

• This RFP document.

4.3. Vendor Briefing

CDB invites prospective vendors to attend a joint briefing to be held on September 29, 2020 from 1:30 PM to 3:00 PM (Barbados local time) by virtual video conference in Microsoft Teams. This virtual meeting can be joined by accessing the internet link https://teams.microsoft.com/l/meetup-join/19%3ameeting_ZjRiNDVjMTctNjNiNy00Y2FlLTliMTYtMTllMTNlMDA4NTkz%40thread.v2/0?context=%7b%22Tid%22%3a%22be4f7c42-e565-40e6-b81c-fdf01afc920c%22%2c%22Oid%22%3a%221400a99d-f4af-41b5-bc51-35b8d43b4bdc%22%7d


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4.4. Variation or Termination of RFP Process

If this RFP process is varied and/or terminated, the vendors will be notified by Marcelo Lima via email ([email protected]).

4.5. RFP Questions and Clarifications

Vendors shall aggregate their requests for clarification and submit them via email to CDB to [email protected]. Contact should be no later than 4:00 PM (Barbados local time) on October 12, 2020 Such requests for clarification, and CDB's response, will be supplied in writing to all parties that have received copies of the RFP, without identifying the source of the inquiry.

5. RFP Responses

Vendors must address all information specified by this RFP. All questions must be answered completely. CDB reserves the right to verify any information contained in the vendor’s RFP response, and to request additional information after the RFP response have been received.

Marketing brochures included as part of the main body of the bid response shall not be considered. Such material must be submitted only as attachments and must not be used as a substitute for written responses. In case of any conflict between the content in the attachments and a vendor’s answers in the body of the proposal, the latter will prevail.

Any marketing brochures and/or product specifications submitted as part of this response will form part of the contract as evidence of product capabilities.

5.1 Response Format

Vendors must complete the mandatory response document files provided with this RFP in addition, vendors may provide further response information — this must be in Microsoft Office format (for example, Word, Excel, PowerPoint, Project or Visio).

5.1.1 Language and Measurement

CDB requires vendors to respond in English.




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5.1.2 Pricing and Pricing Basis

CDB requires all vendor submissions to quote prices in United States Dollars [USD], the Bank’s operating currency. CDB will not be responsible for any foreign exchange risk to the prospective vendors. Any discount terms offered by a vendor and the terms that the discount is subject to, must be clearly identified.

5.1.3 Payments by CDB

All vendors must clearly state any assumptions and/or requirements relating to the method and time that payments are required to be made for the relevant software and/or services offered in their proposals.

5.2 Covering Letter

The proposal must be accompanied by a covering letter, signed by an individual authorized to bind the proposed entity, with all relevant contact details

5.3 Vendor Profile and Demographics

The vendor shall submit the following information:

• The company’s official name and address and evidence of the entity’s incorporation registration. The vendor shall also indicate the Corporate structure for example, Public, Private, Partnership, etc.

• The name, address, email and telephone number(s) and the official position of the person who receives correspondence and who is authorized to make decisions or represent the vendor.

• The total number of years the vendor has been in business and, if applicable, the number of years under the present business name.

• A description of the vendor’s operations: facilities, business and objectives, and the number of employees.

• A brief summary of vendor’s cloud core financial management applications product portfolio and future product strategy and direction. This should include current market presence and installed base, target industries and geographies, and future strategy for functionality, industry capabilities and geographies.

• A synopsis of customer profiles by size, customer base, number of users, systems in use, technology in use, etc.

5.4. Technical Proposal

The technical proposal has three sections:


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• Section A covers general requirements.

• Section B contains a functional requirements questionnaire.

• Section C contains technical requirements.

5.5. Financial Information

The prospective vendor shall provide a complete set of audited financial statements for the previous three years. All financial statements should be prepared under US GAAP/ IFRSIFRS (International Financial Reporting Standards) other international standard. A link to the relevant area of the prospective vendor’s website would be accepted. The vendor shall also provide a copy of its corporate annual report, if applicable.

Please note that CDB reserves the right to purchase credit reports and additional financial information as it deems necessary.

5.6. Proposal Submission

Vendors' technical proposals should be emailed to the following address: lms-rfp-

[email protected]

Vendors' financial proposals should be emailed to the following address: [email protected]

It is the vendor's responsibility to ensure that the proposal and all other required documents are received at the above address by the closing date specified above.

CDB will be the sole judge of the qualifications of all prospective candidates and reserves the right to reject any and all submissions without recourse.

CDB is aware that information contained in the proposals indicates the vendor's current operations. Therefore, use of this information shall be confined to this request and the information will be treated as confidential.

Vendors shall bear all costs associated with preparing and submitting responses to this RFP and the subsequent evaluation phase. CDB will, in no way, be responsible for these costs, regardless of the conduct or outcome of the bid process.







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6. Proposal Evaluation

The evaluation process will comprise:

• A preliminary examination to determine substantial commercial and technical responsiveness.

• A detailed technical evaluation to determine conformity to general and functional requirements.

• One or more demonstrations to validate conformity to functional requirements.

• Reference visits to selected existing customers of the vendor [if considered necessary and with consideration for due protocol].

After the technical evaluation, CDB will open the financial proposal of the vendor with the highest ranking technical proposal and invite the selected Vendor to negotiations. Should negotiations prove unsuccessful, CDB will proceed to the next highest-ranking Vendor.

6.1. Preliminary Examination

CDB will examine the proposals to determine whether they are complete, that the documents have been properly executed, and that they are generally in order. CDB will notify vendors immediately of any material omissions, incomplete or unclear information and will request rectification within a stipulated time failing which the prospective vendor may be disqualified from the evaluation.

6.2. Detailed Response Examination

CDB will review and evaluate all selected proposals against its own evaluation criteria and scoring mechanisms.

6.3. Detailed Technical Evaluation

An evaluation of proposed products will include an assessment of the viability of those products in the cloud core financial management applications market. These assessments will be based on various criteria such as established installed base, market share and growth trends (for which vendors must provide supporting information).

Evaluation will also include an assessment of the compatibility and ease of integration with existing CDB infrastructure, system environments and business applications and CDB’s transformation strategy.

Technical merits and features will be reviewed against the requirements identified in the General Requirements and Technical Requirements sections of this document.


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6.4. Evaluation Criteria

Evaluation will include not only the formal vendor response, but also information gathered during vendor presentations, meetings, visits, reference checks and demonstrations.

6.5. Presentations and Meetings

CDB will invite each vendor whose response passes the preliminary examination to present its response to the evaluation team. The evaluation team will expect to be able to ask detailed questions based upon both the response and the presentation. Presentations may be undertaken virtually or in person, by mutual agreement.

6.6. Clarifications

Further meetings will be set up to explore specific areas of the response as deemed necessary by CDB for clarification. Vendors are expected to comply with these meeting requests within the time frame stipulated. Vendors may be requested to confirm these clarifications in writing by submitting a revision/explanation of their initial response.

6.7. References

The vendor should provide the details of two to four customers for reference. Operations of the References should be substantively similar to CDB requirements. References should include information about the contract (specific products in use, date of contract execution, “go live” date and any services provided), plus contact information for the client’s project manager or other senior staff members familiar with the project. CDB reserves the right to contact these references directly and discuss the client’s level of satisfaction with the vendor and its products.

6.8. Product Demonstrations

Following the detailed technical evaluation phase, prospective vendors will be required to demonstrate their application using CDB’s actual data and personnel, where appropriate at a mutually agreed time and place.

6.8.1. Logistics

All prospective vendors will be given detailed requirements for the demonstrations. These will be in the form of scripted scenarios focusing on the differentiating and/or complex requirements of CDB. Instructions for demonstrating fit to functional requirements will be provided in writing at that time. CDB will have a key contact for any questions relating to the demonstration phase. Contact information can be found in the Proposal Submission section of this document.

All costs associated with these demonstrations are the responsibility of the vendor. CDB will provide instructions to selected vendors a minimum of seven working days prior to the scheduled demonstration.


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7. RFP Response Selection 7.1. Offer Period of a Response

The offer made by a prospective vendor must be valid for four months from the date of notification of the award.

7.2. Notification of Award

CDB will, where it deems this necessary, award the cloud banking solution application software purchase contract to one or more vendors to satisfy its project scope. After the contract has been awarded, CDB will notify the unsuccessful vendors.

7.3. Debriefing of Respondents

CDB may, at its sole discretion, offer to debrief unsuccessful vendors.

7.4. Treatment of Information

All non-public information provided by CDB provided during the RFP process should be considered confidential and cannot be released without its express written permission.

TECHNICAL PROPOSAL

Section A — General Requirements

CDB Environment

Description of Cloud Core Financial Management Strategy and Project Objectives

Instruction: The solution is expected to provide the capacity to manage current and future needs of the bank and must be able to manage loans, borrowings and grants in various currencies with flexibility to approve, manage authorised disbursement payment instructions and repayment of borrowings in different currencies and tranches. The current portfolio is comprised of approximately 600 loans, 2,000 grants and 50 borrowing accounts.

Preferred Application Deployment and Licensing Model

Current Financial Management Systems Environment

Instruction: The Bank currently utilizes a solution which interfaces with


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Infor SmartStream ERP system

Bloomberg Microsoft SQL Server Reporting Services•

Microsoft PowerBI Report

Dynamics 365 Sales Enterprise

SWIFT Payment system (Auto Client)IFRS9 (Oracle)

While the provider will not be responsible for creation and maintenance of the interface modules, support will be required to ensure that data transfer and integrity is maintained in the interface process

Cloud Core Financial Management Systems Project Implementation Timeline

Instruction: The proposed completion date for each stage is as follows:

Project launch – March 8, 2021

Requirements Gathering/Banking Setup– May 10, 2021

Configuration/Portfolio Balance Migration – October 4, 2021

Testing and Validation – November 1, 2021

Final Portfolio Balance Migration – December 6, 2021

Go Live – January 3, 2022

VENDOR RESPONSE

Based upon the information provided in Section A, vendors should provide responses to this section as follows:

Ability to Meet CDB’s Cloud Core Financial Management System Objectives

Vendor should describe its ability to meet CDB’s objectives.

Ability to Meet Requirements of Project Timeline

Vendor should describe its ability to meet CDB’s cloud core financial management systems project timelines and milestones.

Section B — Business Requirements

Questionnaire on the Functional Requirements of the Application

This questionnaire will be used to determine the fit of the vendor’s proposed solution(s) to CDB’s functional requirements. It is imperative that vendors answer the questions in accordance with the guidelines provided below. Failure to do so may lead to disqualification. Vendors’ responses shall be validated during the product demonstrations. It is also assumed that the vendor will provide full proof of the capabilities declared in its response to the questionnaire.


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Failure by a vendor to provide honest responses will be grounds for disqualification from the RFP process.

In the Functional Requirements section, vendors can choose from five options to indicate their compliance with each requirement (see Table 1).

Table 1. Vendor Capabilities Declared

Option Capabilities

0 Functionality not provided

1 Functionality provided; requires customized integration with third-party solution

2 Functionality provided by the vendor, but requires customization or PaaS (platform as a service) extension

3 Functionality provided seamlessly by third-party solution

4 Functionality provided as standard/out of the box

When giving responses, the guidelines below should be followed. The comments column is provided for clarification, when necessary.

Vendors are cautioned not to indicate functionality as “included in standard offering” when, in fact, that particular feature is in development. When that is the case, vendors should note it in the comments column of the questionnaire and indicate the expected date that such a feature will be made available.

1. Functionality not provided: Not included in the proposed application.

2. Functionality provided; requires customized integration with third-party solution: Vendor has established a relationship with a business partner to provide this functionality, but it needs customizing or working around in order to be deployed as an integrated solution.

3. Functionality provided by the vendor but requires customization or PaaS extension: The functionality can be accomplished with the vendor’s products, but some customizing or working around is required. For cloud core financial management applications (and which therefore cannot be customized), the functionality would be provided by building an extension using platform as a service (PaaS) capability provided either by the vendor or a third party.

4. Functionality provided seamlessly by third-party solution: The vendor has established a relationship with a business partner (for example, as an OEM) to provide this functionality. This functionality is fully integrated (data, process, application) with the proposed solution and requires limited configuration and/or integration development.

5. Functionality provided as standard/out of the box: The vendor provides the functionality from its own code base. No customizing or working around is required. Some configuration may be required, but this should not be significant or complex, should not add significantly to the implementation timescales, and should not affect future upgrades. For example, using configuration capabilities and reporting tools to support country-specific sales/use taxes should not be deemed “functionality provided as standard.” Instead, this would be “functionality provided by the vendor, but requires customization or PaaS extension.”


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VENDOR RESPONSE

Description of Solution and Pricing

Based on the requirements contained in this document, please provide a general description of your proposed solution for CDB’s requirements.

Please itemize and describe all hardware, software and service components required — including ongoing maintenance — with associated prices. This should include pricing terms for future expansion of the solution, for example, purchasing additional functionality and/or user licenses.

Product Capabilities and Functions

In addition to the requirements stated above, please detail any other product capabilities and functions that may be of interest to CDB.

General Comments

Vendors should include any additional information that they feel would help CDB evaluate their submission.

Section C — Technical Requirements

VENDOR RESPONSE

Product and Service History

Vendors should describe the history of their cloud core financial management application offerings. This should include initial release date, current version number and current version release date and application development history (that is, if the offerings were developed as a marketable package or as a solution for a particular organization).

Vendors should indicate how many live customers use the proposed application and delivery mode.

Vendors shall provide information on product development roadmap for cloud core financial management applications.

Vendors should provide a list of any user associations or public discussion areas relating to vendors’ product or service offerings.

Product Support and Service Warranty

Vendors should describe the technical and service support offerings and delivery mechanism available for their applications and associated products. In addition, they should provide a copy and description of all warranties associated with the proposed application.

Product Upgrades and New Version Releases

Vendors should describe:

6. The process of latest version releases and the application of service packs to the application product(s). Specify the number of releases per annum and the period within which users must adopt each release.


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7. The quality assurance/testing processes that are followed to determine whether an upgrade is suitable for release.

8. The process by which opportunities for system enhancements are identified, screened, programmed, field tested and released to customers.

9. Whether the upgrade methodology includes a tracking system to both report on the status of the upgrade and record problems and bugs.

10. The costs involved in the upgrades.

Data Center Locations and Ownership

Vendors should identify the locations of data centers from which the service is managed, and the ownership of such data centers (if different from vendor). If third-party public cloud infrastructure as a service (IaaS) provider is used, name the vendors and describe the nature of the relationship.

SLAs and Disaster Recovery Plans

Vendors should provide details of their service-level agreements (SLAs), including system availability, system response times, and support ticket resolution times. They should also provide a documented copy of their disaster recovery plans, including target periods for recovery point objective (RPO) and recovery time objective (RTO).

Data Archiving Capabilities

Vendors should describe tools and processes for archiving historical data from the solution.

Training

Vendors should describe what level of training is recommended for CDB staff to support the implementation of products and services and on an ongoing basis base upon experience.

Ability to Support CDB Master Data Requirements

Vendors should describe their ability to support the master data creation, maintenance and management requirements of CDB. (CDB Cloud Vendor Questionnaire)

Ability to Support the Application Integration Requirements of CDB

Vendors should describe their ability to support and integrate with CDB’s primary data sources, targets, applications and other interface points.

Vendors should describe how their own solutions integrate with each other and outline their overall postmodern application integration strategy, in respect of their own solutions, any ecosystem partner solutions, and any independent third-party solutions. Specifically, vendors should detail by process areas (and/or solutions) the integration mode. (Integrations list)

Ability to Integrate with CDB’s Infrastructure and Standards

Vendors should describe their ability to support and integrate with CDB’s current infrastructure and standards. Describe any integration tools or capabilities provided as part of the solution. The vendor should identify if it has integration platform as a service (iPaaS) capability as part of its offering, or


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if it partners with a third-party iPaaS provider, to provide capabilities to extend the functionality of the solution. (CDB Cloud Vendor Questionnaire)


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Appendix 1 – RFP Response Format

To ensure that all proposals are evaluated in an equivalent fashion, each vendor must submit a proposal that corresponds to the sequence and format of this Section. Vendor’s responses should be carefully considered, as they are critical to the evaluation process. While CDB appreciates a concise, straightforward reply, the vendor must understand that its response to each item below will be the basis for CDB’s understanding and evaluation of the proposal. The vendor should ensure that its proposal clearly explains all issues addressed in this Section. Marketing brochures provided in response to specific questions shall be considered non-responsive.

Section Item Description Limit

1.

Executive Summary Standard Two (2) pages

2.

Vendor Information Company background, years your firm has been providing a Banking solution as outlined in this RFP, size of software implementation practice, relevant certifications and awards, etc.

Three (3) pages

2.1 What other products or services does your company focus on in addition to a Banking solution?

2.2

What sets your product or service apart from your competition? What are the benefits of using your solution?

2.3 Describe any potential or ongoing related intellectual property disputes and lawsuits including copyright, trademark, and patent.


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2.4 Provide for each of the last three years one copy of your company's Annual Reports or, if your company is privately held, one copy of the organization's complete audited financial statements for the same period with the auditor opinion included

Separate documents

2.5 Provide copies of your organizational documents

2.6 Provide a statement that your company has more than one customer and that not more than 25% of your total revenue would generally be derived from Bank contracts.

3. Mandatory Solution Criteria The Banking solution MUST have the capability to provide the following functionality at a minimum. If Vendor’s proposed solution does not meet ALL these criteria, their solution will not be considered further. Vendors shall indicate if the below criteria are met “out-of-the-box” or with Customization

3.1 Ability to create new Loans inside the system through API (Application Programming Interface).

3.2 Ability to expose Loan life-cycle management operations through API.

3.3 Ability to export data related to the Loans and other financial products through API’s.


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3.4 Ability to manage loans in multiple currencies with flexibility to approve, disburse and repay in different currencies.

3.5 Ability to maintain multiple tranches (part or piece of loan) with each tranche having its own financial terms and interest types.

3.6 Ability to capture multiple components of an interest rate such as base, spread, margin, cost of borrowing, indices and calculate the all-in rate

3.7 Ability to configure user roles to enforce Segregation of Duties on individual transactions to comply with the Bank's internal control regulations.

3.8 Ability to apply prior period adjustments for changes in interest rates and other calculated fees in current period.

3.9 Ability to configure 2-step Authorizations on individual transactions to comply with the Bank's internal control regulations and implementation of COSO standards

3.10 Ability to log and view complete audit trails on events and changes at the loan and transaction level


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3.11 Ability to reverse transactions while maintaining an audit trail and tracking posting dates and value dates

4. Similar Program Experience Ten (10) pages

4.1 Similar Program Description Description of similar projects (ideally of equivalent size and scope, of multi-lateral banks and international development organizations) where you acted as prime or other contractor and projects where you were responsible for partial scope of the implementation.

At least three (3) cases

4.2 Cost and Schedule Information for Similar Projects

Projected cost and schedule versus actual cost and schedule of the projects

4.3 Systems Landscape Systems overview

4.4 Customers How many customers have implemented the solution being proposed? Provide breakdown by region, US, Latin America, Europe, etc.

5. Vendor’s Key Assumptions and Dependencies

Key assumptions for the proposal

Ten (10) pages

6 Technical Infrastructure, Maintenance, and Updates

Please address the points below:

Ten (10) pages

6.1 If proposing a cloud-based solution, Vendors must now complete the Cloud Assessment Questionnaire (Appendix 3)

6.2 Provide the architecture and technology infrastructure of the solution. Attach a diagram of your application architecture

6.3 Describe your product offering environment (on-premises, SaaS (software as a service), etc.) If you offer the ability to host the environment or deploy it on the client’s infrastructure, which


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do you recommend? Explain the rationale of your recommendation.

6.4 Provide the architectural recommendation for disaster recovery of your solution assuming an RTO (Recovery Time Objective) of 8 hours and a RPO (Recovery Point Objective) of beginning of the current workday

6.5 Explain if your solution is solely web based and/or if it has components that need specific software installed or running on the client for application use, administration, maintenance and reporting?

6.6 If your solution has any web-based components, please provide a list of all browsers and their minimum versions supported and plugins or external components required.

6.7 Please describe your solution’s capabilities to integrate with Microsoft PowerBI and IBM Cognos Report.

6.8 Does your solution integrate with Smartstream finance module? Please describe how this integration is performed (e.g., direct connectors, third-party, etc.) and its requirements.

6.9 Identify any third-party technology components used in your solution such as application servers, search engines, report writers and integration servers. Are these third-party technology components licensed as part of your standard solution or is it required to license them directly from the third-party technology provider?

6.10 How many simultaneous users can the application support effectively under what infrastructure assumptions?

6.11 Please describe your data archiving methodology process.

6.12 Is your application intended to be used ‘as-is’ straight out of the box, with minimal customization (for example, by specifying variables), with considerable customization (for example, by specifying all data fields) or with maximum customization?

6.13 How does your company protect the investment made by a client in tailoring your application, when the base product is upgraded? Please explain the application upgrade process work when customizations have been done to the systems?


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6.14 Do you outsource key components of your solution (e.g. hosting, application development etc.)?

Describe clearly the deployment model (for example “multitenant software as a service,” “single tenant software as a service,” “private managed cloud,” and others). Also include a licensing model (for example, “per employee subscription licensing” or “revenue metric licensing”).

6.15 What is your policy on working with add-on vendor services? If you use add-on vendors, how do you decide on which vendors to use? What are the implications of using add-on vendor services to the support of your product? Please list all vendors providing add-on services.

6.16 Explain the degree of configuration capability available to the client to adjust functionality and setting etc.

6.17 Provide details concerning how your solution supports load balancing and overall application performance.

6.18 Are there any software or hardware components required to load/have to support this product (such as, applets, plug-ins or any mobile code on the desktop)?

6.19 Describe your company’s Change Management Methodology including deployment of new releases, management of existing user requested changes and inclusion of new change requests. Include sample documentation or forms used for change requests, enhancements etc.

6.20 Please describe your application upgrade/maintenance assumptions and corporate support guidelines of legacy versions. Please also include your roadmap for future upgrades.

7 Security Three (3) pages

7.1 Describe the security features within the solution, with specific reference to procedures to establish unique user IDs and available authentication methods.

7.2 Describe how your solution supports role-based functionality?


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7.3 Describe how your solution supports segregation of duties in the application use, security administration, and application maintenance.

7.4 Please describe your solution’s auditing and tracking functionality.

7.5 Does your solution integrate with Active Directory, Azure Active Directory, and Active Directory Federation Services (ADFS)? If so, how?

7.6 Describe data protections (when data is at rest or moved) used to secure your application such as HTTPS and Data Encryption etc.

7.7 Describe how your solution supports the usage of Multi-Factor-Authentication

8 Integration Three (3) pages

8.1 Does your solution enable all documents to be seamlessly integrated into a corporate document management system or does it make use of its own proprietary document management system?

8.2 Please provide details regarding the proposed application’s compliance with EDI and/or XML or JSON standards for exchanging data electronically.

8.3 Please describe various data exchange mechanisms for your system to integrate with other applications (FTP/SFTP, APIs (Application programming interfaces), SOAP and/or RESTful web services, etc.) along with each respective supported data format (CSV, XML, JSON, etc..). Also describe the mechanisms that enables the CDB to move data inside our Data Warehouse

8.4 Please describe your solution’s capabilities and how you integrate with Office 365.

8.5 Please describe your products email notification.

8.6 Please describe your solution’s capabilities for job scheduling and ability to integrate with third party scheduling tools such as BMC control-M (Batch Management Control).


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8.7 Please describe your solution’s capabilities and how you integrate with SharePoint

8.8 Please describe your solution’s capabilities to communicate with the Swift and SWIFT gpi.

8.9 Please describe your solution’s capabilities to ingest data coming from external data sources.

8.10 Please describe your solution’s capabilities to call externals webhook and the data or events that can be sent through these calls

8.11 Please describe your solution’s capabilities to expose its internal database.

9 User Interface and Reporting Three (3) pages

9.1 Please specify how your solution supports multiple languages and international characters.

9.2 Please explain the reporting approach for your solution.

9.3 What tools do you use to provide the end-user with the ability to perform ad-hoc database queries and reporting? Can the queries’ result set be exported for further analysis outside of your proposed solution?

9.4 Please provide a list of the standard reports produced by your solution.

9.5 Please describe your on-line help capabilities and out of the box help data provided. Do you provide both procedural and functional reference information accessible within the application?

9.6 Does your solution provide breadcrumbs notating the stage within an application process?

9.7 Does your solution provide portal capabilities for dashboard reporting? Can the reports’ underlying data be exported for further analysis outside of your proposed solution?


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9.8 Does your solution provide the capabilities to import external dashboards inside the portal?

10. Vendor’s Proposed Timeframe/Project Plan

The Bank invites Vendors to propose schedules for implementation that are fast-track, realistic, and provide adequate risk management and quality assurance. Schedules should assume a project start date as early as possible in late Q1-2021.

Ten (10) pages

10.1 Work Plan The project plan should tie to the pricing

10.2 Quick Wins List and describe proposed quick wins with timeframe

10.3 Modules and Functionalities Included

If multiple phases, list of Banking solution modules and functionalities included in each phase.

12. Deliverables Features that will be implemented/delivered.

13. Proposed Implementation

13.1 Methodology Description of methodology used number of similar projects where it was applied.

Ten (10) pages

13.2 Tools for implementation

Description of tools that will be used in the implementation.

13.3 Summary of Recommended Hardware

List of hardware recommended for the system solution

13.4 Data cleansing and conversion Description of approach, roles and tools for data cleansing, conversion and migration from other systems.


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13.5 Treatment of In-flight Transactions

Please describe the proposed approach for dealing with in-flight transactions for the go-live of the solution. In flight transactions include ______________.

13.6 Reporting and Business Intelligence

Description of the approach that the Vendor will use for reporting and business intelligence

13.7 System and Program Documentation

Description of the documentation that the Vendor will provide as part of the solution

13.8 Knowledge/Skills Transfer Description of the approach that the Vendor will use for the transfer of knowledge and skills to CDB personnel

13.9 System Deployment Description of the proposed deployment plan

13.10 Backup and Recovery Description of the approach to help CDB develop a backup and recovery strategy for the solution

13.11 Change Management Ten (10) pages

13.12 Change Management Approach

Description of the approach that the Vendor will use for change management

13.13 Training Plan Description of the proposed training plan

13.14 Transition Plan Describe a proposed transition plan from the “as is” environment and business processes to the proposed solution and new business processes.


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13.15 Key Assumptions Description of key assumptions and critical success factors for change management.

13.16 Tools and Methods Description of tools and methods that will be used for change management.

13.17 Envisioning Describe the visualization and envisioning techniques and tools that will be used for business process owners during early phases of the project.

13.18 Testing Describe validation and test plans provided during installation, implementation and upgrades, as part of your System Change Management Methodology

13.19 Project Management Ten (10) pages

13.20 Project Management Approach

Description of the approach that the Vendor will use to manage its portion of the scope of the Program

13.21 Project Management Services Description of services provided as part of the project management activities

13.22 Risk Management Description of risk management approach that will be used by the Vendor

13.23 Project Scope Change Plan Description of scope management approach that will be used by the Vendor

14. Cost and People Plan N.A.

14.1 Total Cost of Ownership


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14.2 Assumptions List and describe all assumptions

14.3 List of Inclusions List and describe all inclusions in the TCO

14.4 List of Exclusions List and describe all exclusions in the TCO

14.5 Licensing Explain type of licenses and cost of upgrades

14.6 Pricing Describe the pricing of the project.

14.7 Price Quote Sensitivity Describe the levers and or tradeoffs that may affect timeline, CDB staffing, scope, and cost. Indicate their relative sensitivity (e.g. if x% less CDB staff then y% more cost).

14.8 Risk/Reward Mechanism Propose a risk/reward mechanism that ensures the Vendor has significant incentive to meet costs and schedule as proposed

14.9 Proposed Project Organization Staffing plan and organizational chart.

14.20 Project Team Resumes Vendors may include the project team resumes in their own standard, but these MUST include certifications, durations, projects, roles and a summary of activities performed

15. Key Contractual Terms Please provide any Terms and Conditions specific to the implementation of this RFP’s scope. Such terms are tendered for purposes of negotiations only. Attachments of Vendor’s standard/general Terms and Conditions for implementation

N.A.


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services will be considered as non-responsive. Separate Software Licensing Agreements or Master Service Agreements appropriately tweaked to the implementation of this RFP’s scope will be considered.

16. Other important considerations

Any additional considerations not covered in previous sections of the proposal

N.A.


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Appendix 2 – Some Features of CDB’s Standard Terms and Conditions

Vendors shall in the minimum sign up to CDB’s terms and conditions or any part thereof during or post evaluation of bids. Such terms may include but not limited to the following:

(1) Compliance with CDB’s integrity principles during and post the procurement

process. An explanation of the principle is provided below:

(a) integrity: The principle of integrity refers to CDB financing being used for

its intended purposes and requires that all parties involved in the

procurement process observe the highest standards of integrity and ethics

during the procurement and execution of CDB financed contracts, and

refrain from Prohibited Practices. The term Prohibited Practices includes

the following practices defined below:

(i) “corrupt practice” is the offering, giving, receiving, or soliciting,

directly or indirectly, of anything of value to influence improperly

the action of another party;

(ii) “fraudulent practice” is any act or omission, including a

misrepresentation, that knowingly or recklessly misleads, or

attempts to mislead, a party to obtain a financial or other benefit

or to avoid an obligation;

(iii) “collusive practice” is an arrangement between two or more

parties designed to achieve an improper purpose, including

influencing improperly the actions of another party;

(iv) “coercive practice” is impairing or harming, or threatening to impair

or harm, directly or indirectly, any party, or the property of the

party, to influence improperly the actions of a party; and

(v) “obstructive practice” is:

(aa) deliberately destroying, falsifying, altering, or concealing

of evidence related to an investigation or making false statements or false allegation to CDB in order to impede a CDB investigation into allegations of an integrity violation particularly Prohibited Practices; and/or threatening, harassing, or intimidating any party to delay or prevent it from sharing evidence or disclosing its knowledge of matters relevant to the investigation or from pursuing the investigation; or

(bb) acts which impede the exercise of CDB’s access,

inspection and audit rights.


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(2) Acceptance of CDB’s immunity granted to CDB under the Agreement Establishing

the Caribbean Development Bank in similar or identical terms set out in sub-

paragraphs (a) and (b) below:

(a) CDB shall not submit itself to the jurisdiction of any court.

(b) Nothing contained in the prospective agreement or the UNCITRAL

Arbitration Rules referred to in paragraph (4)(b) below shall be construed

as a waiver of the immunity of the CDB and its property and assets under

its Charter, international convention or customary international law from all

legal process, and forms of seizure, attachment or execution before the

delivery of a final judgment against the Bank.

(3) Compliance with CDB’s confidentiality requirement by undertaking to sign a

Confidentiality Agreement or a Non-Disclosure Agreement intended to protect the

parties’ confidential information.

(4) Using alternative dispute resolution mechanisms, particularly mediation and

arbitration to resolve all disputes that the parties shall not have settled amicably.

The minimum requirement for a dispute resolution clause appears below:

(a) mediation: any dispute arising out of or in connection with this contract,

including any question regarding its existence, validity or termination,

which shall not have been resolved by amicable settlement between the

parties, shall be referred to mediation in accordance with the London Court

of International Arbitration (LCIA) Rules, which Rules are herein

incorporated into this contract, subject to the following amendments or

additions; and

(b) any dispute between the parties which shall not have been settled by

agreement or mediation between the Parties shall be referred to arbitration

by either Party. If within thirty (30) days after the request for arbitration the

Parties shall fail to agree on who shall be the Arbitrator, the Arbitrator shall

be appointed at the request of either Party by the Secretary-General of the

Organization of American States. If within forty-five (45) days after

becoming entitled to do so neither Party requests the appointment of an

Arbitrator, the arbitration proceeding shall be deemed to have been

abandoned. Subject to the amendment stated herein, the arbitration

proceedings shall be conducted in English and in accordance with the

United Nations Commission for International Trade Law (UNCITRAL)

Arbitration Rules. The seat of arbitration shall be Barbados. No Party shall

be authorized to seek from any judicial authority any interim measures of

protection or pre-arbitral award relief. The arbitration proceedings,

including all oral and documentary evidence submitted or exchanged

within the proceedings, shall be kept confidential. The decision of the

Arbitrator shall be final and binding upon the Parties. The Parties shall fix

the amount of the remuneration of the Arbitrator and each shall defray its

own expenses in the arbitration proceedings. The Arbitrator’s fees and


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related costs shall be borne equally by the Parties. The Arbitrator shall

have no power to make a costs order or award any punitive or exemplary

damages against either Party.

(5) The provision of a warranty that vendors shall demonstrate due diligence in

carrying out the services under any agreement with CDB and any product or

software supplied under the agreement shall be without defect as to function or

design.

(6) The provision of performance bonds, where required.

(7) The Acceptance that all reports, working papers, notes, maps, drawings, plans,

specifications, statistics and technical data, compiled or prepared in carrying out

the services shall be drawn up in the English Language and shall be the property

of the Bank.

(8) A recognition that any software, goods or equipment (together, Equipment)

supplied under the agreement shall be fit for the purpose CDB acquired the

Equipment and would have communicated to the vendor.

Appendix 3 – CDB Cloud Vendor Questionnaire

CDB Cloud Vendor Questionnaire

https://tablestoragecdb.blob.core.windows.net/rfp/CDB%20Cloud%20Vendor%20Questionnaire.pdf

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