Predict your projects results and create business value
We deliver consistent, predictable results and boost productivity with deeper domain knowledge
Business Analysis
Understanding clients’ needs and objectives is the first step to developing and delivering solutions with strong business value. It enables you customize your services to enhance their processes, propel innovation and introduce changes that drive business growth in future. Each client has a unique set of goals, finances and challenges, and it is important for you to develop a thorough understanding of these factors.
Traditional project management approaches which view projects as independent entities provide flexibility of vision, it also risks diverging too far from the stated goals of the organization. Proper insight into the requirements provide business alignment necessary to facilitate project success.
As a reputable provider of high-end IT services for the banking sector, Verinite helps financial institutions embrace digital across the spectrum. With deep knowledge of the banking domain, the innumerable solutions around, and a vision based on a strong value system, we can help you achieve the expected outcomes in the projects as diverse as Cards launch, Cards migration/upgrade, Switching system migrations, Lending system implementations and migrations, and similar other Turn-key initiatives.
Our services are geared towards alleviating your pain points related to business analysis. In light of your needs and objectives, we analyse your existing IT infrastructure and identify the optimal solutions. Armed with a team of qualified and seasoned analysts, we have the ability to serve large, medium or small sized banks.
Typical challenges
Usual issues that banks confront with regards to business analysis are
Unclear requirements
Natural ambiguity of verbal discussions, missing information, and ambiguous/incomplete requirements end up in project delays and budget overruns.
Conflicting requirements
Banks come across conflicting requirements in different shapes, contexts and levels of seriousness during the process of analysis.
Changing requirements
Unexpected change requests have the potential to bring the project to a standstill and bringing down the morale of the entire team.
Domain knowledge
Few people around have adequate knowledge of implementation of IT solutions in the banking domain, particularly cards launch and migration.
Uncooperative stakeholders
Effectively managing stakeholders, often trying to pull the project in diverse directions or simply not cooperating, is a major challenge.
Our USP
Industry Specialization
Deep knowledge of banking domain differentiates us from competitors. Well-versed in intra-bank processes and key banking systems, our experts are capable of exploring your specific requirements and the solutions available around. We have extensive expertise and experience in Cards Launch, Cards Migration, Cards Upgrade, and LOS/LMS Migration. Working closely with banking managers and other finance professionals, our experts conduct detailed business analysis to ensure the selection and implementation of the right solutions.
Methods & Assets
Support for New Card Launch:
- Application (e.g. V+, Prime, PowerCard, etc.) specific Product setup guidelines
- Accounting setup guidelines and templates
- Channels integration guidelines
- Standard business reports templates
- New digital channels requirement template
- SOP templates
- Reconciliation templates
Support for Data Migration:
- Application specific Data Mapping
- Data reconciliation templates and application specific scripts
- Data migration strategy templates and best practices
Support for Digital transformation:
- Digital channels strategy templates and best practices
- System evaluation pack for Core products and channels
- Process Discovery, Process Automation and optimisation templates
- Best practices and guidelines for improving digital presence, improve customer acquisition & improve customer retention
Versatility
Blend of technological knowledge with organizational prowess and communication skills provides our professionals the versatility to work with aplomb in business analysis. Not only are they able to understand the technical content of the project, but also take into account other aspects of the job such as planning, scheduling, execution, budget, maintenance, and more. They collaborate with engineering team to transform client requirements into a system design.
Our service offering:
Business Analysis
To ensure full-fledged success, we put in place clearly defined and consistent objective-setting processes that lead to desired outcomes. Some of the primary tasks our project team performs include eliciting, collecting, documenting, and analysing requirements. Finding a solution involves identifying the challenges, understanding the components of the possible solutions, determining the most precise one, and executing the changes whenever required. In case of requirement gaps, our team works in close collaboration with dev and test teams.
Technical SME Support
When analysing requirements, our team factors in aspects like performance, reliability, and availability. We define the solution, comprehend its various components, and ascertain the standards it must meet. The next step is to develop and integrate the technical solution and provide application-specific support for technical issues and queries.
Functional SME Support
Our team analyses how you want the functionality to work and find a solution which is the closest to your requirements. If the solution needs to be customized or a component of it needs fixing, we raise issues with application vendor. Seasoned experts with us review parameter configuration of the solution and optimizes it for your specific needs. We also work with test team closely to ensure the solution is at its optimal best.
