Core Banking

Ovations offers a core banking advisory service in partnership with the international banking software vendor, Misys.

The scope of the partnership includes the implementation of various Misys products in the retail and commercial banking space, underpinned by their new process-driven and services-oriented platform, BankFusion™.

Our Approach

As sustainable business improvement is our primary objective at Ovations, we ensure that any core banking transformation journey is aligned with your business strategy, provides real business value, minimises the disruption to your business and provides you with the flexibility and support you need going forward.

We see people, process and technology as key to a successful core banking initiative and continuously optimise and align these through a governance process to drive operational efficiencies as part of an integrated solution.

We take an incremental approach to core banking transformation, and provide different journeys to achieve your strategic objectives; including core system replacements, a revitalisation of legacy systems, or an expansion to support new products or services.

From a technology perspective, our partnership with Misys will provide you with a banking platform that is leading the industry move to component-based and service-oriented core banking solutions.
Our engagements are guided by a proven methodology, adapted to provide guidance in critical areas such as benefits tracking, governance and people change management.

Our Offerings

Areas of expertise:

Capability and environment assessments
Transformation roadmap definition
Operating model design
Solution architecture
Business process design and modelling
Business service and business rule design
Package configuration
System integration
Testing
Training

Benefits

The benefits of a successful core banking transformation journey could include:

Rationalised application portfolio
Ability to involve business users in core development
Ability to change business processes quickly
Faster time-to-market for new products
Improved real-time capabilities
Improved cross-selling capabilities
Improved operational efficiency
Improved customer service
Reduced IT development and maintenance costs
Reduced IT platform costs
Increased profit performance

Our Work

Our team of highly qualified and certified consultants has gained extensive experience within the banking sector, both locally and in Africa. Our customers include:

Barclays Emerging Markets
ABSA and ABSA Africa
Standard Bank and Stanbic Africa

Frequently Asked Questions

What is a core banking system?

A core banking system is the main source of customer and account information for both deposits and loans held with retail and commercial banks. It is a back-end transaction engine that processes daily banking transactions and posts updates to accounts with an interface to the bank’s general ledger.

What is a treasury and trade core system?

A treasury and trade core system is the main transactional system for treasury and trading market operations. It manages a company’s position in one or more asset classes. It is also the source of record for financial transactions from trade to settlement.
Source: Gartner

What is Misys BankFusion?

Misys BankFusion is a core banking platform, designed so that banking applications can be built from common components and services using the BankFusion workbench, as well as offering a complete renovation solution for customers needing to upgrade their existing core banking platform.

It incorporates a set of common services packaged to deliver specific business functionality that are designed to promote reuse across different shared modules – bringing the advantages of SOA based, JEE enterprise architecture to the banking sector.
Source: Misys