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Upgrading a core banking platform is essential for the banking and financial institutions to stay ahead, effectively manage growth, scale up operations and improve customer satisfaction. At the same time, it is important to ensure that the benefits of the upgrade outweigh the cost and the risk. JMR Infotech has extensive experience in upgrading clients to newer versions of FLEXCUBE. Our extensive experience results in well planned, timely and efficient upgrades. Banks may face multiple challenges while pursuing an upgrade. A few of them are listed below:

  • Lack of internal availability of subject matter expertise in identifying the features offered by the newer version of the application and matching them against user expectations
  • Lack of experienced project managers to run the upgrade project
  • Missing comprehensive project requirements on the customization front
  • Additional scope creeps in due to lack of proper scope definitionUpgrade Services
  • QA team has general IT background and may not have experience of the banking environment and applications
  • No thorough end-user training to familiarize them with the application level changes on the newer versions, resulting in usage problems and inability to get the maximum value out of the product
  • Huge upgradation cost, cost overruns and project delays. Inability to challenge estimation of the product vendor, shortening the project duration and reducing cost
  • Unrealistic timelines
  • Losing competitive advantage by delays in keeping the product up-to-date

To address these challenges, we have devised an engagement model which helps banks and financial institutions to set up an extended arm of their own Core Banking Application Implementation and Support Unit with enhanced quality of support at an extremely reasonable cost. Our unique ‘Extended Arm’ engagement model brings in the best of in sourcing and outsourcing and negates the disadvantages of both. We think, plan and execute along and on behalf of the bank bringing in utmost value and flexibility through our engagement. We undertake entire end-to-end turnkey implementation assignments by working as bank’s Extended Arm, thereby overcoming these challenges.Upgrade Services

Execution Summary

  • Project planning – Project Team Organization, Definition of roles/responsibilities, Communication plan, Escalation mechanism and Status reporting
  • Environment setup – Preparation of the environments for migration, development, System Integration Testing (SIT), User Acceptance Test (UAT) and Production
  • Parameterization– System/Business parameters definition
  • Customization Release – Approach document, FS/DS documentation, Change management, version control, help files, installation guides and user manuals
  • Testing – Assistance in SIT/UAT plan preparation and review, SIT/UAT execution,Incidence reports and change management
  • Upgradation/Migration – Building of Bank specific upgradation strategy, Migration of ELCM and CL modules, Mock migrations and upgradation
  • Go Live – Production environment setup, Final upgradation and verification, Live cut-over
  • Formulation of IT processes – Standards and Procedures documentation, IT security policy documentation, System administration documentation
  • Post live Support – Consolidation of outstanding issues and future plan of action, Post-upgradation review, Preparation of Handover document, Addressing day today issues

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