TCS BaNCS Customer Newsletter TCS BaNCS #30 (October 2018) | Page 13

Stakeholder-centric implementation Euroclear Finland’s legacy IT architecture, with its dual settlement systems, permitted a phased approach to replacement – first, fixed income and Throughout the project, Euroclear Finland money markets; and second, equities. met regularly with the Finnish regulators, who “We knew that equities would be more complex were also key stakeholders. “We operate critical given the extensive functionality and support for infrastructure for the financial markets, and so corporate actions,” says Vainio. “That’s why we the success of Infinity was essential for risk included ISO 20022 messages and other base management throughout the Finnish capital capabilities during the first phase.” markets,” says Vainio. “Our regulators supported “As we replaced our fixed income systems, we us throughout the entire journey.” set the foundation for what we would then do in the equities markets,” says Anu Puttonen, Head of Partnership approach Product Management for Euroclear Finland. “Our clients interact with our systems on a TCS worked in close partnership with Euroclear daily basis, and so they were closely involved and Finland throughout the Infinity initiative. TCS’ engaged with what we are doing,” adds Puttonen. onshore team in Helsinki sat alongside Euroclear “At the same time, we keenly understood Finland business analysts, IT teams, development that clients have their own priorities, and that and technology teams and business users. whatever we launch has to be synchronized with “We had a team of almost 100 people on one their own development initiatives.” floor, all sitting together, learning together and Multi-tier engagement with participants celebrating together, to create that ‘One Team, To gather detailed, ongoing guidance and feedback from both sides traveled often between India One Goal’ feeling,” says Vainio. To further build a collaborative culture, experts with clients, Euroclear Finland established several and Finland, and teams also met frequently engagement groups for covering business changes, with offshore teams via dedicated video technical changes, project management, testing, teleconferencing facilities. Other collaborative and data migration. The engagement groups met approaches included the use of cloud-based issue regularly to uncover and resolve potential issues tracking and project tracking software, training within their respective domains. sessions, and sharing of detailed documentation Overseeing the activities of the engagement between teams. groups, a Market Advisory Committee consisting TCS created a dedicated offshore delivery of senior executives from Euroclear Finland and center for Euroclear Finland at Chennai, staffed its key clients monitored the overall progress of with development teams, testing teams, and SMEs the initiative. with deep knowledge of the European landscape. Euroclear Finland established a dedicated A specialized team was also set up to handle the team solely for client account management. “The performance and other non-functional needs of client account management team was responsible the program. for being the central contact point between us Senior management teams from both TCS and and our clients,” says Puttonen. “They not only Euroclear Finland provided strong governance and answered client queries, but also made sure that monitoring throughout the project. “There was a we understood what was going on with our client strong commitment at senior levels on both sides organizations.” that this was a joint journey that we had to conduct 13