case study
BSP Fiji
Run–Grow–Transform strategy pays dividends
for successful South Pacific bank
By Freddy Tivaknoa Konousi, Relationship Manager, TCS Financial Solutions
In December 2009, Bank of South says Saberi. “In hindsight, we made deliver, it has to interface with the
Pacific acquired Colonial Fiji Group to the right decision. TCS BaNCS has core banking system.”
form BSP Fiji. Together, the combined worked for us, and TCS has been a
entity set an ambitious new goal: To
become the number-one financial
That’s why, before rushing ahead
to deploy new digital capabilities,
good partner.”
TCS was initially just BSP’s core
BSP Fiji began with a comprehensive
banking provider, but now, the upgrade of its core banking solution.
relationship has expanded to include This approach to transformation is
met the challenge head-on. Ten years multiple solutions and projects. “We described as “Run–Grow–Transform.”
ago, the bank was a distant third in a have had a long-term relationship marketplace with four major players. with the people at TCS that goes back reduce risks in technology and
Today, they’re running a close second for over 25 years,” says Saberi. “The operations with upgrades to existing
in a more-crowded marketplace that longevity in that relationship really systems, including the deployment of
includes two major Australian banking works well for us, because we know TCS BaNCS across the entire bank.
groups. “By 2020, we expect to be the that when we deploy a project, TCS
provider in Fiji and the region.
The entire BSP Fiji organization
number-one bank in Fiji,” says Omid
Saberi, CIO of BSP Fiji.
Since the mid-1990s, Colonial
Fiji Group had been using the core
banking solution that, in 2005,
will be there to support it.”
DIGITAL BANKING
TRANSFORMATION
One of BSP Fiji’s key objectives was
The first step, “Run,” aimed to
The second step, “Grow,” expanded
the deliverables provided to
customers through existing systems,
including new end-user applications.
The third step, “Transform,”
improved overall performance with
reengineered workflows.
was incorporated into TCS BaNCS. to enable digital banking. “Digital is Based on that strong, long-lasting not just about access through the relationship, and the cost advantages, Internet,” says Saberi. “It’s starting performance benefits, and stability from core banking all the way up to of the core banking solution, it was a the touchpoints around the channels. approach has yielded new solutions in
clear choice to move the combined It’s providing efficiencies, enhanced multiple areas:
entity onto TCS BaNCS. customer experiences, cost savings, l Loan origination system. BSP Fiji
With that choice, the seeds of
and competitiveness.”
“We had to go through all of these
stages, one at a time,” says Saberi.
This “Run-Grow-Transform”
has significantly reduced the time it
today’s success were planted at the As such, the solution could not time of the merger. “We compared consist merely of bolt-on solutions to process new applications for
all the systems from both BSP onto the existing core. “Core banking unsecured loans. These were
and Colonial, at that time, and our is a pivot point for every product,” previously processed manually,
assessment was to stick with TCS,” says Saberi. “No matter what we taking hours or even days. “If
20
takes for a bank branch employee