TCS BaNCS Customer Newsletter TCS BaNCS #31 (September 2019) - Page 20

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