AA, its nuances in retail banking and, approach to implement it for our clients.
Arrangement Architecture (AA), the flagship module of Temenos(T24) that makes mainstream banking much easier and more flexible. The cornerstone of T24 core banking system itself is the way we could customize the modules to their very own requirements. Why AA?
In ever evolving market and technologies that revolves around it, it’s inevitable that usage of any product must be simplified as an ongoing process. Temenos saw that the earlier modules that cater solutions to retail verticals are scattered and banks has to go around each module to seek their expectation to be met.
These modules have the solutions contain within the product silos and all those functionality and features exist within itself. By such it’s difficult to foresee or implement any transformation of functionality to meet the bank additional needs.
Dig:1 Legacy Modules that AA replaced.
To solve that, T24 thought of having one single module that can handle all the prospects that are essential for retail banker. Architecture of AA is salient feature compare to any other module within T24 CBS itself. The concept of inheriting a technical nuance to conceive a functional product itself was path breaking. Business feature are encapsulated in a set of re-usable product components that are not product specific but functional specific. Added benefits, such as User can set conditions on different dates based on their needs, in upfront that makes them not track the changes manually, where the system itself will rollout those changes as on dates get processed.
Grouping of products are also possible where baseline conditions are done at parent group level and just the business needs that are varied alone can be bestowed at the child level, which makes the Bank to create a product at very less time. It’s also possible to switch the accounts from one product to another with minimal effort makes it easily recommendable product. Create multi-currency product with no fuss as the reusability works at this section as well.
Earlier setbacks that AA faced at this time of inception was that it’s too much heavy loaded software that often breaks the session and response wasn’t catered at feasible time; are mitigated now and throughput is delivered much faster though it would be improved even further in coming releases. Process of simulating the request of the customers to give them the taste of what is about to be served at beforehand is major win scenario for AA, as most daily functioning business conditions can be executed in no time.
While coming to migration of accounts from legacy to AA system, there are already textbook process that are provided which reduces the stress of having large time spent on migration. Most of the prolific data about the accounts are taken during this Take-Over process as part of the system. Just that certain additional data that user feels to be taken upon has to be concerned with.
Dig2: AA Design
In Concise, AA, One Solution for Multiple Modules, serves all line of business under the retail core banking system. Design a product only with those components that are needed. New products can be launched simply and quickly using the hierarchy.
Xebia has ventured into helping its customers, as part of ongoing projects, to explore the possibility of how AA could improvise their business in terms of deposits. The journey began with analyzing the as-is system, listing out the various product the bank offers to its customers and the user screens that are used in day-to-day basis; the process they follow to fund a deposit or redeem it, If the rollover is happening automatically or manually etcetera. Followed to it, was the walkthrough of how the as-is functionality can fit into the AA system to our client.
To demonstrate, few products are created, and brainstorming session was conducted on how the AA system works and how it varies from the as is system. Also understanding of the OOTB functionality that the bank have as process that wasn’t covered by the CBS. Providing the HLE’s for these activities, along with project timeline planning was other activities that Xebia helped the client to make decisive decisions to go ahead and kick starting the project faster.
Xebia’s workforce also take care of the local regulations that needs to be developed, as customization activity and ensures that these projects adhere to Temenos standards of coding along with the performance aspects. Team can handle tasks from Digital ends as well as from application server sides and how to streamline these requests inside and outside of T24.
The journey till now with this project is currently enduring a smooth transition; It will have its swift transformation in much sooner time and achievement of implementing AA for one our top clients at earlier stage of starting our COE in T24 are within our grasp.