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Financial Institution

– Complex technology Procurement

The client, a national bank with responsibility for monetary and financial stability, needs to ensure individuals, businesses, and institutions can pay for things easily and securely. They produce banknotes (cash) and oversee many of the other payment systems and regulate banks and other financial firms.

The client needed to replace its legacy Real Time Gross Settlement (RTGS) system which processes the wholesale banking transactions. This system was considered a part of the country’s Critical National Infrastructure, so technical standards and design constraints were extremely rigorous. The development also needed to align to the introduction of new international standards for the processing of inter-bank payments.

Client Objectives

As a public authority, the client was required to procure through a public competitive process, which is transparent and fair.
The procurement was for the bespoke development of a complex application which was required to be highly resilient and performant, and the technical solution included CRM, Infrastructure, Online and Data Warehousing, along with end to end Systems Integration and implementation of a new enterprise service bus. To allow time for the client to develop its own support capability, the contract could also need to provide for an extended period of operational run services as well as a staged handover/transition process.
In addition, the client wanted to leverage agile methods to improve delivery reliability and flexibility, but had limited experience in contracting for such a critical project within an agile framework.

Skills & capabilities provided

The Lifecycle team:

  • developed the procurement strategy;
  • supported the business case creation;
  • assured requirements, and helped the client Subject Matter Experts to create the tender documents;
  • worked with internal and external legal counsel to develop a new contract set, suitable for such a critical programme;
  • designed the evaluation approach and associated scoring criteria;
  • coordinated and led the short list negotiations with the final three bidders up to selection of the preferred bidder.

Client Benefits realised & project outcome

The client was able to run a highly competitive process which concluded with the signing of a multi-year development and run contract of circa $100m.

The procurement was completed within time and budget, and the resultant contract embedded an agile delivery approach linked to payment on outcomes, with rigorous service performance standards for ongoing serviced delivery post go-live.