Bank in Indonesia

Core Banking Implementation in one of the top Indonesia Bank. It is a global leader in food and agriculture financing and sustainability-oriented banking.

Headquarters:

Jakarta, Indonesia

 

Branches:

120

1.Business Objectives

  • Rabobank International had acquired a local bank with over 100+ branches to grow their business in Indonesia.
  • The System had limitations in loan processing and was unable to launch new products in a timely manner
  • High Risk due to many manual processes
  • integration to Rabobank head office systems (Calypso, Kondor, Peoplesoft GL)

2.Key challenges

  • The skill set of the bank local team and knowledge
  • Manual Processes (Loans, etc)
  • Manual Compliance mechanism – Indonesia’s central bank requirements
  • Integration to local clearing payment systems, etc

3.Business Solution

  • Development of automated loan origination system using process workflow to cover the life cycle of a loan:
    • Document verification/management
    • Collateral Administration
    • Credit Scoring
    • Facility creation, the collection of fees and  finally disbursement of the loan with necessary approvals
  • Development of Indonesian regulatory Compliance solution
  • Integration to various upstream/downstream systems. Eg, Kondor, Calypso, Peoplesoft GL

4. Value Created

  • Loan processing time reduced from 2weeks to 2days
  • New Products could be launched within days
  • Lowered Risk through automation of Compliance System and Integration with external systems and Rabobank Head Office
  • Business process automation and availability of MIS reports at HQ level

Project parameter

Delivery Methodology
  • Waterfall
Type of solution
  • Development of loan products
  • Run the business
Client and Delivery Location
  • Jakarta, Indonesia
  • Mysore, India
Pricing Model
  • Fixed price
Project Deliverables
  • Core banking system for Retail and Wholesale Banking
Timeline
  • 18 Months
Monitoring Methodology
  • Monthly steering committee meetings
  • Weekly project Status Meeting
  • Cost variance & Defect Density Report
Monitoring Methodology
  • Under Budget and On Time