The new platform serves more than 44 countries critical to the bank’s wholesale business. Virtusa partnered with the global bank to design, develop and implement future-ready trade finance and open account trade platform across branches in the Asia Pacific region. Their future plan is to roll out the platform globally. The solution ensured adherence to SLAs and regulatory requirements by managing complex projects, performing regular checks, structured tracking of critical documents, and extending trade finance services, thereby increasing the scale of operations. The solution caters to country-specific needs like taxation and regulation.
We assisted the bank by:
- Leveraging processes, controls and best practices enlisted by the CoEs at Virtusa.
- Accelerated requirement gathering effort by reusing the Virtusa repository of trade finance use cases, process maps, and business capability models
- Accelerated test case identification by reusing the Virtusa repository of trade finance test cases
- Involvement in all phases of project/program life cycle, including production support activities for the platform
- Ensuring 24 X 7 support on production issues
- Providing the bank clients with access to 24/7, real-time trade capabilities that are scalable, reliable, and secure
- Enabling multivendor, multilocation, multi-ethnic, and multicultural teams spread across India, Malaysia, and Singapore.