Bancolombia

CASE STUDY
Bancolombia
Profile
Bancolombia is the largest commercial Bank in Colombia and one of the largest Bank
in Latin America. The bank is headquartered in Medellin, the second largest city in
Colombia and founded in the year 1945. The Bank has ended 2014 with COP 148,725
billion in assets, liabilities COP 131, 908 billion and consolidated net income of COP
488 billion. The Bank has 30,158 employees, 1070 branches and 4524 ATM’s and
provides banking services across Colombia, El Salvador, Bainstmo and subsidiaries
such as Panama, Cayman, Puerto Rico. Together, Bancolombia and its subsidiaries
provides stock brokerage, investment banking, leasing, factoring, consumer finance,
fiduciary and trust services, asset management services to its customers.
Overview
Business Drivers
Bancolombia chose Finacle core banking
The key business drivers for the
solution to transform its business under
transformation strategies were:
the program called the Innova project.
•
The solution has enabled the bank to
across the region into a single, state-of-
timelines
•
Tellers: GOLF for Colombia and Finacle
through processing. Finacle centralizes
for Subsidiaries and Bainstmo along
all of the bank’s vital functions into one,
with channels and real time online via
easy-to-operate platform. Supporting
STI.
multiple languages, Finacle is an effective
solution for both Spanish- and English-
•
speaking subsidiaries, and is tailored to
accommodate banking requirements in
every region Bancolombia operates.
•
This Implementation program was to
Increase customer satisfaction through
solution and will re-engineer the business
processes to deliver enhanced customer
experience. Its purpose is to deliver an
enhanced customer proposition whilst
at the same time replacing existing
technologies with new flexible systems.
The Finacle implementation testing
covered the customizations catering to
Colombian regulations in English and
Spanish language
•
The testing program was SLA driven
covering deliverables for the Spanish
language too
•
The program leveraged HP – Quality
center for test and defect management
which has resulted in zero operational
defects
product innovation, consistency of
Best Practices
experience and competitive pricing
Test planning:
Profit generation through better value
The preparation of test cases was based on
products, enhanced customer targets
solution documentation to test end to end
and reduced system maintenance costs
functionalities. The bank’s functional team
replace existing legacy solutions with a
new, state of art, Finacle core banking
•
delivers quality and adhere to the
get new products to market within days
loans immediately because of straight-
Transformation driven by technology
with a clear & feasible roadmap that
the-art system. Bancolombia can now
and they’re able to clear payments and
suite
more robust tools
•
Infosys Automation framework has been
leveraged to automate regression test
through streamlined processes and
operate a seamless platform across Latin
America and consolidate operations from
Optimized customer satisfaction
•
and subject matter experts (SME’s) were
About The Program
While embarking on this initiative, Bank
engaged Finacle IVS as their trusted
independent testing partner for both
functional testing and for setting up the
Finacle Test center of Excellence.
involved throughout the life cycle to review
the test cases created. They also provided
clarifications on the business processes to
understand the expectations from business
teams and ensure 100 % test coverage. The
team then prioritized the test cases based
on the critical business functionalities,
While embarking on this initiative,
Key Aspects of the program:
key customizations, regression test cases
Bancolombia engaged Finacle IVS as their
•
and high defect prone areas. The bank’s
trusted independent testing partner for
and test execution has been carried out
both functional testing and for setting up
the Finacle test center of excellence.
Test planning: The complete offshore
a an onsite-offshore model
•
of the solution documentation and the
Infosys testing team provided this for
The testing phase and timelines aligned
the test cases. All this ensured timely
with the implementation roadmap and
completion of test case creation, review
involved a team of 30 people during
and approval activities.
days of peak activity
•
functional SME’s provided a walkthrough
The program considerably reused the
test cases from other implementation
testing engagements and also from
Bancolombia’s implementation
across Colombia, Bainstmo and other
subsidiaries
Test execution:
The bank and the Infosys team adopted a
focused and well defined testing approach.
This covered the Finacle solution testing
using created and real-time data, system
integration testing and acceptance testing.
This has helped the team in identifying
critical defects early in the life cycle and
ensure on time completion of testing
External Document © 2016 Infosys Limited
activities.
The bank’s team was present at the
helped to reduce the defect slippage to UAT
expectations completely and the bank is
offshore location during Finacle solution
Phase and also timely go-live of the solution.
now armed with a testing suite for future
exercises. The entire exercise has helped
testing, which helped to categorize the
test cases as per business priorities and
align with the test execution plan. During
Execution, workshops were conducted
involving the bank’s functional team,
Infosys functional and testing team
to clarify the queries and validate the
expected functionality output. This has
Summary
A successful hand over was made with the
completion of each of phase of testing. The
bank has saved 30% time and effort due to a
Bancolombia enhance their confidence
in the newly released Finacle application,
improve the productivity and lower the
overall cost of ownership.
well-planned and efficient testing approach.
The entire exercise has met all the bank’s
Juan Camilo Zuluaga Peralta, Leader - Panama Green Field, Bancolombia says “I want to take this opportunity to
thank the entire Infosys team for all their commitment and good work to get this project done”.
Nancy Restrepo Montoya, Test Manager – Project Innova , Bancolombia says “In general terms, the team has faced
the project with great responsibility and dedication. The activities planned as part of the certification process have been
executed with very good results and all the risks reported have been mitigated with effective actions”.
Yanin Parra, Test Leader – Project Innova, Bancolombia says “Infosys testing is a great team, committed and very
agile in every task that they are executing, like incidents certification and other E2E testing support on the Innova project.”
External Document © 2016 Infosys Limited
About Infosys Finacle
Finacle is the industry-leading universal banking solution from EdgeVerve Systems, a wholly owned subsidiary of
Infosys. The solution helps financial institutions develop deeper connections with stakeholders, power continuous
innovation and accelerate growth in the digital world. Today, Finacle is the choice of banks across 84 countries and
serves over 547 million customers – nearly 16.5 percent of the world’s adult banked population.
Finacle solutions address the core banking, e-banking, mobile banking, CRM, payments, treasury, origination,
liquidity management, Islamic banking, wealth management, and analytics needs of financial institutions worldwide.
Assessment of the top 1000 world banks reveals that banks powered by Finacle enjoy 50 percent higher returns on
assets, 30 percent higher returns on capital, and 8.1 percent points lesser costs to income than others.
For more information, contact finacle@edgeverve.com
www.finacle.com
©2016 EdgeVerve Systems Limited, a wholly owned subsidiary of Infosys, Bangalore, India. All Rights Reserved. This documentation is the sole property of EdgeVerve Systems Limited (“EdgeVerve”).
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