Retail & Wealth - Digital Vendor selection
Retail & Wealth - Digital Vendor selection
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Problem Statement
Problem Statement
Commercial Bank looking to enter Retail Banking space by offering a digital retail offering. Coverage: Retail Onboarding, Retail Portal, Wealth Onboarding, Wealth transactions
Approach
Approach
Digital Retail Banking vendor longlist. Vendor shortlist using basic criteria.
Running RFI & RFP process on behalf of bank to obtain more vendor details
Conducting vendor demos for bank team to understand vendor offering in depth
Final report including best-fit vendor recommendation and Total Cost of Ownership.
Key Findings/Results
Key Findings/Results
Enabled decision-making - build vs buy vs collaborate, Portal design, critical surround system prioritization
Best-fit vendor identified according to client context
Recommendations accepted by all governing committees - working & Steering Committee/Sr Management
TCO negotiations initiated and handed over to implementation team
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