The Client

The client, a universal financial institution, is one of the oldest and most determinant members of the Hungarian banking system.

The Project

A long time user of Finastra’s Fusion Kondor, the client has been running an, out of support, decade-old version of the product. Regulatory and technology audits found the operational risk to be unacceptable. With the changing landscape of the banking industry in Hungary, the client’s top management, needed to assess the state of their Money and Capital Markets system (Kondor), with the objective of structuring a cost effective upgrade programme to address strategic business and technology requirements and mitigate risks..

The Outcome

Step Forward Partners conducted a detailed study to ascertain the shape of the upgrade giving due consideration to reusable work to be done before the upgrade, the upgrade itself, and enhanced business, technology and security requirements post the upgrade program.

The comprehensive study, submitted to the board, included detailed costs and requirement roll-out with key technology enhancements including proposed architecture, functional enhancements, new interfaces and modules as well as a plan to address LIBOR/ IBOR transition.