Core Systems Replacement

Our client is a major player within the New Zealand financial services industry. Techspace were engaged to look at the options to replace their core financial system.

Rather than diving straight into the detailed requirements and potential RFP process, we took the time to understand the client’s current state, the practical options given its present constraints and the key impacts being felt within the business that was driving them to seek a replacement system.

Through this exercise, it became evident that outsourcing or a full scale replacement was not a practical at this time. Instead, by making some changes to improve the reliability of core infrastructure and focusing on what their customer needed – not on what they needed internally, we recommended a three year business improvement programme that would see them improve customer retention, reduce operating expenses and get them to a space where a systems replacement or outsourcing was more practical.

Once our recommendation was accepted, we assisted them to put in place the three year business plan driven by their customer-facing strategy. A core part of this was to assist evolve the culture to one focused on delivery and to provide tools to support the management team and their teams be more successful.

We continue to work with this client assisting them in the delivery of this plan and assisting to build capability across their team.