Our client, a leading German bank, wanted to replace its legacy standalone collateral management system to consolidate IT platforms and benefit from process and practices optimizations in the collateral management industry. The client’s strategic capital markets target system Murex was chosen to decrease overall run-the-bank costs and support the bank’s platform strategy. Capco supported the bank throughout the complete project life cycle, from initiation to a successful go-live and the subsequent hypercare phase.
The collateral management system being replaced was outdated and did not support the latest developments in the collateral management industry in terms of margin call processing and communication. The maintenance and support of the existing system thereby did not meet the financial expectations and an upgrade of the existing system was not possible.
• Review of the legacy system integration within the existing system landscape; analysis of the required changes and creation of the business specifications; definition of requirements towards Murex as the software provider.
• Setting up a stakeholder communication model for the main functional end-to-end processes, which included some agile components to ensure frictionless interaction between the business, development, technical and project resources.
• Collaboration with the Murex Change Factory to integrate the solution into the established development model and the overall system architecture.
• Organizing a test campaign, including a distinct component test (drop validation), a system integration test and a user acceptance test; monitoring and tracking of the tests progress and managing defects.
• Very close alignment with the software provider – Murex – regarding the Collateral Management System, for both out-of-the-box and customized solutions.
• The project ran from July 2019 to June 2022, going live in May 2022.
• With the successful introduction of collateral management on Murex, the client achieved their goal of setting up a future-proof and cost-effective collateral management architecture and platform.
• The affected business units - Operations, Treasury and Risk – can now benefit from a number of functional and process improvements. This includes connectivity to platforms such as MarginSphere and TriResolve as well as an automated allocation processes and an improved trade import process.
• This highly complex project was completed with very high production stability and user satisfaction, thanks to an excellent team effort from the client, Murex and Capco.