Instant Payment implementation
PROJECT
DATA
Hungary
2017 – 2020
Undisclosed bank
SERVICES
PROVIDED
METHODOLOGIES
USED
Always aligning to the expectations, client-side internal methodologies were used, including templates and standards for banking project preparation, planning, resource planning, project risk management, project reporting.
Classic Waterfall or Agile banking project management methodologies were applied.
In some cases hybrid project methodologies were applied to reach the project goals and milestones within the given framework.
Instant payment implementation project scope and targets
In 2016, the Magyar Nemzeti Bank, the central bank of Hungary started a countrywide project in partnership with GIRO Ltd. and 35 payment service providers to implement an instant payment solution, ensuring the execution of payments between Hungarian payment accounts within seconds, on a 24/7/365 basis.
As most of the legacy systems are not designed for 99,9% availability, Banks had to make massive developments, and introduce new shadow banking systems to be able to comply to the regulations till the given deadline.
Our main contribution to the project
Our company, MINDSPIRE Consulting was executing the complete end-to-end delivery of the Payment system (Payment HUB) for one bank during the instant payment implementation project.
For other banks providing Banking Project Management or Banking PMO Services, to ensure the delivery in time, on budget, from the planning phase till the go live.
Delivering the complete technical solution for one bank for the GIRO communication.
Providing banking IT experts, to cover several activities, such as requirement specification, planning, real-time balance handling, business analysis.
Project organization and roles
Complete solution delivery of the instant payment implementation project for a fixed scope.
Banking Project Managers and Work Group Leaders managing a complete client-side business, IT or operation team, or even multinational external solution provider vendors.
Banking IT experts working together with a client-side internal team, being responsible for dedicated tasks, processes or systems of the bank.
Our main involvement areas
- End-to-end delivery of the project
- Project planning
- Scope management
- Project reporting and monitoring
- Planning and follow-up of Milestones and Resources
- Business consultancy
MINDSPIRE profiles involved
- Banking Project Managers
- Business Analysts
- Payment Experts
- Technical Experts
- Lead IT Architects
- Test Managers, Testers
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