ProfileBancolombia is the largest commercial Bank in Colombia and one of the largest Bank in Latin America. The bank is headquartered in Medellin, the second largest city in Colombia and founded in the year 1945. The Bank has ended 2014 with COP 148,725 billion in assets, liabilities COP 131, 908 billion and consolidated net income of COP 488 billion. The Bank has 30,158 employees, 1070 branches and 4524 ATM’s and provides banking services across Colombia, El Salvador, Bainstmo and subsidiaries such as Panama, Cayman, Puerto Rico. Together, Bancolombia and its subsidiaries provides stock brokerage, investment banking, leasing, factoring, consumer finance, fiduciary and trust services, asset management services to its customers.

Bancolombia

CASE STUDY

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Overview

Bancolombia chose Finacle core banking

solution to transform its business under

the program called the Innova project.

The solution has enabled the bank to

operate a seamless platform across Latin

America and consolidate operations from

across the region into a single, state-of-

the-art system. Bancolombia can now

get new products to market within days

and they’re able to clear payments and

loans immediately because of straight-

through processing. Finacle centralizes

all of the bank’s vital functions into one,

easy-to-operate platform. Supporting

multiple languages, Finacle is an effective

solution for both Spanish- and English-

speaking subsidiaries, and is tailored to

accommodate banking requirements in

every region Bancolombia operates.

This Implementation program was to

replace existing legacy solutions with a

new, state of art, Finacle core banking

solution and will re-engineer the business

processes to deliver enhanced customer

experience. Its purpose is to deliver an

enhanced customer proposition whilst

at the same time replacing existing

technologies with new flexible systems.

While embarking on this initiative,

Bancolombia engaged Finacle IVS as their

trusted independent testing partner for

both functional testing and for setting up

the Finacle test center of excellence.

Business Drivers

The key business drivers for the

transformation strategies were:

• Optimized customer satisfaction

through streamlined processes and

more robust tools

• Transformation driven by technology

with a clear & feasible roadmap that

delivers quality and adhere to the

timelines

• Tellers: GOLF for Colombia and Finacle

for Subsidiaries and Bainstmo along

with channels and real time online via

STI.

• Increase customer satisfaction through

product innovation, consistency of

experience and competitive pricing

• Profit generation through better value

products, enhanced customer targets

and reduced system maintenance costs

About The Program

While embarking on this initiative, Bank

engaged Finacle IVS as their trusted

independent testing partner for both

functional testing and for setting up the

Finacle Test center of Excellence.

Key Aspects of the program:

• Test planning: The complete offshore

and test execution has been carried out

a an onsite-offshore model

• The testing phase and timelines aligned

with the implementation roadmap and

involved a team of 30 people during

days of peak activity

• The program considerably reused the

test cases from other implementation

testing engagements and also from

Bancolombia’s implementation

across Colombia, Bainstmo and other

subsidiaries

• Infosys Automation framework has been

leveraged to automate regression test

suite

• The Finacle implementation testing

covered the customizations catering to

Colombian regulations in English and

Spanish language

• The testing program was SLA driven

covering deliverables for the Spanish

language too

• The program leveraged HP – Quality

center for test and defect management

which has resulted in zero operational

defects

Best Practices

Test planning:

The preparation of test cases was based on

solution documentation to test end to end

functionalities. The bank’s functional team

and subject matter experts (SME’s) were

involved throughout the life cycle to review

the test cases created. They also provided

clarifications on the business processes to

understand the expectations from business

teams and ensure 100 % test coverage. The

team then prioritized the test cases based

on the critical business functionalities,

key customizations, regression test cases

and high defect prone areas. The bank’s

functional SME’s provided a walkthrough

of the solution documentation and the

Infosys testing team provided this for

the test cases. All this ensured timely

completion of test case creation, review

and approval activities.

Test execution:

The bank and the Infosys team adopted a

focused and well defined testing approach.

This covered the Finacle solution testing

using created and real-time data, system

integration testing and acceptance testing.

This has helped the team in identifying

critical defects early in the life cycle and

ensure on time completion of testing

activities.

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The bank’s team was present at the

offshore location during Finacle solution

testing, which helped to categorize the

test cases as per business priorities and

align with the test execution plan. During

Execution, workshops were conducted

involving the bank’s functional team,

Infosys functional and testing team

to clarify the queries and validate the

expected functionality output. This has

helped to reduce the defect slippage to UAT

Phase and also timely go-live of the solution.

Summary

A successful hand over was made with the

completion of each of phase of testing. The

bank has saved 30% time and effort due to a

well-planned and efficient testing approach.

The entire exercise has met all the bank’s

expectations completely and the bank is

now armed with a testing suite for future

exercises. The entire exercise has helped

Bancolombia enhance their confidence

in the newly released Finacle application,

improve the productivity and lower the

overall cost of ownership.

Juan Camilo Zuluaga Peralta, Leader - Panama Green Field, Bancolombia says “I want to take this opportunity to thank the entire Infosys team for all their commitment and good work to get this project done”.

Nancy Restrepo Montoya, Test Manager – Project Innova , Bancolombia says “In general terms, the team has faced the project with great responsibility and dedication. The activities planned as part of the certification process have been executed with very good results and all the risks reported have been mitigated with effective actions”.

Yanin Parra, Test Leader – Project Innova, Bancolombia says “Infosys testing is a great team, committed and very agile in every task that they are executing, like incidents certification and other E2E testing support on the Innova project.”

www.finacle.comFor more information, contact finacle@edgeverve.com

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