Core Banking Solution

The vendor is required to provide core banking solution for include:
•    Project development
•    Functional and technical survey
•    Product and module delivery
•    Environment preparation (cloud)
•    Gap assessment: identification and prioritization
•    Mandatory gaps development
•    Data migration
•    Users’ acceptance tests (UATS)
•    End-user’s training
•    Final testing
•    Go live
- Requirement
1. Security features: 
•    Strong security measures to protect customer data, prevent unauthorized access, and detect and respond to security threats effectively. 
•    Commitment to security standards such as iso 27001, soc 2, GDPR, CSA star, and state data protection act. 
2. Support and maintenance: 
•    Access to reliable technical support, regular software updates, and ongoing maintenance services to ensure the smooth operation of the core banking system. 
3. Cloud readiness: 
•    Readiness for cloud deployment, enabling the bank to leverage the scalability, flexibility, and cost-efficiency of cloud infrastructure. 
4. Transaction processing: 
•    Efficient and reliable transaction processing capabilities to support a wide range of banking transactions, including deposits, withdrawals, transfers, payments, and loan disbursements. 
5. Risk management: 
•    Robust risk management features to identify, assess, and mitigate various types of risks, including credit risk, operational risk, and compliance risk. 
6. Compliance and regulatory compliance:
•    Built-in features to ensure compliance with regulatory requirements and industry standards, including anti money laundering (AML), know your customer (KYC), and data protection regulations. 
7. Real-time processing: 
•    Support for real-time transaction processing to provide employees with immediate access to up-to-date account information. 
8. Scalability: 
•    The system should be able to scale seamlessly as the bank grows, accommodating an increasing volume of transactions, customers, and products. 
9. Flexibility and customization: 
•    It should offer customization options to tailor the system to the bank's unique requirements, such as customizing workflows, product offerings, and reporting. 
10. Analytics and reporting: 
•    Advanced analytics and reporting capabilities to generate insights from banking data, monitor key performance indicators (KPIs), and make data-driven decisions. 
11. Customer relationship management (CRM): 
•    Integration with CRM functionality to manage customer interactions, track customer preferences, and provide personalized services. 
12. Integration capabilities: 
•    Ability to integrate seamlessly with other banking systems, third-party applications, and external data sources, enabling data exchange and process automation. 
13. Workflow automation: 
•    Automation of routine banking processes and workflows to improve efficiency, reduce manual errors, and streamline operations. 
14. Support for multiple currencies: 
•    Ability to support transactions in multiple currencies to cater to diverse customer needs and facilitate international banking operations.

- Questions/Inquires Deadline: September 18, 2025