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Current Account Switch

Current Account Switch

Introduction

A global banking and financial services company wished to offer the Current Account Switch Service (CASS) to existing and prospective corporate banking customers. To maintain control and efficiency, the new functionality needed to be integrated into its current framework.

Bacs Payment Schemes Limited (Bacs), formerly known as Bankers’ Automated Clearing Services, is responsible for the schemes behind the clearing and settlement of UK automated payment methods. They are responsible for CASS, which helped to increase competition, increase consumer choice of banking providers and reduce barriers to entry for new banks. This service was to be implemented within the Corporate banking Environment.

CubeMatch Deliverables

  • Match the customer needs in software development services to meet new business and regulatory requirements
  • Establish a user-friendly interface to encourage current account switch
  • Produce a fully integrated system
  • Successfully link the internal processes of the bank with Bacs

CubeMatch Approach

  • CubeMatch provided a managed service team of BAs and developers to analyse the business requirements and produce a system to bring all information In House on a "personal" desktop
  • Creation of a workflow management tool to prompt any actions or solutions required within a workflow
  • Enrichment of current Bacs data model
  • Test conditions mapped to verify all workflows were fully operational, ready to be released
  • Regular reporting and support to the business throughout the project

Benefits Delivered

  • Delivery of a successful integration service
  • Rapid application developments
  • Improved quality of service to system users
  • Provided an iterative, nearshore, rapid application development team to deliver an integrated solution
  • Team was accessible with open lines of communication
  • CubeMatch made use of our established managed service team
  • Experience of completing multiple developments and enhancements for this client on this set of applications and maintained a positive working relationship
  • Provided development, support and maintenance series to a suite of applications to the client as part of a managed service from our development centre in London