Bank Sohar faced challenges in implementing its core banking solution on an expedited timeline before its official launch. It utilized Finacle's Bank-in-a-Box framework, which provided a pre-configured banking system based on proven practices. Careful planning allowed parallel training and process definition. The solution went live within 56 days, successfully meeting the bank's aggressive deadline and allowing it to achieve its growth objectives through innovative products and services enabled by technology.

1. Thinking
Out-of-the-Box
Bank Sohar

2. Bank Sohar
Thinking Out-of-the-Box
OVERVIEW
The Challenge
Bank Sohar is a start up bank in
Bank Sohar, as a start up, was engaged in its recruitment Oman. Bank Sohar’s entry into
process which delayed the start date of the core banking the Oman banking sphere came
solution implementation by two months - until February 2007. about amidst much hype and
However, the deadline date had not changed as the bank’s fanfare. Bank Sohar’s IPO was
CEO strongly requested that the original date of 1st April oversubscribed more than 5
2007, be maintained. Further to this, key decision making times even before the bank
personnel were not on board since beginning and the basic opened, revealing the Omanis’
infrastructure was not in place at the bank’s site. expectations. With a strong
group of promoters behind it,
The Solution Bank Sohar now has an initial
Finacle Bank-in-a-Box (BIAB) framework a new built up capital of 50 million Omani
implementation paradigm that allows a bank to go live on Rial (approx 125 million USD).
Finacle core banking solution in a very short span. It is a Bank Sohar will cover the entire
pre-configured, fully integrated banking transformation range of retail, corporate and
solution based on its proven universal banking solution. investment banking services.
Bank Sohar will focus on specific
The Benefit market segments and a phased
Bank Sohar core banking implementation (Phase1) was approach to launching new
carried out before the bank formally opened its doors to the products and services gradually
public within a record breaking timeframe of 56 days. evolving into a universal bank.

3. Technology is viewed from 3 • The imperatives, when the
perspectives: environment requires pure vanilla
offerings and quick deployment
schedules, are unique. For banks
• The demands that arise from who want to synchronize technology
the complexity of the operating and processes, BIAB offers solutions
environment created by urgent with which organizations can start
imperatives, risk mitigation drivers, leveraging technology benefits
sales roll-outs and so on cannot be from day one.
ignored. Typically, deployment of
• The focus of the bank, that centres
solutions in such an environment around absorbing best-in-class
translates into a period of about processes and banking practices,
18-24 months. The project can needs to be addressed effectively.
exceed this period, as well, if the Technology can help them compete
architecture is complex and mired by aggressively with players in the
inflexible legacy systems. international arena.
Technology Players: Matching the Pace of up, it was engaged in its recruitment process
Banking which impacted the start date. The challenges
included executing a project with key decision
Finacle Bank-in-a-Box (BIAB) framework is a new
making personnel not on board from the beginning
implementation paradigm that allows a bank to go
and basic infrastructure not in place at the bank's
live on Finacle core banking solution in a very short
site. The implementation was delayed by two
span. It is a pre-configured, fully integrated banking
months – until February 2007, however, the
transformation solution based on its proven
deadline date had not changed as the bank’s CEO
universal banking solution.
strongly requested that the original date of 1st April
BIAB is an approach aimed at bringing down 2007, be maintained.
the implementation time and most importantly
This posed significant risks, resulting from
provides customers a ‘best configured banking
completing a four month project in less than two
environment’.
months, which meant that every activity would
The bank wanted to implement the Finacle have to be watertight, without any contingency
universal banking solution – covering the whatsoever. Thus, there was no scope for lags
functionalities of core banking, treasury, e-banking in any activity.
and CRM with interfaces to ATM, SWIFT, Oracle
• It was decided that Finacle Bank-in-a-Box would
GL and RTGS/ACH apart from other third party
be deployed to save time and effort. Since this
products such as NetCast and Omnidocs.
was a new bank, it was deemed that this would
Finacle had allocated four months to complete the also add value in terms of providing a readily
project, however because Bank Sohar was a start available base of best banking practices. The

4. plan was to adopt a ‘recommend’ approach Business owners responsible for sign offs for
rather than a ‘requirement seeking’ approach. each of the days were also listed. Core
training was planned to be performed during
• Detailed project planning was done to carefully
the first half of the day and the BPD
chart out every activity and crunch the activity
immediately afterwards.
to the bare minimum.
• Core team training and Business Process Benefits of Leveraging Technology
Definition (BPD) traditionally done sequentially
were now designed to be performed in parallel. • Bank Sohar core banking implementation
(Phase1) was carried out before the bank
• The BPD document which consisted of multiple
formally opened its doors to the public within a
modules and was traditionally signed off at the
record breaking timeframe of 56 days.
very end was now broken into multiple
documents – to facilitate quick sign offs after • Was executed under a non-negotiable deadline
each module was completed. committed to the bank
• To perform a complete but timely testing • The retail loan module was not part of the
during System Integration Testing and User initial project scope. However, 2 weeks from
Acceptance Testing, Infosys recommended Go Live, the bank requested that at least one
that the bank engage its Finacle Testing services retail loan product be delivered as this was a
unit to carry out this activity, which they did, basic requirement for local customers. Infosys
ensuring timely completion. took cognizance of the bank’s critical need
• Senior management commitment – and decided to meet it through innovative
Unequivocal commitment from the top use of the corporate loan module, since
management throughout the different phases a typical retail loan launch would have taken
of the implementation, paid off. It was defined much longer. Infosys built in all the basic
in the project kick off meeting that all issues features of the retail loan product in the
(on the bank’s side) should be escalated to corporate loan module, positively impacting
the senior management immediately, which revenues from the loans portfolio for the bank.
worked to ensure a disciplined and
• A breakthrough decision taken, resulted in the
smooth implementation.
actual revenue of the loans portfolio growing
• Core team training / BPD – An 18-day workshop to over 10 times the expected target.
was designed with daily activities listed.
No. Of New Branches & Transactions Post Launch:
Name Country Total No. of No of branches Peak Average
Branches on Finacle Transactions Transactions
Bank Sohar Sultanate of Oman 13 13 59023* 24590**
No of Offsite ATMs on Finacle - 11 Data as on August 09
“We are impressed with Finacle Bank-in-a-Box. The speed of deployment has been a
tremendous support for Bank Sohar to achieve its ambitious growth plans and business
objectives of innovation and technology-enabled product and service differentiation”
Dr. Mohamed AbdulAziz Kalmoor
CEO, Bank Sohar
Bank Sohar

5. Functional Diagrams
Standard Finacle Implementation Process
Configuration Testing
Requirements
To-Be-Process and and and
Study
Development Deployment
Simulation Run
Go Live
Stabilization
and
Handover
to GSC
Implementation Process with usage of BIAB
and
of

6. Finacle from Infosys partners with banks to power- Infosys Technologies Ltd. (NASDAQ: INFY) defines,
up their innovation agenda, enabling them to designs and delivers IT enabled business solutions.
differentiate their products and service, enhance Infosys' offerings span business and technology
customer experience and achieve greater consulting, application services, systems
operational efficiency. Finacle solutions address the integration, product engineering, custom software
core banking, wealth management, CRM, Islamic development, maintenance, re-engineering,
banking and treasury requirements of retail, independent testing and validation services, IT
corporate and universal banks worldwide and infrastructure services and business process
provide online marketing tools like Finacle finanz outsourcing. Infosys today has more than a third
tools. Finacle solutions also empower banks with of its business coming from the banking and
multiple sales, service and marketing channels financial services industry and has a strategic
including e-banking, mobile banking and call focus on this segment.
centers. These offerings make Finacle a strong
innovation-facilitator enabling banks to accelerate
growth, while maximizing value from their large
scale business transformation.
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SOUTH ASIA
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