Business Requirements Document (BRD)

Table of Contents

1. Introduction
2. Business Objectives
3. Project Scope
4. Stakeholder Analysis
5. Requirements
   • Functional Requirements
   • Non-Functional Requirements
6. Assumptions
7. Constraints
8. Risks
9. Glossary
10. Appendices
11. Approval

Introduction

This Business Requirements Document (BRD) outlines the requirements for the implementation of Temenos Transact R24 to replace the existing legacy banking system. This document is structured to provide a comprehensive overview of the project's scope, objectives, stakeholder involvement, and detailed requirements.

Business Objectives

The primary business objectives for this project are:

• Successfully implement Temenos Transact R24 as the new core banking technology.
• Seamlessly replace the current legacy banking system with minimal disruption to operations.
• Enhance operational efficiency and improve customer experience with advanced banking features.

Project Scope

In-Scope:

• Implementation of Temenos Transact R24 core banking system.
• Migration of data from the legacy system to Temenos Transact R24.
• Training of staff on the new system.
• Integration with existing banking applications and third-party services.

Out-of-Scope:

• Development of new banking features outside of those offered by Temenos Transact R24.
• Changes to any non-banking related systems.

Stakeholder Analysis

Internal Stakeholders:

• Project Sponsor: John Doe, Chief Technology Officer
• Project Manager: Jane Smith
• IT Department: Responsible for technical implementation and support
• Operations Team: End-users of the banking system
• Customer Service Team: Interface with customers and require training on the new system

External Stakeholders:

• Temenos Support Team: External vendor providing the core banking system
• Third-Party Integrators: Vendors responsible for integrating additional services

Requirements

Functional Requirements

1. Requirement ID: FR-001

   • Description: Implement core banking functionalities provided by Temenos Transact R24.
   • Priority: High
   • Source: Business Strategy

2. Requirement ID: FR-002

   • Description: Migrate all customer data from the legacy system to Temenos Transact R24.
   • Priority: High
   • Source: IT Department

3. Requirement ID: FR-003

• Description: Ensure compatibility and integration with existing banking applications.
• Priority: Medium
• Source: IT Department

4. Requirement ID: FR-004
   • Description: Provide training sessions for all staff on how to use the new system.
   • Priority: Medium
   • Source: HR Department

Non-Functional Requirements

1. Requirement ID: NFR-001

   • Description: The system must handle a minimum of 10,000 transactions per second.
   • Priority: High
   • Source: IT Department

2. Requirement ID: NFR-002

   • Description: System downtime should not exceed 1 hour per month.
   • Priority: High
   • Source: IT Department

3. Requirement ID: NFR-003

• Description: Ensure data security and compliance with financial regulations.
• Priority: High
• Source: Compliance Department

Assumptions

• The current IT infrastructure can support the new core banking system.
• All necessary hardware and software for the new system will be procured in a timely manner.
• Staff will be available for training sessions without significant disruptions to daily operations.

Constraints

• Budget limitations may affect the scope of the project.
• Limited availability of key personnel during the implementation phase.
• Dependence on third-party vendors for timely delivery of integration components.

Risks

• Risk ID: R-001

  • Description: Potential data loss during migration.
  • Mitigation Strategy: Conduct multiple data migration tests and backups.

• Risk ID: R-002

  • Description: Resistance to change from staff.
  • Mitigation Strategy: Provide comprehensive training and support.

• Risk ID: R-003

• Description: Delays from third-party vendors.

• Mitigation Strategy: Establish clear timelines and regular follow-ups.

Glossary

• Temenos Transact R24: A core banking software solution provided by Temenos.
• Legacy System: The existing banking technology currently in use.

Appendices

• Appendix A: Detailed project timeline
• Appendix B: Training materials and schedule
• Appendix C: Data migration plan

Approval

• Prepared by: Mike Meier
• Email: mikemeier@mad-tech.ai
• Date: 12/18/2024
• Approved by: [Approver's Name]
• Date: [Approval Date]