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Project Vision Document

1. Project Overview

Project Name: Test Bank Core Banking Software Replacement

Project Sponsor: Test Bank

Project Manager: [Project Manager]

Document Version: 1.0

Last Updated: 10/24/2024

2. Vision Statement

Test Bank aims to modernize its core banking system by replacing its 40-year-old COBOL-based system with the latest Temenos Transact core banking software (R24 release). This transformation will streamline operations, enhance user experience, and ensure regulatory compliance, all while maintaining seamless service for our 250,000 members.

3. Business Objectives

  • Successfully implement Temenos Transact core banking software (R24 release).
  • Integrate with third-party systems: Paymentus for payments and LendingPad for loan origination.
  • Complete the project within six months to go live by New Year's Eve, 2024.
  • Ensure no disruption to current members during the transition.
  • Automate testing using Selenium.
  • Close and refund accounts with $100 or less.

4. Project Scope

In Scope:

  • Implementation of Temenos Transact core banking software (R24 release).
  • Integration with Paymentus for payment processing.
  • Integration with LendingPad for loan origination.
  • Automated testing using Selenium.
  • UX design using different shades of blue.
  • Closure and refund process for accounts with $100 or less.

Out of Scope:

  • Use of Temenos Payments Hub (TPH).
  • Use of Temenos' Loan Origination System (LOS).
  • Major changes to current banking products and services.
  • Manual testing processes.

5. Stakeholders

  • Project Sponsor: Test Bank
  • Project Manager: [Project Manager]
  • IT Team: Responsible for system implementation and integration.
  • QA Team: Responsible for automated testing.
  • UX/UI Designers: Ensure compliance with the UX color scheme.
  • Bank Members: End-users of the banking system.
  • Third-party Vendors: Temenos, Paymentus, LendingPad.

6. Deliverables

  • Fully implemented Temenos Transact core banking software (R24 release).
  • Integrated Paymentus payment system.
  • Integrated LendingPad loan origination system.
  • Automated test scripts using Selenium.
  • UX design adhering to the blue color scheme.
  • Process for closing and refunding accounts with $100 or less.

7. Assumptions

  • All third-party software systems will be compatible with Temenos Transact.
  • The migration process will not cause significant downtime.
  • Adequate resources and support from third-party vendors.
  • Members will be informed and cooperative regarding account closures.
  • All necessary regulatory and compliance requirements will be met.

8. Constraints

  • Project must be completed within six months.
  • Must go live on New Year’s Eve, 2024.
  • No disruption to current 250,000 members.
  • UX design limited to different shades of blue.
  • Limited budget for third-party integrations.

9. Risks

  • Risk 1: Delays in integration with third-party systems.
  • Risk 2: Potential data migration issues.
  • Risk 3: Member dissatisfaction due to account closures and refunds.
  • Risk 4: Regulatory compliance challenges.
  • Risk 5: Insufficient time for thorough testing.

Prepared by: Super User
Email: SuperUser@awesomesauce.com
Date: 10/24/2024

Document Link
Test Bank Core Banking Software Replacement Project Vision Document