30. Legal Entity Management System Challenge A bank needed an enterprise solution to manage legal entities (obligors across 20 lines of business). The legacy CIS system and LOB applications were mandated to remain in place. The solution needed to provide capability to search obligor, de-dupe, merge, split, and group. The solution also needed to provide for ownership, reconciliation, challenge, and escalation protocols. Solution Meridian created Customer Information System services using an SOA approach that leveraged two integration frameworks for Line Of Business applications. Benefit Meridian implemented this project on time and under budget using less than 1/10 of the people that a competitor had proposed. Meridian’s expertise accelerated development and implementation meeting the bank’s needs.
31. Financial Analytics Solution Challenge The CFO needed a financial dashboard and analytics solution to effectively manage the financials of the business. Each time he needed a report, he went to his Controller and she had to log in and out of multiple systems to create a report that met his needs. The CEO would look at a report and ask questions that required yet more time and another report to answer. Solution Meridian created a solution in QlikView that surfaced all of the relevant financial data from the Line of Business application so the entire management team had real time access to the financial data. Benefit The CFO keeps his finger on the pulse of the business with immediate insight into the financials. The finance team is no longer in the business of creating reports and are freed up to spend their time on items core to the business.
32. Anti Money Laundering Challenge After 9/11, the Patriot Act required financial institutions to monitor every transaction for suspicious activity. Due to the nature of the Act, financial institutions had a short window of time to implement a solution to meet the mandate. This bank needed a solution that would support the integration of 26 disparate systems housed across all lines of business. Each system represented an independent architecture, data structure and technology base which varied widely and had been implemented at various times over the past 20 years. The vendor that was chosen was failing to meet deadlines and the project was in trouble. Solution Meridian met with the business and the technology groups and in a few months, developed a solution that processed 30 million records daily to determine if the transaction met the Patriot Act’s AML triggers. The automated operation of the system involved over 200 jobs with cross dependencies. Benefit The bank met the Patriot Act deadlines and the project was a success.
33. Master Data Management Challenge An organization used an application developed in house to update the Master Data Management (MDM) system. Because the supporting batch process took so long to update the MDM, it was not useful to the business. Solution Meridian landed a team to conduct a detailed analysis beginning with the business requirements, architecture, design, and code review. Within three weeks, the team identified areas of opportunity for system improvement and prototyped the changes. Benefit Meridian reduced the batch processing cycle by more than 50% enabling the business to make faster changes to the master data management system. This provided the Finance Business organization with the ability to stay in sync with the enterprise’s rapidly evolving business processes.
34. Core Banking Regression Test Assessment Challenge A large organization did not have an automated regression testing process. They relied on downstream applications systems teams to perform the regression test as part of their own release testing process. The approach was inconsistent and time consuming. Solution Meridian completed a SWOT analysis for: project methodology and process; test practices, tools, and automation; test data and test data management. Designed a data-driven regression test framework and implementation strategy to address short and long term goals. Benefit The company had a consistent and effective testing process.
35. ECC Reporting Challenge The technology group spent considerable resources building a solution for that provided comprehensive reporting capabilities but the lines of business group were not utilizing the system. Instead, the business constituents continued to leverage an application they built in Access. Solution The Meridian team held sessions with the different business teams to understand their workflows and their requirements for reporting. Benefit Meridian built a plan to bridge the gap between the current system that IT developed and a system that the business groups would use. This solution met everyone’s objectives and fostered a collaborative environment.