Since the 1980s, global banks have invested heavily in software, hardware, and infrastructure to enable core banking, payment infrastructure, multi channel capabilities and various processing hubs within domestic and international circuits. However, as building blocks of these assets have been layered on existing infrastructure, banks, on many occasions, have already developed silos of applications and infrastructure – this impacts the traceability and control of the overall investment across the organization. Various techno-functional architecture teams across the banking industry are trying to address this complexity with multiple integration solutions, service based frameworks and creation of efficient hubs while revisiting the future technology needs enabling the flexible and agile needs of this industry.
Master process Exchange (MPX) is a framework for classifying, storing, and organizing Process Information constituting an identified business area covering the breadth and depth of the numerous modules in the Banking environment representing 'Bank-in-a-Box' concept. Being user-friendly, it enables organizations to manage “N” levels of functional decomposition of Business Processes and Change Control over multiple phases in a program.
The framework can encapsulate the entire business operation across the bank with identification tags. In the framework, each line of business, such as Retail, Corporate and Investment banking, is mapped with entire customer offerings (L0), high-level process lifecycle (L1) and related services to these processes (L2) of each LOB and sub-LOB, and with further decomposition (upto Ln) for the specific services in each L2. In other words, this framework can be used to decompose the entire business operations across all lines of banking business. Once this extensive taxonomy is created with proper identification numbering, it can be wired across multiple business operations in logical groups
MPX combined with accelerated methodology offers the following advantages:
- It enables implementation of banking solution with minimal gestation period.
- It offers a non-disruptive approach that has minimal business impact.
- It considers important features for Business Launch, and deferrable features for subsequent launches.
- It encourages bank users to acclimatize during initial Business Launch, gain early buy-ins and further refine business clarity.
- It enables bank users to have a feel of the product and discover additional requirements as they use the system.
MPX is a champion methodology for global rollouts and implementations. It serves to:
- Capture and document the processes (in its entirety), process touch-points, interfaces, handoffs, break-points and business rules
- Connect business knowledge to systems, processes and users
- Communicate the knowledge in an understandable form to educate the user and thus influence the intended outcome
- Facilitate development and improvements of business functionality and processes