How to Choose Banking Software Development Company?

It is impossible to imagine a modern bank without specialized software. Fast simultaneous servicing of thousands of customers, carrying out a large number of banking operations per day, managing the administrative and economic reality of the bank, maintaining accounting and reporting, managing and remote training of personnel, creating a single database of electronic document management in the bank – these are just a few areas of banking activity that require application special software.

How to Choose Banking Software Development Company?
How to Choose Banking Software Development Company?

How to Choose Banking Software Development Company?

Software implementation

The main stages of implementation:

  • research of the needs of the customer-bank, development of a step-by-step plan for the implementation of the software complex;
  • installation and configuration of the software shell;
  • unloading data from systems previously used by the customer;
  • loading data into the embedded software, finding and eliminating errors related to data transfer;
  • completion of the implemented program according to the needs of the customer;
  • training of bank employees and launching the software into commercial operation;
  • maintenance of the software package during the operation period.

In the process of implementing the program, the developer prepares the following types of documentation:

ü technical task;

ü programmer’s guide;

ü user’s manual.

The terms of reference describes the entire set of requirements for the software product and contains all the necessary criteria for checking and accepting the developed program. The terms of reference is one of the main documents in the development of a software product.

At the same time, during the implementation of the software, the content of the technical task can be supplemented and reworked.

The Programmer’s Guide describes software from a program development point of view. This manual is required to maintain and upgrade the program.

The user manual contains information necessary for the installation and operation of the program by users.

developer company, employees of the IT department of the bank and employees of the specialized departments of the bank, whose work will be directly affected by the developed program.

For example, to implement an electronic document management system for corporate lending, a working group is created consisting of the developer’s employees, as well as employees of the bank’s departments – IT services, bank security services, employees of the client, credit, mortgage and legal departments. The working group, as a rule, includes the heads of these departments.

Bank employees begin interaction with banking software development company at the first stage – at the stage of setting the technical task to the developer.

Bank employees explain to the developer the scheme of business processes, the scheme of interaction between the bank’s divisions, their functionality, tasks and results of tasks performed by the divisions involved in the process.

Further, the developers are tasked with unloading the necessary data from external programs and loading them into the program being implemented. At this stage, employees of the bank’s specialized divisions are also directly involved in setting the task for the developer.

After converting the data and creating the first workable version of the program, the developers conduct a presentation of the program and initial user training. The program is transferred for test operation to the specialized divisions of the bank.

According to the test results, the necessary changes and additions are made, errors in the program are corrected. After testing and finalizing the program, the developers conduct training for all end users and the software is accepted into commercial operation.

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