Project Vision Document

1. Project Overview

Project Name: Elena's BRD

Project Sponsor: THE BANK

Project Manager: Mike Meier

Document Version: 1.0

Last Updated: 04/29/2025

2. Vision Statement

The vision of this project is to implement a comprehensive payment solution for lending products at THE BANK, ensuring seamless, automated, and efficient payment operations across various loan lifecycle stages, while integrating with legacy systems and enhancing error handling and reconciliation processes.

3. Business Objectives

• Implement a robust payment solution for loan disbursements and repayments.
• Ensure 24/7 availability for critical payment operations via middleware integration.
• Enhance error handling and reconciliation processes between T24 and legacy systems.
• Improve customer experience through efficient and timely processing of loan-related payments.

4. Project Scope

In Scope:

• Payments / Funds Transfers relevant for Lending products covered in Phase 1:

  • Mortgages (products for retail, currently in the legacy system)
  • Consumer finance (products for retail, currently in the legacy system); except for credit cards and overdrafts

• Types of payment operations / funds transfers within loan lifecycle:

  • Loan Disbursement, including refinancing scenarios
  • Loan Repayment – regular
  • Loan Repayment – extraordinary – via branch and digital channel
  • Pay Off – early repayment to enable loan closing
  • Past Due repayment
  • Charges – funds transfer from client current account
  • Bad debt loan portfolio sale

• Supporting operations:

  • Error handling – operations to support manual corrections
  • Reconciliation of technical "nostro" accounts between systems

Out of Scope:

• Definition of transaction types in T24 and their linkage to AA lending activities
• Presentation of transaction history from loan accounts in channels and loan account statements
• Definition of lending area charges and any triggers for charge execution
• Requirements towards opening of internal technical "nostro" accounts in T24 or The legacy system
• Requirements towards opening of settlement accounts (current – client, technical) or past-due technical accounts in The legacy system
• Any requirements towards Mortgage for young citizens
• Any cash operations

5. Stakeholders

• THE BANK: Project Sponsor, responsible for overall project governance.
• Mike Meier: Project Manager, responsible for project execution and delivery.
• Loan Origination System (LOS) Team: Provides and integrates disbursement requests.
• Middleware Team: Ensures 24/7 availability and interacts with legacy systems.
• Back Office Users: Manages manual corrections, reconciliations, and error handling.
• Digital Channel Team: Integrates extraordinary repayment functionality via mobile app.
• Payment Department: Ensures proper setup and processing of payment transactions.

6. Deliverables

• Functional requirements documentation
• Integration with the legacy system for payment operations
• Implementation of online and file-based processing patterns
• Error handling and reconciliation mechanisms
• User guides and training materials for back office staff

7. Assumptions

• THE BANK will use TPH instead of FT module for payment processing.
• Payment order functionality in T24 will be used as a utility to carry information received to complete extraordinary repayment from external channels.
• The amount of the extraordinary repayment order is according to the rules identified in the lending PLWs.
• For each currency, one technical nostro account in T24 and in The legacy system will be opened.
• Payment order processing from T24 to The legacy system will be done 7 days a week, before respective cut-off times.
• Cyber Payment Chain project requirements should be assessed, currently, E2E integrity is not expected to be covered.

8. Constraints

• Legacy system is not available 24/7, requiring middleware for 24/7 operations.
• Integration with existing legacy systems and middleware must be maintained.
• Manual corrections resulting from incorrect inputs on the product level will be the responsibility of the product owner.
• The generated files for regular and past-due repayments must be processed in The legacy system.

9. Risks

• Risk 1: Integration issues between T24 and legacy systems.
• Risk 2: Delays in middleware response affecting transaction processing.
• Risk 3: Manual correction processes may introduce errors if not handled properly.

Prepared by: Mike Meier
Email: mikemeier@mad-tech.ai
Date: 04/29/2025