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Project Vision Document

1. Project Overview

Project Name: Mike's Fantastic Banking Project

Project Sponsor: Fantastic Bank

Project Manager: Mike Meier

Document Version: 1.0

Last Updated: 02/05/2025

2. Vision Statement

To modernize Fantastic Bank's core banking system by replacing a 40-year-old COBOL-based system with the latest Temenos Transact R24 core banking system, while integrating third-party applications for payments and loan origination, ensuring a seamless transition for the bank's 250,000 customers.

3. Business Objectives

  • Replace the legacy COBOL-based core banking system with Temenos Transact R24.
  • Integrate Paymentus for payment processing instead of the Temenos Payments Hub (TPH).
  • Implement LendingPad for loan origination instead of Temenos' LOS.
  • Complete the project within six months.
  • Ensure zero disruption to the bank's current 250,000 customers during the transition.
  • Purge and close accounts with $100 or less, and refund customers by check.
  • Develop necessary code to connect Temenos Transact's APIs.
  • Implement Selenium code for automated testing.
  • Ensure the UX design uses only different shades of blue.

4. Project Scope

In Scope:

  • Replacement of the core banking system with Temenos Transact R24.
  • Integration of Paymentus for payment processing.
  • Integration of LendingPad for loan origination.
  • Development of API connection code for Temenos Transact.
  • Development of Selenium code for automated testing.
  • UX design adhering to the color scheme of different shades of blue.
  • Purging and closing accounts with $100 or less and refunding customers.

Out of Scope:

  • Use of Temenos Payments Hub (TPH) for payment processing.
  • Use of Temenos' LOS for loan origination.
  • Enhancements to existing third-party applications beyond integration.
  • UX design using colors other than shades of blue.
  • Manual testing beyond automated testing with Selenium.

5. Stakeholders

  • Fantastic Bank Management
    • Role: Sponsor, decision-makers
  • Mike Meier
    • Role: Project Manager
  • Fantastic Bank's IT Department
    • Role: Implementation, support
  • Temenos
    • Role: Vendor, technical support
  • Paymentus
    • Role: Vendor, technical support
  • LendingPad
    • Role: Vendor, technical support
  • Fantastic Bank Customers
    • Role: End-users

6. Deliverables

  • Fully implemented Temenos Transact R24 core banking system.
  • Integrated Paymentus payment processing system.
  • Integrated LendingPad loan origination system.
  • Completed API connection code for Temenos Transact.
  • Selenium scripts for automated testing.
  • UX design adhering to the specified color scheme.
  • Closed and refunded accounts with $100 or less.

7. Assumptions

  • All stakeholders will provide timely feedback and support.
  • Necessary resources and budget will be available throughout the project.
  • Third-party vendors (Paymentus, LendingPad) will cooperate and provide necessary integration support.
  • Customer data migration will proceed without major issues.
  • Automated testing with Selenium will cover all critical functionalities.
  • UX design constraints will not hinder user experience quality.

8. Constraints

  • The project must be completed within six months.
  • No disruption to the bank's current 250,000 customers.
  • All accounts with $100 or less must be purged and refunded.
  • UX design must only use different shades of blue.
  • Limited to using Paymentus and LendingPad instead of Temenos' native solutions.

9. Risks

  • Risk 1: Potential delays in integration with third-party applications (Paymentus, LendingPad).
  • Risk 2: Data migration issues that could impact customer accounts.
  • Risk 3: Insufficient automated testing coverage leading to undetected issues.
  • Risk 4: Potential resistance to change from internal staff accustomed to the legacy system.
  • Risk 5: UX design limitations may impact user satisfaction.

Prepared by: Mike Meier
Email: mikemeier@mad-tech.ai
Date: 02/05/2025

Document Link
Mike's Fantastic Banking Project Project Vision Document