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Project Vision Document

1. Project Overview

Project Name: Temenos Transact Implementation Elena

Project Sponsor: Test Republic Bank

Project Manager: Mike Meier

Document Version: 1.0

Last Updated: 04/29/2025

2. Vision Statement

The vision for the Temenos Transact Implementation Elena project is to seamlessly transition Test Republic Bank's core banking functions from a legacy COBOL-based mainframe system to Temenos' cloud-based Transact product. This migration aims to modernize our banking infrastructure, ensuring uninterrupted service for our clients and enhancing operational efficiencies. The new system will be fully integrated with existing third-party applications and adhere to a user-centric design, featuring a blue-themed UX. The go-live date is set for New Year's Eve, 2025, with all accounts successfully migrated and operational.

3. Business Objectives

  • Modernize core banking infrastructure by migrating to a cloud-based SaaS solution.
  • Ensure uninterrupted access to accounts for all clients during the transition.
  • Integrate Temenos' Transact with Paymentus and LendingPad systems.
  • Automate testing procedures using Selenium.
  • Enhance user experience with a blue-themed interface.

4. Project Scope

In Scope:

  • Migration of all account information from the legacy system to Temenos' Transact.
  • Ensuring continuous client access to accounts during the transition.
  • Integration with Paymentus for payment processing.
  • Integration with LendingPad for loan origination.
  • Development and implementation of Selenium code for automated testing.
  • UX design limited to different shades of blue.

Out of Scope:

  • Migration of accounts with $100 or less (these will be closed and refunded).
  • Any changes to non-core banking functions not related to account management.
  • Non-cloud-based solutions.
  • UX design using colors other than shades of blue.

5. Stakeholders

  • Test Republic Bank Executive Team: Oversee project alignment with business objectives.
  • IT Department: Manage technical aspects of the migration.
  • Operations Team: Ensure seamless transition and continuous service.
  • Clients: End-users who will use the new system.
  • Temenos: Provide the Transact product and support.
  • Paymentus: Third-party payment software provider.
  • LendingPad: Loan Origination System provider.

6. Deliverables

  • Fully operational Temenos Transact system.
  • Migrated account data from the legacy system.
  • Integrated Paymentus and LendingPad systems.
  • Automated testing scripts using Selenium.
  • Blue-themed user interface.

7. Assumptions

  • All required resources will be available throughout the project duration.
  • Third-party vendors (Paymentus, LendingPad) will collaborate effectively.
  • Adequate training will be provided to staff and clients.
  • The legacy system will be stable enough to allow for a smooth transition.
  • All regulatory requirements will be met during and after the migration.

8. Constraints

  • The project must be completed and go live by New Year's Eve, 2025.
  • Budget limitations for the migration and integration activities.
  • Limited color palette for UX design (shades of blue only).
  • Dependency on third-party vendors for seamless integration.

9. Risks

  • Potential downtime during migration impacting client access.
  • Data integrity issues during the transition.
  • Delays in integration with Paymentus and LendingPad.
  • Insufficient user training leading to operational inefficiencies.
  • Compliance risks related to financial regulations.
Document Link
Temenos Transact Implementation Elena Project Vision Document