Project Vision Document

1. Project Overview

Project Name: Transact New Implementation

Project Sponsor: Test Republic Bank

Project Manager: [Project Manager]

Document Version: 1.0

Last Updated: 04/28/2025

2. Vision Statement

The Transact New Implementation project aims to seamlessly transition all customer accounts from Test Republic Bank's 30-year-old legacy mainframe banking system to Temenos' Transact cloud-based core banking solution by New Year's Eve, 2025. This transition must be achieved without disrupting customer access to accounts, ensuring a smooth, secure, and efficient migration.

3. Business Objectives

• Replace the outdated Cobol-based legacy system with a modern, scalable, and secure cloud-based SaaS solution.
• Ensure uninterrupted access to accounts for all clients during the migration process.
• Successfully purge and close all accounts with $100 or less, refunding the account holders by check.
• Integrate Transact with third-party software, including Paymentus for payments and LendingPad for loan origination.
• Implement automated testing using Selenium to ensure robust and error-free performance.
• Adhere to branding guidelines by using only different shades of blue in the user experience design.

4. Project Scope

In Scope:

• Migration of all account information, including checking, savings, CDs, Money Market accounts, mortgages, credit cards, car loans, and personal loans.
• Continuous access to accounts for clients throughout the migration process.
• Purging, closing, and refunding of accounts with $100 or less.
• Integration with Paymentus and LendingPad.
• Development and deployment of Selenium automated testing scripts.
• User experience design limited to different shades of blue.

Out of Scope:

• Migration of non-retail accounts.
• Development of new features outside of the Temenos' Transact product.
• Major redesign of the user interface beyond color adjustments.
• Changes to third-party software beyond integration requirements.

5. Stakeholders

• Test Republic Bank Executives: Oversee strategic alignment and approve project deliverables.
• IT Department: Responsible for technical implementation and integration.
• Customer Service Team: Handle client communication and support during the transition.
• Third-Party Vendors (Paymentus, LendingPad): Provide support for integration.
• Temenos: Supplier of Transact solution and support services.
• Customers: End-users of the banking services.

6. Deliverables

• Fully operational Temenos' Transact system by New Year's Eve, 2025.
• Seamless migration of account data with no service interruption.
• Closed and refunded accounts with $100 or less.
• Integrated Paymentus and LendingPad systems.
• Selenium automated test scripts.
• User interface adhering to the specified color scheme.

7. Assumptions

• Legacy system data is complete and accurate.
• Third-party vendors will provide necessary support for integration.
• Adequate resources and budget are available for the project.
• All stakeholders will cooperate and communicate effectively.
• Regulatory requirements will remain stable.

8. Constraints

• Fixed deadline of New Year's Eve, 2025.
• Limited to using only shades of blue in the user interface.
• Must maintain continuous access to accounts for clients.
• Budget limitations for project implementation.

9. Risks

• Potential for data loss or corruption during migration.
• Integration challenges with third-party software.
• Unanticipated regulatory changes.
• Resource constraints leading to project delays.
• Customer dissatisfaction due to any disruption in account access.

Prepared by: Mike Meier
Email: mikemeier@mad-tech.ai
Date: 04/28/2025