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Implementation of RTGS systems in two Scandinavian countries

Implementation of RTGS systems in two Scandinavian countries

Two countries in Scandinavia replaced their long running, internally developed RTGS systems with the Perago RTGS solution.

The RTGS replacement projects were complex endeavours to manage due to the fact that the replacement of sophisticated mission-critical, tailor-made and tightly integrated infrastructures is not a simple matter. If it is further considered that the replacement application was a standard off-the-shelf package then it should be clear that the alignment of functionality and business practices was a major project success factor.

The projects were not only application replacements but also the replacement of mainframe technologies with open system platforms and related infrastructures.

Project management proved to be a tough challenge and valuable lessons were learnt with respect to project governance, managing in multi-cultural and multi-vendor situations, managing across geographical distances, managing the many disciplines involved, resource management, etc.

The implementation projects covered the following activities:

  • Aligning the application and the central bank's business policies, practices, procedures of the central bank. Where alignment could not be achieved the application software was enhanced.
  • Specifying the IT infrastructure and environment required by the system
  • Implementing the application software and peripheral applications
  • Systems integration, including connectivity with SWIFT infrastructure and/or a private interbank network as well as interfacing with peripheral applications
  • Training of central bank staff
  • User acceptance testing
  • Pilot projects between the central bank and participants
  • Preparation for cutover to production

The project governance comprised executives from Perago, the prime contractor and the clients.
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