As qualified IT professionals we have a wealth of knowledge and can offer practical advice on many software problems. Our expert team can work side-by-side with your teams to provide guidance and assurance throughout sensitive and high-risk projects. We also offer a valuable layer between 3rd party software vendors and your business, ensuring that the software you are buying is right for your needs with independent and impartial advice.
We specialise in the development of GUI, Server and Web applications, and our developers are highly skilled in project development.Read Case Study
We have extensive experience of Misys's retail banking solution Bankmaster / BM+ and Temenos™ T24 banking solution and offer all types of development services.Read Case Study
As qualified IT professionals we have a wealth of knowledge and can offer practical advice on many software problems. We provide a valuable layer between 3rd party software vendors and your business, ensuring that the software you are buying is right for your needs.Read Case Study
Fairmort has extensive experience of core banking system selections, deep knowledge of the market and its solutions and we would be keen to work with the Bank to determine the specific needs and to assist the Bank to carry out the selection process.
Fairmort recognises that every Bank may have a slightly different approach in mind and Fairmort is happy to revise its approach accordingly.
Based on our extensive experience, we feel there are a number of aspects that might be worth flagging and considering when entering into this project:
Whilst we recognise that the Bank probably wishes to make a quick decision, the selection needs to be thorough and methodical; it must be fair to all vendors involved; and there must be clear audit trails and accountability for each step and decision. The process should show that due diligence was applied. The selection team needs to be able to answer questions from senior management and stake holders such as, why were particular vendors chosen for the shortlist and for receipt of the RFP? How were the shortlisted vendors evaluated? How were reference sites selected?
In our experience time and effort spent at the selection stage will greatly reduce implementation risk and costs. Poor selection can result in compromised results and, in some eventualities, outright failure. All relevant suppliers should be considered prior to the shortlist definition stage. And all relevant users within the bank should be involved in the requirements definitions to ensure early visibility and buy-in from the eventual recipients of the system. The selection process must be carefully communicated to vendors. The vendors must not be allowed to make unsolicited approaches to the bank management; the bank must not run the risk of deterring suppliers from responding and committing to the selection process because they feel it is a less than level playing field in relation to other suppliers. Fairmort have seen selections where this aspect persuaded suppliers to ‘no-bid’, which potentially excluded an appropriate system from the selection process.
In addition it is usually healthy that there is fair competition to ensure the Bank receives value-for-money from its investment. In our experience our knowledge of the vendors, their products and market pricing mean the fees paid to Fairmort will normally be more than covered by the discounts received on the licences or service purchased. Fairmort has highly detailed requirements templates and proven methodologies for all areas of systems selection across all areas of banking. As well as systems selection experience Fairmort also has over 20 consultants working across the world on core system implementation projects