CASE STUDIES
Instant Payments
Implementation of Instant Payments
Service at a Major Croatian Bank
CASE STUDIES
Instant Payments
Implementation of Instant Payments
Service at a Major Croatian Bank
Challenge:
In 2023, TIS GRUPA was tasked with supporting one of Croatia’s largest banks in integrating the Instant Payments service into its portfolio. Instant payments, a revolutionary financial service, enable users to transfer money instantly—within 20 seconds—across banks participating in the NKSInst system. The project’s challenges included ensuring seamless integration, aligning with a large number of stakeholders, and meeting strict deadlines for full implementation by mid-December, all while ensuring a secure and user-friendly system.
Solution:
TIS GRUPA was engaged to support the deployment of Instant Payments, a service that allows users to send funds instantly within the same bank or to another bank within the same clearing system. The service, which is available 365 days a year, is designed to make money transfers both fast and secure. The key to the project’s success was the involvement of external project management, which led to the engagement of Alan Budak as the external project manager. Alan, who heads TIS’s project management department, played a crucial role in coordinating the implementation and ensuring timely delivery.
The main components of the solution included:
1. Operational Project Management: Alan Budak was responsible for overseeing the operational aspects of the project, including controlling deadlines, managing the project budget, ensuring quality through careful planning and testing, and facilitating proactive communication with multiple stakeholders. His ability to manage complex processes, coupled with his experience, ensured a smooth and timely rollout of the Instant Payments service.
2. Stakeholder Coordination: The project involved a significant number of departments within the bank, which required effective coordination to avoid delays. Alan worked closely with project sponsors, the steering committee, and various functional, business, and technical teams to ensure the project remained on track. Regular updates on progress, identified risks, and deviations from the plan were communicated to stakeholders, ensuring that obstacles were swiftly addressed.
3. Multilingual Communication: The project required collaboration with international experts, which introduced complexities in communication. Alan’s team managed these challenges efficiently, ensuring that communication was clear and consistent across multiple languages and regions. This multilingual approach helped build strong relationships with global partners and ensured the project’s success.
4. Testing and Quality Assurance: The introduction of Instant Payments required thorough testing to ensure the service met both regulatory requirements and customer expectations. Alan’s proactive management of the testing phase helped identify and resolve issues early, ensuring that the service was ready for deployment by the target date.
Results:
Successful Integration and Timely Launch:
Thanks to Alan’s leadership and the collaboration between TIS GRUPA and the bank’s project teams, Instant Payments was successfully integrated and launched on schedule, meeting the December deadline for full production.
Improved Stakeholder Collaboration:
The project’s success was driven by Alan’s ability to manage a large number of stakeholders and ensure clear communication. His efforts led to smooth coordination across departments, enabling the timely removal of barriers and addressing any issues as they arose.
Award-Winning Performance:
The successful delivery of the Instant Payments service was recognized a year later when the project won the Product Factory Excellence Award. This achievement highlighted the successful implementation of the service and the value that TIS GRUPA’s project management brought to the bank.
Ongoing Collaboration:
The collaboration between TIS GRUPA and the bank continues to thrive. Alan’s involvement in the project not only ensured a successful launch but also laid the groundwork for the ongoing optimization and enhancement of the Instant Payments service.
Conclusion:
The introduction of Instant Payments was a significant milestone for the bank, enabling it to offer a modern and efficient payment solution to its customers.
Through strategic project management, seamless collaboration, and expert coordination, TIS GRUPA helped ensure the project’s success. The award-winning project not only demonstrated the bank’s commitment to innovation but also reinforced the importance of strong leadership and efficient communication in complex, cross-functional projects.
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