Purchase and Implementation of Core Banking Tender - 46106185

Procurement Summary

Country: Barbados

Summary: Purchase and Implementation of Core Banking Solution

Deadline: 26 Oct 2020

Posting Date: 28 Sep 2020

Other Information

Notice Type: Tender

TOT Ref.No.: 46106185

Document Ref. No.:

Competition: ICB

Financier: Caribbean Development Bank (CDB)

Purchaser Ownership: -

Tender Value: Refer Document

CPV Classification

66110000 - Banking services

Purchaser's Detail

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Tender Details

Request for Proposal are invited for Purchase and Implementation of Core Banking Solution.
1.2. Project Objectives

This RFP’s objective is for CDB to identify and select the most appropriate software vendor(s) for

its cloud core Banking application requirements.

The Bank desires to obtain financial and operational efficiencies utilising, to the extent possible, a

fully integrated and seamless system that provides operational efficiencies and enables the

implementation of sound business practices based on timely and accurate information.

The application(s) to be implemented will enable the Bank to:

• Have the most technologically up to date information systems

• Drive financial, operational, and strategic objectives

• Facilitate sound decision making by the provision of timely and accurate financial and

operational information

• Secure the Bank’s information through the implementation of high-quality security

features, disaster mitigation systems and procedures

• Reduce or eliminate superfluous/ redundant processes and to have a user focused,

flexible, accurate system

• Install a system that is robust, flexible, and secure
1.2.1. Project Background

The current solution was implemented several years ago and does not provide scope for access to

a ‘best in class’ Core Banking Solution that is technically and operationally suited to the Bank’s

current and future operations and is capable of supporting the Bank’s transformation strategy

relating to IT services and support, digitalisation and corporate operations generally.

1.2.2. Current Banking Solution Landscape

The current Banking solution system, comprises various modules that support the minimum

requirements for the Bank’s products, structures and interfaces, as follows: -

PRODUCTS

• Loans

o Direct loans to Borrowers – Public sector

o Direct loans to Borrowers – Private Sector

o Loans to Financial and other intermediaries

o Intermediaries/ Executing Agencies for loans from other MDBs, Government

entities and Development Agencies

• Borrowings

o Market Borrowings

o Borrowings from other MDBs

o Borrowings from Government development entities/ Agencies

o Private placements

o Commercial Bank borrowings

o Derivative cash flow computation

• Lines of Credit [LOCs]

o Commercial Bank short term LOCs

o Medium to long term LOCs from other MDBs, Government entities and

Development Agencies for on-lending

• Grants

o Grants from the Bank’s resources for Technical Assistance; Emergency

events; Disaster recovery interventions

o Executing Agency for Grants from other MDBs, Government entities and

Development Agencies to countries and other entities

o Technical Assistance Grants for specific undertakings

o Repayable Contributions [Borrowings for concessionary lending]

o Other non-repayable contributions
STRUCTURE

o Multi-currency,

o Conversion/ translation to single reporting currency [USD]

o Adaptable to a Flexible Multi-level and flexible account code structure

including

â-ª Unit

â-ª Tranche

â-ª Fund

â-ª Fund Group

â-ª Consolidated Fund Group

• A reporting system

o Transaction reports –

â-ª Month

â-ª YTD

â-ª Actual vs Budget/ Approved/ Drawdown [Received] amounts

• Reports delivered in various formats – Excel/ PDF etc.

• Dashboards

INTERFACES

The Bank runs various other systems to which the Banking solution is required to interface: -

• Infor SmartStream ERP system

• Bloomberg

• ICE

• IBM Cognos Reporting

• Microsoft PowerBI Report

• Microsoft Dynamics 365

• SWIFT Payments system (Auto Client)

While the provider will not be responsible for creation and maintenance of the interface modules,

support will be required to ensure that data transfer and integrity is maintained in the interface

process
3.1. CDB Contact Person

CDB contact person for submission of this RFP is:

Mr. Earl J. Estrado

Director (Ag.), Finance and Information Technology Solutions

Tel: 1 246 539 1617 / 1622

Mobile: 1 246 826 4110

Email: [email protected]

Copied to:

Mrs. Faye Hardy, Deputy Director (Ag.) at [email protected]

Mr. Julio Cesar Goncalves Lima, Chief Information Officer at [email protected]

Mr. Marcelo Lima, IT Officer at [email protected]

All inquiries must be directed to the contact person and are subject to the contact provisions

elsewhere in this RFP.

Documents

 Tender Notice