Purchase and Implementation of Core Banking Solution Tender, Barbados - 46106185

Procurement Summary

Country : Barbados

Summary : Purchase and Implementation of Core Banking Solution

Deadline : 26 Oct 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

Purchaser's Detail

Purchaser : CARIBBEAN DEVELOPMENT BANK
P.O. Box 408 Wildey, St. Michael Barbados, W. I. BB11000 Attn: Mr. Earl J. Estrado - Director (Ag.), Finance and Information Technology Solutions Tel: 1 246 539 1617 / 1622 Mobile: 1 246 826 4110 Email: estrade@caribank.org
Barbados
Email :lms-rfp-financial@caribank.org
URL :https://www.caribank.org/

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: estrade@caribank.org
Copied to:
Mrs. Faye Hardy, Deputy Director (Ag.) at barnesf@caribank.org
Mr. Julio Cesar Goncalves Lima, Chief Information Officer at limaj@caribank.org
Mr. Marcelo Lima, IT Officer at limam@caribank.org
All inquiries must be directed to the contact person and are subject to the contact provisions
elsewhere in this RFP.

Documents

 Tender Notice