The banking industry has seen far-reaching changes in the last decade or two. New niche players have entered the market and challenged established full-service banks. New distribution channels and services have increased the need for fast and flexible systems development. Meanwhile, there has been exponential growth in banking regulation.
Increased disclosure requirements create a need to collect and process huge amounts of data. Applying the new rules in a way that is supportive to risk management and facilitates effective capital allocation creates a key competitive advantage.
Omeo’s clients range from the large commercial banks to smaller niche players. We offer project management based on our extensive operational expertise and specialist knowledge of the banking sector.
Examples of services provided to banking clients
- Requirements specification and operational support for implementation of new back office and front office systems
- Requirements specification, operational support and test management for implementation of new ERP and bank treasury management systems
- Support for compliance function in interpreting new CRD IV regulations in COREP, disclosure, liquidity coverage ratio and related areas
- Process mapping to streamline and standardise financial processes at a niche bank with international operations
- Project management of transition to a new back office platform for equity, fixed income and currency trading at a major bank
- Construction of hedge accounting solution (including management of basis spreads) and implementation of bank treasury system support
- Procurement and implementation of a new back office system for OTC derivatives at a major bank