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Finastra
ENHANCEMENT REQUEST PROCESSTopic of the Month – Fusion Loan IQ
John PAYNELead Product Manager
August 2019
Finastra |
WELCOME TO THE FINASTRA TOPIC OF THE MONTH!
Format: 30-45 min presentation by Finastra, 15 min Q&A, Survey
Topics: Product features new / little known / under spotlight; Market / businesschanges impacting the lending business; changes in Finastra services andprocesses
Purpose: Share information and views > helping us understanding clientrequirements and helping clients understanding our products and services
Schedule: once a month or more across Finastra, for Loan IQ 3-4 per year.Scheduled events in the SAG section of Documentation Portal. Invitations sent 2weeks in advance to mailing list. Open for topics suggestions (can use Survey)
Stored on Documentation Portal (Tutorials tab)
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Finastra |
AGENDA
SDK vs Enhancement
Enhancement Request Process
Business Detail Form (BDF)
Q&A
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Finastra |
SDK OR ENHANCEMENT?
Software Development Kit (SDK) is a set of tools that allow to extend the Loan IQ capabilities
It can be used by Finastra or – upon training – by clients and third parties
Assess requirement:- can be met by system configuration?
- is it already available in latest Loan IQ version – and can wait until upgrade?
- is it included in roadmap – and can wait until expected date?
- is it client-specific (e.g. interface with own current accounts system) or can probably be of use to all or many Loan IQ clients?
If requirement is client-specific or if it cannot wait, then SDK is the preferred solution
Otherwise, proceed to Enhancement Request
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Finastra |
ENHANCEMENT REQUEST PROCESS: PROBLEMS IDENTIFIED
Raisers of requests believed they had raised a request with the appropriate personnel and in the appropriate manner, when they had not.
Raisers of requests believed their enhancements had been agreed to, when they had not.
Raisers of requests assumed that an enhancement was going to be included in a particular release, when it was not.
Raisers of requests could not easily find out the status of their request.
Raisers of requests could not easily find out why a request had been rejected.
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Finastra |
WHY?
Communication (emails, calls) sent to individuals - not to defined groups
• Sent to wrong people and assumed to be actioned
• Individuals moved or left the company.
Non response was seen as confirmation of enhancement/release version.
Responses from various Finastra teams (Support, Business Analysts, Development, Customer Advocates, Global Services, etc.) was seen to be from Product management.
Enhancement request tracked in multiple locations: emails, spreadsheets, official systems (SFDC/Jira)
• Multiple points of failure.
Communication was non standard i.e. calls, emails.
• Higher probability of miscommunication or loss of communications.
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Finastra |
THE SOLUTION: A NEW PROCESS WITH:
One single point of entry (SFDC)
Clear communication methods
Defined responsibilities for each step
PDF with full process attached for reference
The Enhancement Request Process is available on the
documentation portal under the Business tab (as below):
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Finastra |
OVERVIEW OF THE PROCESS
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All requests to be entered in SFDC with:
• Case record type = Loan IQ
• Case Category = Enhancement Request
• Sub Status = Product Management
BDF (Business Detail Form) to be completed and attached to the SFDC Case
• Used to be ERF (Enhancement Request Form)
• Should focus on Business rather than on Enhancement – hence the new format and name
Product Management will Triage the SFDC Case (weekly meeting)
• If denied, SFDC updates
• If accepted, a JIRA ticket is created and its reference is posted to the SFDC Case
Finastra |
OVERVIEW OF THE PROCESS
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Product Management assigns the Case to a Business Analyst
The Business Analyst might suggest a workaround to the requestor.
• If accepted, document in SFDC and close Case
The Business Analyst designs a high level solution and presents it to the Enhancements Committee
If the Enhancements Committee declines the solution, SFDC is updated with the reasons for rejection
Otherwise, a basic T-shirt size estimate is determined
Process continues as today
Finastra |
BUSINESS DETAIL FORM
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Focus on business requirement rather than on design of solution
Providing info – even if partial – on potential interest to other clients can help raising the priority of the enhancement within Finastra.
Could be discussed in User Groups, Working Groups (= Operations Group in the US, European Working Group elsewhere), Chatter Group.
Added questions to gauge impact on requesting client – and on general client base (see next slide)
The Business Detail Form template is hosted on the documentation portal in the following location - Business Tab > Enhancement Request Process.
Finastra |
BUSINESS DETAIL FORM – NEW QUESTIONS
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What product or business lines does this impact?
What is your average daily or monthly volume for this scenario or transaction type?
If request is based off a language in a credit agreement, please provide one or more samples of the credit agreement language
If request is based off of a regulation, please cite specific relevant regulatory language
Please state if you believe this to be market standard behavior or if this is a requirement specific to your institution, region, etc.
Is this enhancement is a change to a specific existing module, if yes please mention the module ?
Finastra |
NEXT STEPS
12 August 2019 12
In one minute
• Questions and Answers
Later today
• Send Presentation PDF and link to Survey
• Post Presentation PDF and recording on Documentation Portal (Tutorial tab)
Survey
• Rate this session
• Suggest topics for future TOM sessions
• State your organisation’s interest in the features presented
Anytime
Finastra |
QUESTIONS AND ANSWERS
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Finastra |
@FinastraFS
Finastra LinkedIn
Finastra YouTube
Thank [email protected]@finastra.com
12 August 2019
