Paving the Way to Risk-free Change: Guide to consolidating IT systems and rolling out new services in a payment processing environment
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(3)Overview: As the economy continues to improve, banks and payment processors are focused on expanding market share, new product offerings and operational efficiencies as part of their long-term survival and growth strategies. New service roll-outs, migration efforts and consolidation projects are translating into a whole new set of IT performance challenges and operational risks. At the same time, IT systems are also being looked at as an integral component of a financial risk management strategy. The influx of economic stimulus and bailout funds has resulted in more government involvement within financial sectors worldwide, and the introduction of a whole new level of regulatory compliance and stringent risk management tactics. Proper planning, performance analytics, and a proactive monitoring strategy will help IT operations mitigate performance challenges and operational risk. Building an IT planning and implementation checklist is an important part of mitigating the risk associated with new service roll-outs, migration efforts and M&A consolidation projects. A good IT planning and implementation checklist will consider three stages that occur during a new service rollout, migration or systems consolidation project: Stage 1: The Planning Phase Stage 2: The Roll-Out Phase Stage 3: The Ongoing Support Phase This White Paper will delve into these three stages and provide you with some ideas on what you and your IT team should consider as you build your own planning and implementation checklist.
