The Client: Bank of Canada
The Department of Banking Operations' banking systems underpin Canada's clearing and settlement systems for domestic payments, securities and foreign exchange trading. They are vital to the Bank of Canada's commitment to Canadians to promote the safety and efficiency of Canada's financial system.
Project: Banking System Renewal Project (BSRP)
Development of the current generation banking systems began in the early 1990's with the last implementation in 1998. These applications were based on technology and system delivery approaches dating from the 1980's. The business and technology landscapes have changed significantly since these systems were implemented. While the Bank has been successful in adapting these systems to changes over time, the operational costs and risks gave rise to a new project called the Banking System Renewal Project (BSRP).
BSRP is a large multi-faceted project which serves to migrate the existing technology and application platform supporting the business operations to a new architecture operating on current mainstream technology. The goal of the initiative is to reduce operational risk while increasing the responsiveness of the application to changing business requirements.
Thinknostic has played a key role with several organizations within the Bank to assist in the delivery of the new application platform. The Thinknostic team has provided core services in many areas including:
- Senior Technology Architecture
- Business analysis to support software development and on-going operational requirements
- Software development
- Database administration
- User interface design
- Application testing and documentation
In preparation for the delivery of HABS, Thinknostic has also provided management and operational support to the DMS group within the Bank of Canada. The Data Management Services group within the Bank of Canada is responsible for the on-going operation, support and maintenance of all data systems within the Bank.