At a Glance
- Client: A major commercial bank in Hong Kong
- Domain: Payment Processing, SWIFT & CHATS RTGS
- Scope: Full migration of the bank's payment back-office core from IBM mainframe (COBOL) to an open platform, including MT-to-ISO20022 message upgrade, CHATS RTGS integration, and integration with core banking, AML, and risk systems
The Challenge
The bank's SWIFT and Hong Kong CHATS payment processing system had been running on an IBM mainframe for many years, built in COBOL and tightly coupled with legacy infrastructure. The platform had become a strategic bottleneck: high mainframe operating costs, an aging user interface that was unfriendly to operations staff, and an architecture that could not keep pace with the bank's digital transformation agenda. At the same time, the bank needed to meet the industry-wide migration from SWIFT MT to ISO 20022 messaging standards - a complex change that would ripple through every payment channel. The bank required a partner capable of executing a high-risk, large-scale migration while simultaneously upgrading the message format, all without disrupting daily payment operations for corporate and retail customers.
Why They Chose Us
The bank selected our team based on two decisive factors:
1. Proven project delivery capability: A track record of delivering complex, mission-critical payment system migrations on time and with minimal risk.
2. Rare dual-platform expertise: Our consultants are fluent in both legacy mainframe COBOL environments and modern open platforms. This dual mastery allowed us to communicate seamlessly with the bank's existing IT teams, understand the nuances of the legacy system without requiring exhaustive documentation, and bridge the gap between old and new with precision.
Key Value Delivered
- Cost reduction and operational efficiency: Eliminated mainframe operating costs and moved the bank to a more flexible, cost-effective open platform.
- ISO 20022 readiness: Positioned the bank ahead of the industry's mandatory migration timeline, with native MX message support and a future-proof architecture.
- Improved user experience: The new platform offers a modern, intuitive interface for back-office operations, addressing the long-standing complaint of a user-unfriendly legacy system.
- Risk-managed cutover: The big-bang migration was executed with zero disruption to daily payment operations, thanks to rigorous parallel testing and disciplined project management.
- Single-point accountability: As the client noted, having one focal point for all project matters dramatically simplified communication and accelerated decision-making.
This case demonstrates our ability to handle the most demanding payment core migrations - combining deep domain expertise in SWIFT and CHATS with a delivery methodology that instills confidence and delivers results.