Operations-Readiness Checklist

Category	Requirement	Required	Recommended
Communication	Design communication plan for all incident types. Include plan in service level agreements Implement real-time interface for incident management with Audio, Video and Text capabilities. Implement ticket management systems / processes Onboard partners on TMS and communications platforms.	AP
Monitoring	Design KPI gathering and storage architecture Implement performance and availability gathering mechanisms, plug into reporting module, publish over APIs if feasible. Setup visual aids and triggers for alerts	AP	TPP
Incident Management	Document incident management plan with clear operational processes to meet SLAs, align with communication plan. Keep an open register of incidents and categorize per type, log each occurrence. Track and report incident and resolution occurrences Escalate recurring incidents to problem management Keep lessons learnt and knowledge base repositories	AP	TPP
Business Continuity Plan	Document business continuity plans, detailing processes, responsibilities and redundancies provided. Ensure detailed steps are enumerated and design to meet SLAs. Schedule review and failover activities for the year Track results and problems	AP, TPP
Problem Management	Inaugurate a problem register detailing issue type, date, symptoms, stop-gap, resolution plan and dates	AP	TPP
Change Management	Institute change register maintenance and change management process and owned by appointed Change Advisory Board members Ensure change notification schedules are implemented as recommended and employ technology tools where possible.	AP
Reporting	Design reporting templates and systems, and plug-in to data sources. Note recommended report data Ensure reports are segmented per participant Automate reporting where possible.	AP
Accounting & Financial Management	Capture billing arrangements within business/service contracts. Design and document accounting procedures to provide clarity between operations, accounting and business management personnel. Create process for updating this process with new products/services	AP	TPP
Reconciliation	None
Settlement	Adhere to guidelines regarding switching operations. Ensure inter-participant settlement operations are clearly defined to amounts, timing, defaults, overdrafts etc.	AP, TPP
Dispute Resolution	Implement systems to track & maintain required SLA Implement consumer interfaces for raising and communicating updates on disputes Design and operationalize inter-participant dispute management processes. Train operational personnel for Open Banking related disputes and procedure handbook to guide action.	AP
Fraud and Liabilities	Design and operationalize fraud management processes Establish legal and business framework for treating liabilities Implement controls to ensure compliance at all levels	AP