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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