Project Details

Project Description

Saudi Central Bank (SCB) is the central bank of Saudi Arabia, whose major functions include: (i) Issuance and management of the national currency (the Saudi Riyal), (ii) Supervision of financial institutions based in the Kingdom, (iii) Management of foreign exchange reserves, (iv) The promotion of price and exchange rate stability, (v) Ensuring the growth and soundness of the financial system, (vi) acting as the house bank for all Saudi government departments.

To support these functions, SCB maintained an extensive series of in-house systems involving manual or end-user computing solutions which were subjected to the Programme of Renewal. As part of this programme, relevant active and historical information had to be transferred to or integrated with the new systems to ensure a seamless transition for SCB.

The successful transformation of the system landscape at SCB (GoLive July, 2021 after 4 years of execution) was a landmark implementation both for SCB and its partners. The implementation moved SCB forward from the 1980s legacy mainframe technology and paper-based processes to a strategic architecture based on in-memory technology and excellent digital experience.

The following business process groups were in scope of the transformation: 1. Partners / Customers 2. Government Accounts 3. Cheque Payments & E-Payments 4. Letter of Credit 5. Currency Management (Cash & Coins) 6. Investments 7. Financial Accounting – General Ledger

To facilitate the data migration requirements of the project, a central SAP Landscape Transformation (SAP LT) system on HANA was created and maintained.

In addition to a standard ETL process, a 4th step was introduced between Extraction and Transformation to make the data available to HANA: (i) Extraction of data from the legacy environment, (ii) Transformation of extracted data per the target design using SAP Data Services (BODS), (iii) Upload/reference of extracted transformed and load ready data into SAP LT on HANA, (iv) Transformation of extracted data per the target design, (v) Loading of transformed data into the target environment.

After the ETL+ process, the results were reconciled against the source to ensure its completeness and accuracy.