Zenith Bank, a leader in African financial services, recognized the need to optimize its cash-intensive operations. As part of the bank's commitment to leveraging technology for service enhancement, a Cash Management Application (CMA) was conceptualized to streamline cash flow and ensure liquidity across its vast network of branches.
The CMA was envisioned as a robust web-based platform with a sophisticated analytics engine. It was designed to grant direct visibility into cash positions, enable precise forecasting of cash receipts, and provide a comprehensive view of enterprise-wide cash requirements.
My approach as a Business Analyst began with an in-depth stakeholder analysis to understand the intricate cash management needs. I facilitated workshops and interviews to elicit requirements, followed by creating user stories that captured the essence of the desired functionalities. These user stories served as the blueprint for the development team and formed the basis of our iterative development approach.
I employed various business analysis tools and techniques, such as SWOT analysis for the market study and process modeling to map out the cash flow process. My strategy was to prioritize features that would deliver immediate value to the bank while laying a foundation for future scalability
Effective documentation was pivotal throughout the project lifecycle. I ensured that all findings, decisions, and design rationales were meticulously documented. This included managing a comprehensive requirements traceability matrix, which linked user stories to their corresponding test cases and eventual implementation in the product.
The documentation also facilitated communication between developers, testers, and the requesting business team. It served as a living document, continually updated to reflect new insights and changes from ongoing discussions and feedback loops.
The CMA featured:
A control tower providing 360-degree visibility into cash inventories.
Order and fulfillment modules to manage cash supply and delivery logistics.
Advanced forecasting and demand planning tools that leveraged historical data to predict cash needs accurately.
Reporting and analytics that offered real-time insights into cash positions, currency breakdowns, and predicted cash shortages.
Workflow approval mechanisms to streamline requests and evacuations of cash across branches.
The CMA project at Zenith Bank stands as a testament to the power of strategic business analysis in creating solutions that not only address immediate operational challenges but also empower decision-making and future-proof the business. Through diligent requirement gathering, thorough documentation, and a clear focus on delivering actionable insights, the project delivered a transformative tool that propelled Zenith Bank to new heights in cash management efficiency.