Business Analyst - Core Banking

The Business Analyst in Core Banking is responsible for analyzing and documenting complex business processes related to banking operations, translating them into technical requirements. This role involves collaborating with business users, developers, and testers to ensure all functionality aligns with technical guidelines, thereby improving the effectiveness of banking systems.

To qualify for the Business Analyst position in Core Banking, candidates should have a strong comprehension of banking systems, particularly in account opening, payment gateways, and remittance processes. Familiarity with messaging formats like SWIFT and ISO20022 is required, along with solid communication skills and experience in Agile environments.

Important skills for a Business Analyst in Core Banking include strong analytical skills for system analysis and data mapping, excellent communication and collaboration skills for stakeholder management, and a detailed understanding of core banking systems and processes. Familiarity with payment gateways and remittances is also beneficial.

A Business Analyst in Core Banking should ideally have experience with platforms such as T24, Finacle, and Flexcube, as these are commonly used in the industry. Familiarity with these systems helps in understanding the nuances of banking operations and effective system integration.

Agile experience benefits a Business Analyst in Core Banking by enabling them to work effectively in a flexible, iterative environment. This approach fosters collaboration, allows for quicker adjustments based on stakeholder feedback, and focuses on delivering value continuously throughout project phases.

When answering this question, highlight any hands-on experience with core banking platforms, detailing specific functions you've been involved in, such as account management or transaction processing. Mention any projects where you contributed to system improvements or user experience enhancements.

Describe your methodical approach to analysis, including how you gather requirements from stakeholders, document processes, and use tools to visualize and map the processes. Emphasize your ability to communicate these processes clearly to both technical and non-technical stakeholders.

Discuss the specific tools you're familiar with, such as UML diagrams, flowchart software, and data modeling tools. Explain how you utilize these tools to aid collaboration and ensure accuracy in data integration across systems.

Explain your strategies for regular communication, such as setting up frequent stakeholder meetings, delivering project updates, and soliciting feedback throughout the project lifecycle to ensure everyone is on the same page.

Share a specific example that showcases your problem-solving abilities. Detail the steps you took to identify the challenge, the analysis process, and the collaborative efforts you made to arrive at a solution that satisfied both technical and business needs.

Talk about your experience with change management processes in Agile settings, including how you prioritize new requirements while ensuring that the project maintains its goals and deadlines.

Discuss your experience with specific payment gateways like FAST or GIRO, detailing your understanding of how these systems integrate with overall banking services and any role you've played in implementing such solutions.

Explain your approach to verifying solutions after implementation, including techniques like user acceptance testing (UAT) and stakeholder feedback sessions to ensure the solution meets business objectives.

Mention the importance of clarity and detail in your technical documentation, ensuring that it accurately reflects the business needs and provides a comprehensive guide for developers and testers.

Illustrate your method for stakeholder interviews, including how you prepare questions tailored to their expertise, how you create a comfortable environment for discussion, and how you ensure you capture accurate requirements.