Requirements checklist
What to ask for when choosing software for banks.
A checklist built from how banks work, to print or save as a PDF and bring to any supplier meeting.
What the software should cover
Tick each one that matters to your business.
- Customer records
- Applications and approvals
- Documents and identity checks
- Service requests and complaints
- Overdue accounts and follow-up
- Branch and management reports
- Roles and audit trail
Roles that need their own access
Who logs in, and what each person may see or change.
- For branch staff
- For credit officers
- For operations and customer service
- For compliance and audit
- For management
Reports to ask for
Ask to see each one with your own sample data.
- Applications by product, branch and stage
- Sanctions by level, approver and turnaround
- Complaints open, closed and past ombudsman date
- Collateral valuations due for renewal
- Accounts past due by age and officer
- Dormant accounts by branch
- Branch comparison for management
Systems it may need to connect to
Note which ones you already run.
- Core banking system
- SMS
- WhatsApp or other messaging
- Document and cheque scanners
- Identity verification services
- SWIFT remittance exports
Questions for any vendor
Put these to every supplier you are comparing.
- Does it replace our core banking system?
- Can approvals follow our own limits and levels?
- Can several branches share one system?
- How are identity documents handled?
- Can customers submit requests themselves?
- How are complaints tracked?
- Can existing customers and open cases be moved across?
- Does it meet our regulator’s requirements?
- Who owns the data?
- What does it cost?
Where the work usually breaks today
Circle the ones you recognise. They set the order of the project.
- Customer details sit in several tools
- Approvals leave a thin trail
- Identity documents are collected and then lost
- Complaints have no single list
- Overdue follow-up depends on memory
Prefer to talk it through? See the banks page.