Our Roots

Venzure is a consulting and technology services company specialized in delivering key-turn solutions for the financial industry. Our consultants and technology specialists are seasoned professionals in the banking domain with extensive international and project experience. Our company name highlights the difference in our work style.

Our Track Record

Over the past 8 years, Venzure has executed many projects for prestigious financials institutions such as ABN AMRO, Deutsche Bank and Commonwealth Bank of Australia.
A project fact list, references and testimonials will be furnished upon request.

Our Key Knowledge and Experience Areas are :

Accounting System and International Accounting Standards Implementations
Data Warehouse Design, Development and Implementation
Central Bank Reporting
Treasury System Implementation and Integration especially Murex, Wall Street Systems and Sungard Systems
Business Acquisition Integration and Migration

In addition we have been involved in feasibility studies, IT assessments and design and development of reporting, pricing and reconciliation tools.

Examples of projects in the key domain are :

Condensed CoA, Data Warehouse and LBU Reporting

Project 'GLORIA' stands for GL optimization and re-engineering of the reporting interface architecture. This project was run simultaneously with project "CLAIRE" which stands for Consolidated Ledger and Integrated Reporting Environment.

Venzure was engaged mid 2007 to execute a program with following objectives:

Assess whether the GL system was feasible for the next 5 years given the strategy of the bank
Reduce the number of GL accounts by half and eliminate the data warehouse concept (data attributes) from the GL given ineffectiveness and performance
Select a data warehouse solution that caters for the light CoA and supports financial control, management information and BI reporting.

The scope of the program was successfully delivered by November 2008:

Upgrade of the GL System to the latest Oracle version with new workflow modules for purchase requests and invoices and fixed assets.
A new light CoA reduced by 90%.
A custom built data warehouse including source system integrity checks and source systems to GL reconciliations, including resolution of legacy integrity and reconciliation issues.
Data marts for financial control, management information and regulatory reporting.
Fully automated central bank reporting

Taskforce BI Audit issues

The Central Bank disallowed the bank to open new branches due to a substantial number of critical audit findings that arose during its regular audit. Issues found related to inconsistencies in LBU reporting between reports and across months, the data warehouse not aligned with core systems, aging unreconciled items, incorrect-, incomplete and inconsistent customer master data, etc. etc.

Venzure was engaged by the bank in October 2009 to manage the program which was baptized 'SPOT' (Single Point of Truth'). A task force was set-up with 5 work streams and a total of 60 FTE with a budget of over USD 1M and a target completion date of February 2010. Venzure consultants were mixed with in-house and other external resources. The scope of the program was successfully delivered by February 2010. During execution, the Central Bank set forth additional requirements, which were addressed in phase 2. This phase had 2 work streams with a total of 20 FTE, a budget of USD 500,000 and a completion date of June 2010.

In phase 1 of the program the data warehouse was aligned with the source systems, all unreconciled and uncleared items were solved, new reconciliation mechanisms implemented, new SOPs defined and implemented, 80,000 master customer records cleansed with source data verification, over 1,500 Central Bank report defects solved, over 250 issues addressed and the equivalent of IAS 39 implemented. The Central Bank reporting over January 2010 and subsequent months were flawless with a 99.7% accuracy.

Venzure staff fulfilled the roles of program manager (directly reporting to the board and regional CEO), business- and technical analysts.

Bank Migration

Project 'AIM' stands for Bank 'A' Integration and Migration.

After having completed the due diligence assignment regarding technical architecture, Venzure was engaged as program manager for the integration and migration of the acquisition target. The integration preparation activities took place during most of 2007, while the preparation and execution of the migration took place from October 2007 until January 2008.

Integration activities focused amongst others on alignment of client/product categories, legal and compliance including Central Bank approval, IT architecture, accounting and Central Bank reporting. The migration activities were meticulously prepared and rehearsed, with each single step logged into a run book. The final migration was successfully completed over the New Year without downtime of client services.

During the integration and migration activities we gained intimate knowledge of core banking and retail systems. Venzure has been engaged in various due diligence processes in South East Asia.

Treasury

Venzure is frequently engaged as program manager and system integrator for treasury systems. The program management comprises activities such as feasibility studies, translating strategies into a target operating model, deriving requirements and driving the request for information and request for proposal processes. Venzure's consultants are experienced implementers of applications from vendors such as Murex, Wall Street Systems and Sungard, in addition of having a life time of experience in the treasury domain. The latest program Venzure has executed regards implementation and integration of Murex for an European bank.

Occasionally clients have engaged Venzure to build customized solutions for their treasury activities, amongst others an ALM Reporting Tool ('ART' - combining a myriad of source system transaction and data into a single repository including functions such as hedge accounting and output to financial and central bank reporting systems) and a trade reconciliation and p&l decomposition application ('TREX').

Our Proposition

With extensive experience and solid project procedures, product and IT knowledge we are able to translate strategic, tactical and operational issues into a practical implementation approach, ensuring that results are firmly embedded in your organization. In Europe, Venzure is a niche player in Treasury System programs, while in South-East Asia the project experience is based mainly in the retail banking domain.

We differentiate ourselves by:

Total client focus in an end-to-end, ‘from a to z’ approach.
Venzure consultants are ‘content tigers’, being subject mater experts with program and project management experience and certification, instead of project managers and project members without content knowledge.
Partners and senior consultants work hand in hand with client’s key staff, making sure the knowledge and expertise is embedded. Work streams are headed up by in-house staff where feasible, allowing for a maximum of knowledge transfer.
We do not engage junior staff and we do not train them at your costs.
Clearly defined project stages, allowing the client to monitor progress and assess continuation at end of each stage based on clearly defined business case.
Competitive rates and innovative performance commitments

For every new client, we prefer to start with a small project, building up reference and trust, in order to build up a long-term relationship. A start-up assignment usually takes 3 months with 3 consultants, typically with a business-, technical analysts and project manager.

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