The Arizona Department of Financial Institutions (AZDFI), formerly known as the Arizona State Banking Department, was originally codified in 1922 and enacted into law in 1973.
AZDFI is statutorily charged with the licensing, supervision and regulation of state-chartered financial institutions and enterprises ensuring the safety and soundness of the financial services industry in Arizona. The Department also investigates complaints that are filed by consumers against licensed entities and directs appropriate remedial action if the violations are substantiated.
The Arizona Department of Financial Institutions (AZDFI)
State Agency responsible for licensing, supervising and regulating state-chartered financial institutions and enterprises
The Department began the process of decommissioning their aging system into a faster, more efficient digital one. However, the project failed to gain traction after several implementation delays resulting in the vendor’s dismissal. To get the project back on track, AZDFI needed to quickly choose another implementation partner that could delivered on their requirements and help them reach their future state.
Having recently completed a high-level assessment of AZDFI’s current state, MSS Business Transformation Advisory (MSSBTA) launched a more detailed assessment of over 300 requirements to move them to their envisioned future state. Vendor exploration was at the top of the ledger.
With system requirements in hand, MSSBTA began vendor exploration activities with four prospective partners. In this process MSSBTA measured each vendor’s capabilities against the requirements to gauge how the vendor would move the client toward their stated goal. Each vendor was scored on their ability to decommission the legacy system, implement a modern system, and migrate legacy data to the new system.
MSSBTA consultants also analyzed the client’s infrastructure and suggested an architecture to support a solution that included a decommissioning strategy and a diagram of how their legacy system ‘talked’ with previous systems, and how the new system should.
Vendor Evaluation and Selection
Software Decommission Strategy
Leveraging efforts from the vendor exploration activities, AZDFI was able to select the preferred implementation partner and move forward with the retirement of their legacy system and implementation of a modern, paperless solution. With the right vendor in place and focused on their requirements, AZDFI was positioned to successfully achieve their digital transformation.
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