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Download Free Templates PDFLet us discuss and observe what Business Analyst does if Business Analyst works in Banking domain. As we discussed earlier Business Analyst works in multiple domains, For Example: Banking, Insurance, Telecom, Real estate, Healthcare etc. A banking business analyst is a business analyst who works in the banking domain.
BusinessAnalyst in Banking domain also performs the standard business analyst tasks such as Requirements Gathering, Requirements Elicitation, Prepare Documentation, verification, validation and coordinate and support during the UAT in banking domain perspective.
BusinessAnalyst have knowledge on banking domain like, how banks works, what are the functionalities and what are the modules in Banking.
As Banking is a Big domain, here so many sub modules also there in Banking. Modules or banking specialization domains as below.
Retail Banking
- Customer On Boarding
- Account Opening
- AML and KYC
- Loans
- Treasury
Corporate Banking
- Customer On Boarding
- Account Opening
- AML and KYC
- Loans
Payments
- NEFT
- RTGS
- UPI Payments
- Swift
Digital Banking
Example:
- Online Account Opening
- BPM Solutions.
Investment Banking
- Core Banking , Banking applications
- Finacle
- T24
- Profile
So, BusinessAnalyst should have experience and knowledge on specialized modules, it helps them to understand the client requirements and provide suitable solutions or suggestions.
As they have good knowledge and experience in banking, will also work as a SME(Subject Matter Expert)in the business unit.
They also need to understand the business processes to identify the business need and provide suitable solutions which would fulfill those needs.
Some of the responsibilities of BusinessAnalyst in Banking Domain:
- Prepare Documentation. Ex: BRD, FSD,FRD
- Use Cases
- Post implementation system support
- Production support (Functional)
- Understand the existing system or current system functionalities.
- Provide recommendations or suitable solutions to improve the application functionality
- Support project management activities
- Coordination with stake holders
- Ensure implemented changes should not impact on existing application functionality.
- Discuss and coordinate with the end users to understand the application functionality.
Frequently Asked Questions (FAQ’s)
Answer: Banking domain knowledge enables Business Analysts to understand complex financial terminology, regulatory compliance rules (such as KYC/AML and Basel III), and core transaction workflows, allowing them to bridge business needs with technical delivery effectively.
Answer: Key modules include Retail Banking, Corporate Banking, Payment Gateways & Clearing Systems (ACH, SWIFT, UPI), Core Banking Systems (CBS), and Compliance & Risk Management frameworks.
Answer: Yes. BAs can transition into banking by mastering fundamental banking workflows, understanding standard financial product lifecycles, and applying core requirements engineering techniques to compliance and fintech scenarios.
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