Let 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.

Banking Business Analyst

Banking Business Analyst 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.

Banking Business Analyst have knowledge on banking 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.

  1. Retail Banking

  • Customer On Boarding
  • Account Opening
  • AML and KYC
  • Loans
  • Treasury
  1. Corporate Banking

  • Customer On Boarding
  • Account Opening
  • AML and KYC
  • Loans
  1. Payments

  • NEFT
  • RTGS
  • UPI Payments
  • Swift
  1. Digital Banking

Example:

  • Online Account Opening
  • BPM Solutions.
  1. Investment Banking

  2. Core Banking , Banking applications
  • Finacle
  • T24
  • Profile

So, Banking Business Analyst 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 fulfil those needs.

Some of the responsibilities of Banking Business Analyst:

  1. Prepare Documentation. Ex: BRD, FSD,FRD
  2. Use Cases
  3. Post implementation system support
  4. Production support (Functional)
  5. Understand the existing system or current system functionalities.
  6. Provide recommendations or suitable solutions to improve the application functionality
  7. Support project management activities
  8. Coordination with stake holders
  9. Ensure implemented changes should not impact on existing application functionality.
  10. Discuss and coordinate with the end users to understand the application functionality.

To gain knowledge on Banking.