The Bank of England is the UK’s central bank and a key pillar of the nation’s financial system. It oversees financial stability, manages large-value transactions, and ensures the safe operation of the country’s monetary infrastructure.
At the time, T-Plan was recognised as the leading software quality management tool by industry analysts Ovum Ltd. Its proven approach to structured testing made it a natural fit for a project of this scale and regulatory importance.
Finance & Banking
Serious vulnerability in physical settlement processes
Bank launched the Central Money Markets Office (CMMO) project
In 1990, a City of London messenger carrying £291.9 million in certificates of deposit and treasury bills was robbed in transit. Although the documents were recovered, the incident highlighted a serious vulnerability in physical settlement processes.
In response, the Bank launched the Central Money Markets Office (CMMO) project. Its objective was to develop a secure, electronic platform capable of handling up to £80 billion in daily transactions. The project required stringent quality assurance to ensure accuracy, security and stability.
The Bank selected T-Plan to help implement a robust QA framework of testing and establish rigorous controls across the quality lifecycle.
Key challenges included:
T-Plan was used to define and manage every aspect of the Bank’s QA strategy, providing full traceability from requirements through to test execution. It allowed the QA team to:
The tool helped ensure the entire QA process remained accountable, efficient and fully auditable.
The Bank of England’s CMMO project was a pivotal step forward in modernising the UK’s financial settlement infrastructure. Despite significant pressures around time, budget and scope, the project was delivered successfully. A result made possible through structured planning, disciplined QA and the effective use of the T-Plan platform.
Case Study Financial QA in the ‘Square Mile’ The Bank of England is the UK’s central bank and a key pillar of the nation’s financial system. It oversees financial stability, manages large-value transactions, and ensures the safe operation of the country’s monetary infrastructure. At the time, T-Plan was recognised as the leading software quality management
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