Tromp AG
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Payment system strategy development in the UAE
2018 October,  Tromp AG engaged with Boston Consulting Group, to assist BCG by providing expert central bank and payment system advisory services to both the Central Bank of the United Arab Emirates and the Boston Consulting Group.  The project is aimed at assisting the bank in develop a comprehensive longterm payment strategy.
Digital money discussion paper for central bank legal tender
2017 April.  Tromp AG engaged with Roland Berger GmbH, in developing a paper on digital money, focussing specifically on central bank utilisation for fiat money issuance purposes.  The article aims to clarify the technical jargon and attempts to separate potential solutions suitable to the central bank currency management role from the myriad technical solutions flooding the market.  The article is available from Roland Berger.
Financial services strategy development for a leading national Telco

In June 2015, Tromp AG was appointed by Telkom SA, the South African telecommunications giant, to support the company in the development of a financial services positioning strategy. The assignment was completed in October 2015.

As with Telco’s all over the world, Telkom wished to explore opportunities in the FinTech space, where technology-enabled convergence is clouding boundaries between industry domains and organisations. The objective was to develop a strategic fit for Telkom to capitalise on financial services opportunities in the South African and regional market.

As part of the strategy development process, global trends and the local financial services landscape, were assessed. Considering Telkom’s inspiring vision of “Seamlessly Connecting People to a Better Life”, and Telkom’s market position, capabilities and reach, a strategic fit was developed.

Dr Philip Tromp used his collaborative approach, working with Telkom’s executives and key internal role players, to evolve the strategy.

Cooperation agreement between Tromp AG and Monetas AG in the field of digital money
2016 March,  Monetas AG, a technology development company based in Zug, Switzerland, and Tromp AG, entered into a partnership in order to promote the Monetas notary-based digital currency system.  Tromp AG will focus specifically on the South African market as a potential launch pad for the offering.
IT Governance for Central Banks - 2013
Philip Tromp has again collaborated with Incisive Media to present this year’s closed central bank IT Governance course, scheduled for 10 to 13 September 2013.  The  topics to be discussed cover business and technical issues confronting Central Bank IT managers today.   The event is held in the very special Cambridge University setting and promises to be a thought-provoking experience for all participants.

South African payment interchange determination


Dr Philip Tromp has been appointed to act as lead facilitator in a project to review the use of interchange and to determine a model for the determination of payment interchange fees, in the South African banking system. As project champion and facilitator he played a leading role in the modernisation of the South African National Payment from 1994 to 1999, and has been active in the international payment system domain for the past 12 years. In this project experts in various aspects of the South African payment system landscape will provide assistance where and when required.

All payment streams officially recognised and registered within the South African National Payment System will be examined and addressed. Interchange, as applicable to payment systems, refers to the process whereby banks, through their devices, systems and procedures, facilitate the acceptance, collection, exchange, clearance and settlement of payment instruments, utilised by their customers, within a National Payment System.

Interchange fees will be reviewed in terms of whether they are feasible and/or justifiable in each payment stream and whether they are set at realistic and appropriate levels based on acceptable parameters. The project aims to establish a sustainable process whereby interchange rates can be reviewed from time to time as required by changing market conditions and requirements.

Payment instruments covered include credit cards, debit cards, credit transfers, direct debits, petrol / fleet cards, ATM and POS cash withdrawals as well as cheques. In addition, South African payment instruments developed specifically for the microfinance industry, referred to as authenticated and non-authenticated early debit orders (AEDO and NAEDO) will also be scrutinised.

The initial phase of the project comprises a study of the issues, stakeholder views and the body of knowledge available on the subject.

IT Governance for Central Banks - 2011

Philip Tromp will once again lead this closed central banking training program, hosted by Central Bank Publications. The program will be held at Christ's College, Cambridge, United Kingdom, from the 20th to 23rd of September 2011. This will be Dr Tromp’s third appearance at this event. He will also present a paper entitled “Serving the goals of a central bank: the role of IT”, based on his own experience as IT and National Payment Systems Director of the South African Reserve Bank in the nineties.

Core banking and ERP systems implementation

Tromp AG has been appointed to support the Reserve Bank of Malawi (RBM) in the implementation of a new core banking system and related ERP applications.

Towards the end of 2010 the RBM embarked on a project to replace its core banking system that has been in operation for many years. The system selected to replace the current system will comprise the Oracle Flexcube Universal Banking System, the General Ledger of the Oracle eBusiness Suite and a number of ERP modules to automate selected financial processes.

Tromp AG will provide project oversight, project management and change management support services to the management and internal project team of the RBM, encompassing the following:

Project oversight

Tromp AG will assist the executives of the Bank on an ongoing basis by regularly:

  • reviewing the project status and deliverables;
  • highlighting any gaps that could have a negative impact on the successful introduction and timeous completion of the new business solutions; and
  • assessing user perceptions.

Project management support

Tromp AG will assist the Bank in carrying out its responsibilities in the implementation project by supporting the bank’s internal project team with, inter alia, the following:

  • ensuring that project issues are resolved professionally and promptly;
  • playing a leading role in the planning of the project together with the vendor’s Project Manager and the Bank’s Project Coordinator;
  • understanding and identifying RBM project staff needs and goals and offer guidance to steer towards an appropriate solution; and
  • advising on project complexities and escalating project issues to the Bank’s project steering committee and project sponsor.

Change management support

Tromp AG will advise the Bank’s project sponsor, steering committee and internal project team on effective change management in order to facilitate:

  • obtaining and retaining the commitment for the implementation project from the various user departments;
  • identifying and utilising internal business experts for the duration of the implementation project;
  • obtaining the co-operation of the user departments and staff to adopt the reengineered business processes within the user departments and across departments;
  • ensuring that training and user acceptance testing is effective and that the necessary re-skilling is done where necessary; and
obtaining the support of the executive and user department managers to ensure that customisation of, and alterations to, the standard system is restricted to the absolute minimum.

SADC central bank IT conference
Tromp AG participated in the IT Forum's annual conference, held in the Seychelles from 21 to 25 February 2011.  The conference was attended by the IT directors of central banks in member states.
Philip Tromp presented a paper on the complexities of managing change in a regional scenario.  He also highlighted some of the challenges and opportunities presented by initiatives to integrate financial infrastructures across countries.  The paper is available on request through the email facility provided under Contact Us.
IT governance for Central Banks
Philip Tromp led this central banking training program, hosted by Central Bank Publications, held at the Clair College, Cambridge, United Kingdom from the 7th to 10th of September 2010. This was his second appearance at this closed, central bankers only, event. Tromp also presented a paper entitled “Serving the goals of a central bank: the role of IT”.
SWIFT African regional conference 2010
The 2010 SWIFT regional conference for African customers was held in Johannesburg, from the 4th to 6th of May.  Philip Tromp facilitated a workshop involving delegates from South African Development Community Countries (SADC) to exchange ideas on an integrated financial infrastructure for SADC countries.  In addition, Tromp also participated in a plenary session discussing the way forward in payment in the African context.
SWIFT Middle East regional conference 2010
The 2010 SWIFT conference for customers from countries in the Middle East was held in Dubai, from the 1st to 3rd of March.  Philip Tromp participated in a panel discussion on the question ‘what’s next in the Middle East? regarding the field of payment infrastructure
Philip Tromp launches Tromp AG
On the 1st of March 2010 Philip Tromp launched Tromp AG, an independent consultancy company specialising in the fields of central banking and financial infrastructure development
Philip Tromp steps down as CEO of Perago
After nearly 11 years at the helm of the Perago group of companies, Tromp stepped down as CEO of Perago AG and Chairman of the Board of Perago FSE in December 2009.
Perago celebrates 10th anniversary
On April 1 2009, Perago was in operation for 10 years. The occasion was celebrated with a Perago User Conference held in Cape Town
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