Background
Our tier 1 bank client undertook a core platform and general ledger replacement programme covering retail, corporate and investment banking product offerings. This programme was a planned seven-year schedule of activity eventually costing $400m to implement. The objective was to radically reduce maintenance and hardware expenses and to create systems that afford much greater flexibility. Our brief was to advise on, develop and execute an effective implementation plan across 52 countries.
Approach
The approach taken was to review the impacted countries and carry out an assessment where the logical grouping of the delivery could be clustered by operational change window and country level regulatory constraints.
Deliverables
A key element of this was a plan to manage the highly complex regulatory relationships
Co-ordination of release and change managements across all product groups, technology, operations, finance, audit and risk
Impact
Successful delivery of a new core banking platform that enabled both customer and operation enhancements across 52 countries which included:
Straight through processing
Increased accuracy on reporting
Reduced operational and hardware expense annual running costs
Increased flexibility and scalability on both processes and hardware