Unprecedented transformation delivers agile new banking platform for the future

Our client, a leading bank, needed to develop a strategy to transform its operating model to address the needs of the customer. A dedicated team, working long, hard hours, helped create a new, open banking system that will deliver the future needs of the organisation and its customers.

The Situation

We were tasked with creating the new core banking platform for the oldest banking institution in Ireland. This required the management of multiple partners to simplify a system of 1,000 independent components in a transformation that was unprecedented in the bank’s history.

A major part of the challenge was to first gain an understanding of the needs of the customer, using that insight to redefine the key processes and propositions that would shape the design of the new platform.

The Solution

Starting in 2015, we deployed a team to create a set of journeys that would match the customers’ needs and design propositions to suit their expectations. This helped us to determine the operating model and technologies that would be needed, reducing the previously complex system to a single core with 18 partners.

Implementing change on this scale — something that had never been done before — required a great deal of trust and collaboration, as well as the openness and honesty to address the inevitable challenges that such a vast project will involve.

The Result

The bank’s legacy systems have been fundamentally transformed to a modern, open banking platform. It has also addressed issues in the old system that were identified as unfit for purpose, giving them a cost-effective, efficient and flexible environment that can readily adapt to change. The first release has gone live delivering a single view of the customer for the first time and further releases will be issued frequently under our agile delivery programme.

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