Consolidation Of A Global Bank’s Core Banking Platform
Industry
Bank
Capability
N/A
The Challenge
A common obstacle which any global bank will face is that their core banking systems can become disparate and unaligned. This is due to growth through acquisitions and legacy systems.
The bank were facing several architectural challenges across the various core banking systems in terms of alignment, modernization and business sponsorship.
How Woodhurst Helped
As-Is Assessment and To-Be Definition: Engaged to run an As-Is assessment of the current core banking landscape and challenges. Ran a week of workshops with the core banking leadership team to acknowledge the critical challenges and agree the future state across the operating model. These were split amongst the operating model levers of People, Process and Technology.
Implementation Planning: Worked closely with the global core banking teams to define what was required to re-organize to the target state. Ran communication sessions with senior leadership across the bank (both line of business and regional leads) to gather buy in and agreement into the new approach.
Ongoing Support: Provided support through the journey to the target state and helped remediate key blockers. Ensured senior business sponsorship and attention for the core architectural issues.
The Outcome
The core banking team saw an uplift in efficiency and speed to market as a result of pivoting to the target state.
Multiple core modernization initiatives were kicked off as a result of the architectural assessment and the increase in business sponsorship.
