Case Study

Bank integration assistance

Following the acquisition of a leading private bank by another, Avantage Reply's services were requested. A consultant from Avantage Reply supported the Transformation team of one of the banks involved. The primary objective of the mission was to manage the merger project between the two entities and to enable the banks to smoothly perform the integration without the day-to-day activities being impacted. The consultant also contributed to other projects in order to support the team(s) with their BAU tasks, such as sending SFDR reports to clients and monitoring regulatory requirements related to the EMIR ReFit.

CUSTOMER GOALS

The bank aimed to achieve a successful migration by ensuring:

  1. A smooth migration where all data is transferred accurately and efficiently between systems.
  2. Daily bank operations remain unaffected during the migration process.

CHALLENGES

The primary challenge was in transferring banking data from the core banking system of the acquired bank to that of the acquiring bank in a given timeline.

To address this, several testing phases were conducted prior to the Go-Live of the migration. These tests involved:

  1. Simulating the migration by transferring data from one system to another.
  2. Verifying that the data has been accurately transferred and correctly mapped in the new system.

The key challenges observed:

  • The technical complexity of transferring data between two distinct systems.
  • Coordinating various departments to ensure smooth execution.
  • Organizing and closely monitoring testing phases to guarantee their effectiveness.
  • Mobilizing necessary resources while considering the day-to-day activities of the stakeholders.

SOLUTION

Avantage Reply’s consultant supported the project through the following actions:

  • Coordinating departments to align strategies and priorities.
  • Monitoring data sources to ensure completeness and compliance.
  • Participation in training testers on the new core banking system.
  • Planning and organizing the testing phases.
  • Tracking migration progress and providing regular status updates of the testing phases.
  • Supporting EMIR ReFit reporting, analyzing anomalies, and ensuring the completeness of ETD/OTC data.

CUSTOMER DESCRIPTION

A leading international private bank specializing in wealth management, asset management, and investment services.