- The Private Banking Solution of the Bank’s branch in North America was on a different Banking Solution which was not syncronized with the other Private Banking solutions in the other branches resulting in an asyncronized accounting and reporting.
- TechM played the role of the implementor of a Private Banking suite that would align the Back Office operations , regularize the local accounting regulations and provide a consolicated reporting framework.
- The project involved Re-Engineering the existing interfaces of the Bank with the new Private Banking Suite provided along with aligning the operational processes with their Global standards.
Business Overview
Being one of the Global leaders in the Banking sector with presence in over 125 countries and over 1000 branches worldwide, the Bank required their US branch to be revamped to the latest core banking solution after the acquisition of another Bank’s operations.
As a world-class financial services provider, the Bank offers clients a vast range of products and services that are both tailored to local needs and inspired by global innovation.
Challenge
The focus of this project was to migrate from Bank’s current core banking solution to a new Core Banking solution that was operational in the acquired Bank with major focus on the back office operations and consolidation of the accountings and reports fort the overall entity.
Solution Highlights
Business Benefits
- The Bank was benefitted with a reduced cost of implementation by re-engineering the interfaces on a common platform.
- A perfectly aligned back office operational model.
- The Bank had a consolidated reporting mechanism and single source of Private Banking Analytics.