Private Banking Solution | Tech Mahindra

Private Banking Solution

Business Overview

A renowned global bank with over 150 years of history selected TechM as its implementation partner for a Private Banking Solution. With a strong presence in over 125 countries and a wide range of tailored products and services, the bank sought to revamp its US branch after acquiring another bank's operations.

Challenge

The focus of this project was to migrate from the bank’s current core banking solution to a new Core Banking solution that was operational in the acquired Bank with a major focus on the back office operations and consolidation of the accountings and reports for the overall entity.

Solution Highlights

Integrated Private Banking

The Private Banking Solution of the Bank’s branch in North America was on a different Banking Solution which was not synchronized with the other Private Banking solutions in the other branches, resulting in a synchronized accounting and reporting.

TechM Private Banking

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 consolidated reporting framework.

Bank Interface Re-Engineering

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 Benefits

Interface Re-engineering Benefits Bank

The Bank was benefitted with a reduced cost of implementation by re-engineering the interfaces on a common platform

Efficient Back Office

A perfectly aligned back office operational model

Unified Bank Analytics

The Bank had a consolidated reporting mechanism and single source of Private Banking Analytics