Our IT integration expertise helped save this banking leader from major penalties. With nearly $90 billion in assets and thousands of retail locations, this client is one of the leading consumer and small business banks in the United States. Having recently completed the acquisition of another financial institution, our client was required to disconnect IT systems from the previous owner’s technical environment within a 12-month window. If the client missed that deadline, it would incur a financial penalty of $1 million per day.
Five months into the project it became clear that they would not complete the project on time with the current plans and approaches. A number of issues caused further complication, including limited experience with the new technology, an 1100-mile separation and the fact that the client was actually three different chartered banks in one corporate entity, each with it’s own unique set of legal requirements and technical limitations. Our challenge was to resolve all these post-acquisition IT integration problems in time to avoid the costly penalties.
How We Solved It
A strategic approach to multi-company enabling with best practices for project governance and testing
- Saved the client millions of dollars per day by in potential penalties
- Achieved $4 million in integration value
- Reduced production defects by 30%