TRANSFORMATION FROM A PRODUCT AND PAPER BASED TO A DIGITALIZED CUSTOMER CENTRIC BANK

Customer type: Dutch branch of a Belgium Tier 1 bank

Challenge: Digitalize the full bank as soon as possible

Approach:

• governance: project lead directly reports to CEO
• vision and strategy determined in 2 months
• vendor selection done in 2 months with a beauty contest
  
  • select software vendors that have already done this and that have successfully delivered joint projects before
• phased approached with Minimal Viable Product
• use standard software, customize as little as possible
• have a small experienced project team that spends 100% of their time on the project

Result:

• Phase 1 (savings bank) was launched 9 months after the vendors had been selected
• Phase 2 (mortgage bank) was launched 12 months after phase 1 and delivered 3 parts: sell mortgages via the bank’s own advisors, sell mortgages via independent advisors and sell mortgages execution only, so without an intermediary

The project delivered a fully operating stable, agile and digitalized savings and mortgages bank. (To realize this, about 90% of the bank’s application and infrastructure landscape had to be replaced and outsourced). Besides, a new way of working at the operations department, tooling for active marketing purposes and business intelligence were added. As part of the project.