The challenge
Our client was divesting from another bank to set up as a bank in their own right. Their goal was to migrate all accounts and be up and running with their own systems and accounts within 18 months. The project was complex as they had a complicated multi-brand customer-centric approach, they wanted to limit the impact on BAU, and continue to run a like-for-like process from day one.
The solution
Over an 18-month period, 11 subject matter experts from Arum were deployed across various key stages of the project. Our team:
- Reviewed the current Debt Manager system set up and rebuilt it in the new environment, whilst remaining as close to original business processes as possible.
- Provided strategic consultancy and advisory to the Debt Manager System owner.
- Built a migration strategy using a bespoke programme to place accounts from the original bank to new bank, making it look like they had always been there.
- Provided state-to-state mapping for 60,000 accounts to be migrated over.
- Advised and worked on business design, build, test, implementation and post-support.
The results
- The full range of accounts (billing, ATM, etc) were cut over in a single weekend.
- No business process impact for customers in Debt Follow-Up.
- 99.8% placement accuracy of all 60,000 arrears accounts.
- The Client had no internal team with the capability to carry out the divestment project. Arum was able to provide an in-house resource from day one through to post extraction, delivering both best practice strategy/oversight and hands-on operational activity.
- Knowledge transfer from Arum staff to the client team.
- Major change project completed on time and on budget.
- Set up fit for purpose future proofed operation.
- Client now able to continuously adapt processes and systems to support business priorities and meet operational demands.