Transforming IT for business innovation: A multi-year strategy for a European bank
Key highlights
Holistic IT
strategy
Modernized
IT estate
Strategic blueprint
for innovation
Streamlined
operating model
The need for IT-driven innovation
Challenges of a fragmented IT landscape
- Legacy systems and redundancy: The IT estate consisted of outdated and redundant application clusters and hardware, creating inefficiencies and hindering innovation.
- Lack of integration: Previous M&As did not fully integrate IT systems with business processes, leading to operational silos and misaligned priorities.
- Innovation gap: The existing infrastructure was unable to support the bank’s ambition to innovate its service offerings.
A comprehensive IT transformation strategy
To address these challenges, we developed a multi-year, holistic IT strategy tailored to the bank’s unique needs. The strategy encompassed:
1. Core banking system modernization
Outdated core banking systems were prioritized for transformation, enabling faster processing, enhanced customer experiences, and streamlined operations.
2. Cloud adoption and scalability
A roadmap for adopting cloud technologies was created to enhance scalability, reduce costs, and improve agility. This included a phased migration plan to minimize disruption.
3. Cybersecurity and resilience
Strengthening cybersecurity and ensuring system resilience were key focus areas, with measures designed to protect the bank’s assets and maintain regulatory compliance.
4. Optimizing the operating model
The software development operating model was reimagined to integrate DevOps principles, enhancing collaboration between development and operations teams for faster and more reliable product delivery.
5. Strategic blueprint for innovation
The strategy served as a foundation for aligning IT capabilities with business objectives, enabling IT to drive innovation and deliver tangible value to the organization.
Delivering sustainable results
The multi-year IT strategy delivered significant benefits, positioning the bank for long-term success:
- Enhanced operational efficiency: Modernized systems reduced redundancy and improved overall efficiency.
- Stronger competitive positioning: Innovations in the service catalogue helped the bank differentiate itself in a competitive market.
- Agility and scalability: The adoption of cloud technologies enabled the bank to respond more quickly to market demands.
- Future-proof IT estate: The strategy ensured the bank’s IT infrastructure could support evolving business goals and maintain resilience in a dynamic environment.