About the Client:
365 bank is a former digital-only Slovak bank in the Postova Banka group, providing banking and insurance services to customers in Slovakia.. Throughout the group’s transformation both banks (365.bank and Postova Banka) have merged into single bank house, keeping the name 365.bank
Headquartered in Bratislava, the 365 bank is currently one of the TOP 5 largest banks in Slovakia, operating through digital channels and physical branches all over the country. Initially focused on physical channel and cooperation with postal service (former Postova Banka), the new bank has moved towards more digital and full fledge banking house.
Context of the project:
The client is in preparation of deployment of new cloud-based banking core systems which would reflect its evolving business and IT needs as well as its transformation towards more digitally oriented bank.
Amid the launch of programme to prepare for new core systems implementation, Aspiro was asked to prepare product / client migration strategy. The strategy detailed transition and migration on product level, designed approach for client clusters migration, provided technical principles underlying the migration approach and identified key assumptions and risks associated.
As the bank was in midst of already one internal migration process of selected client base, strategy provided also recommendations to alter the ongoing activities in order to be aligned with the main migration strategy.
The project also quantified the income at risk / client churns as well as new income potential, stemming from an unique situation during the migration process itself.
Description of actual services provided by the staff within the assignment:
Aspiro provided the following services:
- Definition of migration approach based on technical roadmap and key business imperatives and objectives
- Validation of alternative migration approaches (phased approach vs. “big bang”)
- Legacy product mapping towards new core system and migration / termination approach
- Detailed migration analysis on product level determining the client interaction needed (business, technical, process and communication perspective)
- Preparation of product simplification strategy to mitigate the migration risks and simplify new core banking system set-up
- Sequencing of the client migration into proposed timeline with defined client interactions
- Validation with the new cloud solution architecture / deployment team on technical feasibility and preliminary deployment timeline
- Definition of migration KPIs
- Recommendations on changes towards ongoing internal client migration process
- Preparation of customer journeys at different points of the migration process
- Financial impact analysis with estimation of expected income at risk / client churns and identification of a new income potential
“Embracing the agile development environment, the team has worked within wider implementation program. They quickly identified potential migration approaches, detailed the preferred strategy into migration sequences and deployment timeline.
Migration strategy clearly showed us what the business-critical points are, what risks we do carry and steps that needs to be taken.
Overall, Aspiro delivered quality outcomes and provided added value also for the wider implementation team.”
Filip Lehocky, Head of Digital Business