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Driving transformation for a global retail bank

Challenge

A global retail bank was undergoing a multi-year banking transformation to accelerate the adoption of more digital products, adhere to increasing levels of regulation and to cut costs in an increasingly competitive market. Given the criticality and complexity of change required, Project One was engaged to drive activity over four areas.

Approach

An experienced team injected the capability required to work across all global IT areas to shape up and optimise the change portfolio. This optimisation created multi-million pounds of delivery savings and ensured that all dependencies were understood. Project One seeded in senior leaders to key roles, including an interim CIO for the UK retail bank and a Portfolio Leader for the sales and distribution area.

As per regulations, the UK retail bank needed to be ringfenced from the wider group. Project One provided deep financial service industry experience to drive the business change and the supporting digital change to shape the solution, provide the ongoing design authority leadership and ensure a quality and compliant solution. The team also brought expertise into IT release and implementation management and customer migration, resulting in the complex business change and migration being delivered to regulatory timescales.

Outcome

The global operations area of the bank had a programme to automate a significant amount of back-office processing. Project One provided the change leadership to assure and keep delivery on the rails and to provide programme management to the critical innovation delivery area. Project One also provided Change leadership to the operations data area, migrating to a new cloud-based solution and ensuring one version of the truth was driving decision making.

Our team also helped with programme recovery and re-planned the bank’s re-platforming programme for one of the European divisions, working with the new technology platform provider to ensure the right skills and capability were in place. This fed into the Bank’s Brexit readiness programme, which Project One also assisted by running a design authority workstream to ensure the IT platforms were able to support complex clients in a new European based hub.

“Thank you for the long hours and hard work which have contributed to a number of critical milestones being met in the last few months. The successful coordination, management and execution of the large number of activities going on across the project is only possible as a result of carefully orchestrated planning.”

Group CEO

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