CHALLENGE
A national bank, operating under seven distinct brands, faced the monumental challenge of modernizing its outdated systems. The bank sought a reliable partner with proven expertise to navigate its complex digital transformation journey. This included an ambitious three-year data warehouse project, transitioning from multiple deposit and lending core patch systems to a unified, real-time, on-demand system; migrating seven independent affiliates’ systems to a single platform; updating and consolidating products, fees, and thousands of interfaces; and rolling out new statements, notices, and complex operational reports.
SOLUTION
To address these challenges, a multi-faceted approach designed was implemented:
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- Facilitated the scaling of both consultants and full-time employees, contributing to a 25% growth in the digital transformation team.
- ConsultNet led a specialized team of ETL, BA, PM, and development experts to ensure a solid foundation for the digital transformation.
- To optimize efficiency, prescreening, onboarding, background checks, and thorough orientation were managed by ConsultNet, saving the bank hundreds of leadership hours. This allowed bank leaders to focus on strategic initiatives rather than administrative tasks.
- A dedicated QA team was established to maintain high standards of quality and consistency throughout the projects.
RESULTS AT A GLANCE
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- Completed the data warehouse project within three years and under budget, showcasing ConsultNet’s effective large-scale project management.
- Implemented the new system across all seven brands, ensuring consistency and boosting operational efficiency.
- Streamlined operations with a unified, real-time, on-demand system, improving data management and reducing redundancy.
- Maintained high standards with a long-term QA team, ensuring system integrity and reliability.
- Managed the hiring process end-to-end, saving leadership hundreds of hours to focus on strategic initiatives.
- Successfully completed the project, laying the foundation for future initiatives like the enterprise lending modernization project to enhance the bank’s digital capabilities.
