The bank, a primary European group, was looking for identifying and implementing a private banking platform, with a hub in Switzerland, leveraging its presence with a very small private banking unit, in order to support its plans of expansion in the private banking industry.
The goal was to design and start implementing a target operating model from scratch, having in mind a business model still subject to changes during its definition in detail.
The goal was to design and start implementing a target operating model from scratch, having in mind a business model still subject to changes during its definition in detail. The ambition was to have the platform up and running in 5 months from the approval of the preferred solution, able to support immediately the existing client base and in the future an accelerated growth, to be performed through mergers and acquisitions and hiring of senior bankers.
At the beginning we helped the bank in identifying a short list of options, also considering a scenario of full outsourcing of the future bank IT & operations, defining the criteria to select the best possible option, conducting the bank responsible units until the final decision.
The bank’s intention was to leverage on our deep experience of the market, our network in the IT Swiss industry and our knowledge of the business and operating models of reference, to speed up their project.
We have helped the bank in quickly identifying the full BPO as the solution fitting all the requirements. Following such decision, we have contributed to the setup of the business case with Avaloq AG, establishing the relationship between the bank and the supplier, designing the context where the project was to be performed, onboarding the bank management on the initiative, coaching them on the peculiarities of this brand new operating platform.
We have actively participated to the whole project, not only with regard to the BPO platform setup, but also with recommendations and proposals on how to complement the Avaloq-centric architecture with satellite solutions for specific business needs, supporting the client in the offers negotiation with the suppliers and as decision makers, being members of the project Steering Committees.