A primary International Private Bank, after the acquisition of a privately owned Swiss bank, decided for the full integration of the acquired legal entity into its Operating platform, in full BPO.
The goal was to migrate the acquired bank from its in-house applications, based on a licensed core banking system, to Avaloq Core and Front platforms.
The two entities, of similar size, were expected to be fully integrated in one legal entity, with IT applications, processes and outsourced services centered on the Avaloq Sourcing services.
Leveraging on the success achieved in our mandate for the implementation of the Avaloq platform, we have been engaged also in this project to support, in continuity with the previous mandate, the migration activities.
As in the previous project, our tasks and responsibilities were focused on very specific areas of competence, supporting the bank management and the PMO in the decision making process, attending the Steering committee, designing functional requirements for the management of new processes, specific to the bank to be integrated, defining use cases and performing test cases, training new users.
A specific effort has been devoted in the areas of Compliance, with the analysis of the requirements to cover the extended MIFID II functionalities required by Head office and to design the specifications for Market Abuse, and Portfolio Management, for the implementation of the rules required to manage the mutual investment fund owned by the Bank.
As well as in the previous project we have played key roles in the cut over simulation and cut over execution, coordinating the bank activities together with the PMO.
Also in this case the migration has been completed as per initial plans, without any relevant issue post-cut over.