Multi-National Corporate Relationships retained
Online Banking set-ups complete and fully activated
SEPA Direct Channel set-ups complete
Accounts closed on the legacy platform and moved to the cloud
As part of a strategic business review, MHC’s Tier 1 Banking Client made the decision to sell several of its European businesses whilst retaining key Corporate clients. As a result of MHC’s continued delivery success within the Bank and coupled with strong stakeholder management, MHC were selected to provide a team of SME consultants to deliver the first phase of an 11-country wide Client Migration programme for the Corporate division.
The initial sale involved their Banking Division in Portugal. The Bank’s aim was to migrate their top tier Corporate Clients from their Portuguese in-country legacy Electronic Banking System to a new cloud-based platform, ensuring that all client product and service requirements were captured. Due to the terms of the sale of the business, the migration timescales were extremely tight without any scope for extension.
The team of highly experienced MHC Consultants were placed at the Tier 1 Bank’s premises for five months to act as the interface between the Corporates, the Bank’s UK stakeholders and the Bank’s Portuguese Relationship Directors and their support teams. The MHC team took ownership of managing the end-to-end process of the corporate client migration.
It was agreed with the Bank that the MHC team would be phased in over a period of 6 weeks.
Each team member was assigned a Relationship Director and a portfolio of corporate Clients and tasked to act as the interface between the corporate Client and the Bank. Additionally, each consultant acted as a source of reference and guidance with respect to how the migration process would progress from initial Client engagement through to successful Client post-migration ensuring that all Client product and service requirements were fully matched at the end of the migration process.
The Consultants were individually responsible for the end-to-end migration of their respective portfolio of Clients and handover to a Business-As-Usual situation. In addition, all consultants completed the project, fulfilling all internal audit requirements and also provided the template for future corporate migrations under the programme.
The programme was delivered within the project deadline and was a resounding success, with all top 20 revenue Client groups successfully migrated within the 88 groups migrated for the project as a whole.
The Client had expected significant customer loss, but were extremely pleased that account closures were considerably less than expected. This was credited to the hands-on approach of the MHC consultants and the close working relationship developed with the Bank’s corporate clients.
The migration of the Portugal corporate Clients acted as an initial test to verify that the migration process and procedures would work successfully and could then be up-scaled to migrate clients from larger European countries. MHC demonstrated that an experienced team of consultants could successfully deliver the desired Client outcome on time and within the agreed budget.
The MHC team completed a comprehensive Project Review document with lessons learned, which were then incorporated into the Bank’s subsequent country migrations. The Bank was pleased with the results of the pilot migration and decided to retain and grow the MHC team to manage the next phase of the project.