Transforming Global Banking

R88's solution involved designing an enterprise architecture based on the business Target Operating Model

Background

A leading global financial services organization, along with its US-based banking subsidiary, faced significant challenges stemming from its rapid growth through mergers and acquisitions. The bank struggled with widely duplicated systems, fragmented data processes, and a lack of a unified client view, leading to operational inefficiencies and compliance issues.

Challenges

Tangled Legacy Systems

The bank was encumbered by numerous legacy systems that were tightly integrated, complicating the management of client information across platforms.

Fragmented Data Processes

The reference data processes had become complex and redundant, resulting in poor data quality, inefficient operations, and a fragmented client experience.

Operational Inefficiencies

Multiple data sources and a lack of standardized client data led to excessive errors, rework, and an inability to support enterprise-wide initiatives like sales redesign and business process transformations.

Solution by R88

When R88’s enterprise architecture solutions group was retained, their first step was a thorough analysis of the bank’s systems. With deep expertise in financial services software solutions, R88 developed a comprehensive transformation initiative to reshape the bank’s operations.

Key Initiatives

Unified System of Record: R88’s solution involved designing an enterprise architecture based on the business Target Operating Model. This model aligned different applications and maintained key client data in a unified system of record, centralizing data sources for greater reliability and maintainability.
Enhanced Client Data Management: A new front end for capturing client information was introduced, alongside data cleansing and validation processes, ensuring that legacy systems could run in parallel without impacting downstream applications.

Improved Data Distribution: The solution limited the distribution of data from multiple legacy systems to downstream applications, transitioning to new distribution platforms for better data quality and consistency.

Operational Efficiency: By eliminating manual processes and third-party systems, R88’s platform streamlined back-office operations, leading to significant productivity improvements.

Ongoing Support and Results

Vertical Consistency: R88 ensured that all ground-level implementations aligned with the operating model, optimizing the bank’s goals and robustness.

Strategic Decision-Making: The architecture design council facilitated informed decisions on investment and ROI, driving continuous improvement and alignment with the bank’s vision.
Scalability and Innovation: The transformation enabled the bank to better support enterprise-wide initiatives, enhance the client experience, and achieve sustainable growth.

Empowering Patient Care with Innovative Technology

R88’s enterprise architecture solutions successfully transformed the global banking organization’s operations. By consolidating data sources, improving client data management, and enhancing operational efficiency, R88 enabled the bank to navigate the complexities of growth and innovation in the financial services sector.

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Charlotte, NC 28270
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R88 has been on the cutting edge of technological innovation in fintech serving the banking and financial services industry, through all aspects of retail and commercial banking, including digital channel transformation, payments, core banking software and outsourcing, enterprise distributed software and beyond. Our experts help our clients navigate even the most challenging aspects of selecting and implementing new technology, saving them time, frustration, and financial resources.

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