European Private Bank – Core Banking Implementation

Implementation of new Avaloq platform with migration of services from legacy systems.

Case Study: European Private Bank – Core Banking Implementation

Context:

The core banking platform is the main system a bank uses to run everyday banking operations. In this instance, the legacy platform had proven too complex and costly to maintain. The client chose Avaloq as their target platform to improve its ability to scale, bring products to market and integrate with internal and external applications

Client Challenges:

Core banking migrations are typically hugely complex programmes. This migration was particularly challenging due to the amount of bespoke customisation which was present on the legacy platform and the complex nature of the product data.
Highly complex architecture, developed over a long period of time with no single source of reference documentation
Private Bank was heavily integrated into parent bank in technology terms, meaning a complex carve out would be required.

Solution:

Provision of a top-down business architecture view which allowed identification of key PB-specific functions which were stand-alone and those which would require decoupling from parent bank
Impact assessment on common functions to understand what could be integrated with Avaloq “as-is” and what would require a full migration.
Development of delivery plan in conjunction with multiple “Big Four” Consultancies and development support throughout programme

Outcomes:

Successful migration of PB business to Avaloq in phases, following period of parallel running with legacy platform to allow non-migrated products to be “managed off”.