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This client is one of the largest banking groups in Europe. As part of a broader global expansion, the banking group made a bold move to position for rapid and significant growth in the Chinese market, with plans to consolidate existing operations, achieve local incorporation and engage in alternate business models.
In order to expand its presence and achieve significant business growth, the bank would need to:
Consolidate its fragmented Chinese operations (where it operated under different names due to previous acquisitions) and position itself for local incorporation.
Establish a new data center, IT infrastructure and application services for the core banking system—all ready to support rapid growth.
To achieve these goals, the group would require significant external support to understand Chinese business and regulatory requirements, including internal control, business processes, accounting and reporting.
It would also require a full range of IT and outsourcing services in order to execute its plans quickly.
The bank called on Accenture, whose resources in Europe and China brought strong program management skills and knowledge of core banking implementation. Accenture helped the bank define an aggressive and pragmatic master plan for local incorporation, accounting and regulatory compliance.
Accenture also helped the bank establish locally-specific requirements for IT, selecting the target solutions and defining the potential infrastructure and application outsourcing options to support its operations.
Accenture helped the bank:
Define the IT master plan covering solution selection, design and build, and outsourcing options.
Define a single IT system landscape to support the operations in three cities across all business areas, for day-one and beyond.
Select target application solutions, Oracle FLEXCUBE core banking system and other hardware/software partners
Implement the FLEXCUBE core banking system.
Provide on-going application and infrastructure outsourcing services.
Continuously support the bank launching new business initiatives.
Accenture also advised the bank on strategies for organic growth and alternate business models.
With the core banking solution in place and continuous support from Accenture, the client is currently on track to achieve its business growth objectives in China. The new core banking solution has enabled rapid business growth by:
With Accenture serving as a single point of contact for application and infrastructure outsourcing services, the bank’s management effort and IT spend can be refocused on their core business. All of this has resulted in a reduced total cost of ownership, helping move the bank’s Chinese operations toward high performance.
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