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This major US financial services firm provides banking, insurance, investments, mortgage and consumer and commercial services across North America and internationally.
When the bank merged with a large competitor, it needed to execute the integration effectively in order to minimize the potential drag on the profitability of its commercial mortgage servicing business.
A servicing platform integration program was launched with a vision for “one bank.” Its objective was to successfully combine the two commercial mortgage servicing businesses and capitalize quickly on the expected synergies. The integration was to be undertaken as seamlessly as possible, with minimal disruption to business operations.
The bank’s leadership was determined to maximize benefits by reducing process variance by approximately 45 percent and rationalizing its application portfolio. It wanted to complete the core integration activities within 14 months, but attempts to perform the work in-house were falling behind schedule.
With an accelerated pace and certainty of outcomes as top priorities, the provider selected Accenture to kick-start the program to merge processes, technology, operations and data. Accenture brought deep commercial mortgage servicing acumen and proven experience managing complex merger-related programs in other areas of the bank.
Accenture defined the future operating model and led integration planning, detailed analysis and change enablement efforts using tested methodology and reusable tools, including: Accenture Delivery Methods for Custom and Packaged Delivery, the Change Enablement Framework, Program Management and Governance Framework, and the Merger Integration Framework.
Working in the bank’s two primary locations, Accenture established and operated the program management office, provided project management support, designed the change enablement approach, and performed data mapping services through the integration design phase.
To ensure a smooth transfer of responsibilities to the bank’s team, Accenture worked side-by-side with bank personnel, instructing them in the deliverables’ design and preparing them for next steps through training and detailed transition plans.
Accenture’s proprietary integration planning methodology, tailored to the client, developed the bank’s own resources so they could continue or replicate the work in the future. Before Accenture began its work, the bank did not have a rationalized inventory of its dozens of applications and end-user computing tools, or a means of handling requested changes and reflecting them in the system topology. Accenture documented the entire system landscape and provided a structure for processing change requests and documenting the results. The bank had also not considered how to communicate changes to the employees and external partners and customers, how to assess its operational readiness to handle these changes, and how to design a plan to fill the gaps in the organization and its skill sets created by the new operational and IT environment. Accenture evaluated the bank’s organizational readiness, designed the change enablement plan, and trained designated personnel on the approach, techniques, and how to execute the plan.
With Accenture’s help, the bank was able to get its integration program back on schedule. The bank now has a unified target operating model, the design phase is complete and the bank is on-track to integrate three servicing platforms into one.
Accenture helped the bank not only structure and map complex processes, but also reduce process variance and redundancy by more than 45 percent, meeting one of its key objectives. Additionally:
The new model will reduce the use of end-user computing tools by approximately 40 percent in Release One, and the roadmap provides for the elimination of almost 80 percent by Release Three.
At least 35 percent of the primary servicing system reports and queries will have been eliminated.
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