MONETA Money Bank: Taking the digital lead
MONETA Money Bank transforms to a new, secure cloud-based infrastructure setting the stage for continued growth.
MONETA’s aging, on-premises infrastructure prevented it from introducing new products and services quickly. At the same time, the costs of keeping its legacy IT up and running continued to rise, delaying the bank from refocusing investments on innovation in other areas. MONETA would have to rethink its IT infrastructure to set itself apart from competitors and provide clients with the modern, digital services they desired. To achieve this, MONETA partnered with Accenture to define a new, cloud-based IT strategy.
But the bank recognized the need for a new IT strategy to keep up with ever-evolving client needs. One that would infuse agility and responsiveness into its IT operations and position the bank as the digital leader in the Czech Republic banking sector.
MONETA needed a flexible, cost-effective cloud-based IT infrastructure that aligned with the bank’s strategic ambitions and set the stage for continued growth.
Together, we defined a new, comprehensive IT strategy grounded in the belief that cloud computing could deliver the IT agility MONETA required. MONETA chose AWS as the target cloud ecosystem that best suited the banks digital agenda.
Accenture helped design and the deploy the AWS environment before guiding the migration of 200 of the bank’s applications.
We had demonstrated our understanding of MONETA’s objectives, and our commitment to true collaboration. Our experience with large-scale migrations, cloud migration tools and capabilities and our long-standing partnership with AWS provided MONETA with the required experience and knowledge.
MONETA tapped Accenture cloud experts and resources from the Accenture AWS Business Group. A joint MONETA/Accenture team assessed the risks of migration to plan for a seamless, efficient and quick deployment. Regulatory risks were given special consideration, and all cloud-related regulations were followed.
Two hundred applications were reviewed and prioritized. We reviewed the servers they ran on, their architecture, the characteristics of related workloads, and the computing capacity each application consumed.
The actual migration was split into waves to make the process easier and quicker to complete. The first wave comprised of 20 applications. These included critical workloads such as those related to the distribution of cash to ATMS. The entire migration was completed in less than five months with no disruption the bank’s services.
Accenture didn’t just tell MONETA what technology it needed—we leveraged our experts, ways of working and collaborative mindset to help the bank succeed.
Accenture based the strategy around the belief that cloud computing could deliver the IT agility and competitive edge MONETA sought.
We worked closely with MONETA to develop the strategy that best suited the bank’s needs and goals. We brought our deep IT skills, unrivalled industry experience and strong reputation for financial institution IT transformation to the table. We leveraged our cloud experts plus resources from the Accenture AWS Business Group to help deploy the AWS solution.
Thanks to its flexible and secure cloud-based infrastructure, MONETA can now meet the changing needs of customers and evolving market conditions with ease.
New products and services are developed and launched faster, and the bank can better support growth. Most important, MONETA is now positioned to become the digital leader of the banking sector in both the Czech Republic and Europe.
Accenture will continue to support MONETA’s goal to reduce its data center footprint and run up to 50 percent of its applications in the cloud. This will free the bank to regularly refocus investment towards innovation and its digital services.
MONETA’s new capabilities help the bank to further accelerate and automate development processes and continually improve the customer experience.
MONETA has ensured it will be the no.1 provider of digital banking services in the Czech Republic, and has set a shining example for other banks in Europe to follow.
MONETA can now innovate quicker, with a flexible and secure infrastructure that supports the growth of its services. The bank’s developers are more agile and can develop new products and services as needed.