MONETA Money Bank: Taking the digital lead
MONETA Money Bank transitions to a new, secure cloud-based infrastructure, setting the stage for sustainable growth.
MONETA’s aging, on-premises infrastructure prevented it from introducing new products and services quickly.
Meanwhile, the costs of keeping its legacy IT up and running continued to rise, delaying the bank from reallocating investments on innovation in other areas. MONETA needed to rethink its IT infrastructure to set itself apart from competitors and provide clients with the modern digital services they desired.
The bank recognized the need for a new IT strategy to keep up with ever-evolving client needs. It sought to embrace 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 required a flexible, cost-effective cloud-based IT infrastructure that aligned with the bank’s strategic ambitions and laid the groundwork for continued growth.
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 partnered with Accenture to define a new, comprehensive IT strategy rooted in the belief that cloud computing could deliver the IT agility MONETA was in the market for. They chose AWS as the target cloud ecosystem that best suited the bank’s digital agenda.
We helped design and the deploy the AWS environment before guiding the migration of 200 of the bank’s applications. Our experience with large-scale migrations, cloud migration tools and capabilities, along with our long-standing partnership with AWS, provided MONETA with the desired 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 quick, seamless and efficient deployment. Regulatory risks were given special consideration, and all cloud-related regulations were followed.
In total, 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 first wave included 20 high-priority applications, such as one for getting cash to ATMS. The whole migration took less than five months, with no disruption to services. As we strategized with MONETA, we brought our deep IT skills, unrivalled industry experience and strong reputation for financial institution IT transformation to the table.
Thanks to its new flexible and secure cloud-based infrastructure, MONETA can now meet the changing needs of customers and evolving market conditions with ease.
MONETA’s new capabilities are accelerating and automating development processes and continually improving the customer experience.
The bank can now innovate quicker, with a flexible and secure infrastructure that supports the sustainable growth of its services. Its developers are more agile and can develop new products and services as needed.
Looking ahead, Accenture will 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.
The company 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.