BCG - The Boston Consulting Group

Situation

A leading bank launched a Core Banking System (CBS) modernization program as part of an ongoing bank-wide transformation. The program was expected to enable leading capabilities and to serve as the platform for accelerated business growth. However, the initial launch of the CBS program had faltered due to its complexity, the large number of parties involved, and the management team’s lack of experience. BCG was engaged to drive the re-launch of the program through a newly established executive level Program Management Office (PMO), as well as through key work streams to ensure that the client successfully met its “go-live” target.

Approach

BCG assumed the role of controller and advisor to the executive leadership team of the CBS program, guiding the program’s progress from initial re-launch through eventual implementation of a new IT platform. In this role, our team focused on a number of key areas: establishment of a new program governance structure, review and revamping of all major work streams, development of a new program master plan, and facilitating the “deep-dive” deliberations of a 100-plus person business team from all areas of the bank. This team’s charter was to articulate the target business requirements of the new system and to determine the major areas of business change that would complement it.

Impact and value created

We created an optimal governing structure and operating environment to enable a highly complex transformation program for our client. Our most significant achievement in this endeavor was coordinating multiple teams to become effective, disciplined, and interdependent in order to meet the aggressive implementation target of the new CBS platform.

• e-mail page
• print page