A regional bank earns dividends from cloud strategy

 

100%

The bank eliminated 100% of its computer operation department’s work.

 

$16B

The project moved $16 billion in assets and account information to the cloud.

 

20%

The resulting solution requires 20% less time for each end-of-day job run.

 
 

At a glance

 

Client

Regional bank

 

Industry

Banking

 

Our role

Enable cloud migration strategy and delivery

 

Our solution

Define, roadmap and execute the migration

 
 
 

More capacity with a new cloud platform

 
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Scenario

A bank needed its core technology platform to support recent growth.

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Approach

Grant Thornton defined a future state that moved the core platform to managed cloud services.

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Result

The resulting solution moved information to the hosting provider and eliminated work for the computer operation department.

 
 

Scenario

 
 

Inefficient technology platform

 

A regional bank needed to improve its core technology platform’s capabilities, scalability and efficiency to accommodate tremendous recent growth.

 

The bank’s in-house system received annual updates, but its ancillary supporting applications were not updated as regularly. Also, its record purge and other cleanup activities were not conducted regularly.

 

The bank needed more consistent technology updates and maintenance, especially to help ensure better system resilience and uptime.

 
 
 

Approach

 
 

A future state plan with delivery

 

The Grant Thornton team listened to the bank’s unique needs and vision while assessing its cloud strategy, tailoring strategic components to fit. The team delivered a future state definition to move the core banking platform to managed services, rationalize custom applications and secure a vendor to rewrite code for cloud code compilers.

 

Then, the team produced a program roadmap that included a project plan, charter, infrastructure assessment, application inventory, transition plan, testing plan and migration playbook. For program execution, the team managed collection and refactoring of all of the third-party and custom applications integrated with the core banking platform, contracted vendor support before and after go-live, transitioned core applications to the hosted platform and conducted a lessons learned and sunset review.

 
 

How we can help you

 
 

INDUSTRY

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Result

 
 

A successful cloud strategy

 

The team’s future state definition transitioned computer operations and execution to the hosting provider, eliminating 100% of the work in the computer operation department. The program roadmap’s transition, testing and migration guidance facilitated the successful transition of $16B in assets and account information to the cloud hosting provider.

 

The program execution transitioned core applications to the hosted platform so that each end-of-day job run is now 20% faster than before.

 
 

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This Grant Thornton Advisors LLC content provides information and comments on current issues and developments. It is not a comprehensive analysis of the subject matter covered. It is not, and should not be construed as, accounting, legal, tax, or professional advice provided by Grant Thornton Advisors LLC. All relevant facts and circumstances, including the pertinent authoritative literature, need to be considered to arrive at conclusions that comply with matters addressed in this content.

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For additional information on topics covered in this content, contact a Grant Thornton Advisors LLC professional.

 

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