A playbook for banks on managing M&A integration

Banking

A playbook for banks on M&A integration

Efficient management of the complexities of disparate systems and data after an acquisition saves time and money.

Client

Banks that have merged or acquired new businesses.

Goal

Manage migration and integration complexity post M&A.

Tools and technologies

The Iris business acquisition playbook for banks.

BUSINESS CHALLENGE

In a low-interest rate regime, achieving scale is the only way for banks to stay profitable. The top 25 banks are growing at a rate faster than rest of the pack. The search for profitability from scale is predicated upon their ability to ensure that operational costs do not grow linearly with business. A significant part of this growth will come inorganically. Apart from M&As, brownfield expansion comes with banks selling off their books of business for reasons ranging from realigned strategic priorities to the more mundane need of raising cash. Any IT costs in absorbing the new book of work will negate the advantages of size.

Solution

Iris has been working with banking clients to create a business acquisition playbook outlining steps to insource with a migration and integration strategy. We have enabled clients to deal with post-merger integrations and create a single source of truth for transactional data and positions. The Iris team delivered solutions specifically tailored for applications in the loan origination and servicing space. We have helped our banking clients:

Consolidate multiple acquisition playbooks to create a single standardized framework for their lending business
Define insourcing steps for business and technology teams and create a migration strategy with quantifiable recommendations and a reusable checklist for insourcing activities.
Assess capability and readiness and help them choose from insourcing options:
Achieve full migration of data and systems
Achieve partial migration of systems and data migration and integration
Manage data integration and connectivity for lending business.

Outcomes

We have helped clients achieve 50% savings in cycle time and cost for post-merger integration of business processes, application and data.

Contact

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Deliver personalization via report automation

Asset Management

Deliver personalization via report automation

A leading asset management firm personalized offerings by automating processes to glean customer insights.

Client

A leading asset management firm based in the U.S.

Goal

Help asset managers deliver personalized solutions to establish differentiation.

Tools and technologies

AquaData Studio, Java, Perl, Python, Spring, Hibernate, VRS, PostgreSQL, Composite and MS SQL.

BUSINESS CHALLENGE

Asset management firms face challenges such as a generational shift in the demographic and new patterns of investment behavior. They also face changing regulations, and aggregators with low-cost products who are thinning the pool of investible funds. Our client wanted to differentiate itself by offering customer-centric solutions that are flexible and adaptable. But its existing systems presented several challenges:

Its front, mid and back office functions needed a lot of manual effort
Business rules were inconsistent and data duplication was rampant
User experience on the platform needed significant improvement
Clients were unable to get a holistic view of their accounts
Data validation was consuming a lot of manhours

SOLUTION

We partnered with the asset manager to deliver better digital experiences to all its stakeholders. We created a robust data ecosystem and used advanced technologies such as artificial intelligence/machine learning or AI/ML, intelligent automation, cloud computing and test automation.

Our team streamlined and integrated the client’s front, middle and back office functions. We helped the client integrate their back-office solutions with their custodians, reducing complexity in information exchange, eliminating reconciliation and increasing operational efficiency by more than 75%.
We automated the creation of more than 7,000 reports.
Improved experience for retail and institutional clients by automating the generation of complex compliance and strategic reports.
Developed a strategic reporting module that gave customers a holistic view of their accounts and holdings.
Set up a business data validation team offshore.
Enabled self-service option for bespoke reports.

OUTCOMES

Our solution helped the client significantly improve front-end experience for customers; reduce manual effort and costs in the back office; and improve overall operations efficiency. Highlights of the outcomes:

Automated the exhibits process with 75% increase in throughput
Our report automation solution reduced manual effort by 70% and improved monthly artefact generation throughput by 40%
Reduced manual effort for customization in client profile management by 60%
Achieved $50,000 savings monthly in data validation for client profile management

Contact

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An API ecosystem expedites customer onboarding

Transportation & Logistics

How APIs help in rapid customer onboarding

A global leader in logistics created an API ecosystem that significantly transformed its customer experience.

Client

The client is a leading logistics and transportation services provider, ranked among the top 10 in the world.

Goal

Rapid onboarding of partners and customers; improve customer experience.

Tools and technologies

Azure, Dell Boomi APIM and oAuth 2.

BUSINESS CHALLENGE

The growing volume of business required the client to respond faster to market demands. On their current systems, it was a challenge for the support staff to onboard new clients and service their requests.

The client needed a solution that would help it respond quickly to diverse business needs, including:

Last mile shipment tracking and alerts across carrier networks
Quotes for multiple shipment options
Special fulfilment orders
Order personalization for seasonal surges

SOLUTION

We proposed and developed a comprehensive API layer that allowed customers and partners to access client systems using APIs.

Customers and partners could easily track shipments and get quotes on their own. This reduced the need for support personnel to service routine requests. The team configured these APIs on Boomi’s API Management to enable seamless real-time integration.

OUTCOMES

Improved onboarding speed: 20+ partners per month
Enabled client to handle large volumes of requests, with a service capacity of 35,000 API requests a day
Improved customer experience through real-time rates and quotes

Contact

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Banking

A playbook for banks on M&A integration

Client

Goal

Tools and technologies

BUSINESS CHALLENGE

Solution

Outcomes

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