Project to merge the largest banks in Central Asia
- Our client
- Strategic Bank of Kazakhstan
- Context
-
- Universal product line
- 5+ million customers
- Industry
- Finance
Tasks
Solution
Result
The backbone Bank in Kazakhstan (universal product line, 5+ million customers) decided to acquire a competitor
Bank focused on retail banking.
The competitor had advanced digital channels and was a leader in acquiring and digital experience for individual
customers. The merging Banks had different business and operating models and corporate cultures.
Tasks
Solution
Result
Participation in two phases of the project: strategy
development and post-merger integration. Roles -
Strategic Advisor and System Integrator
Key activities included:
- Working out the target IT architecture approach
- Calculation of the economic impact of the merger: IT systems, infrastructure, branch network, etc.
- GAP analysis (products, processes) and creation of a detailed set of activities for the merger (IT, business, organizational measures)
- Defining the migration strategy to the target IT landscape
- Coordination of the involvement of 1200+ employees (30+ departments) in the activities
- End-to-end planning and product migration support for all data to be migrated to the target IT landscape (customers, accounts, cards, etc.) – maintenance of an hourly cut-over plan
Tasks
Solution
Result
Working with Axellect, the Banks completed the technology merger within 7 months, providing seamless customer service in the newly built IT landscape
Size and performance of the merged Bank after completion of the M&A transaction:
Results
$13+ billion in assets
5+ million customers
8+ million accounts
10+ million card