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Case study: 365.bank – Evaluating the Future: A Comprehensive Review of Bank’s New Architecture

365.bank is poised to modernize its core IT systems, including core banking and omnichannel platform, for various business and technological reasons. They opted for modern, cloud-based solutions. The primary challenge was to confirm whether this new architecture was feasible and deliverable and could effectively address the initial reasons for initiating the program. The bank needed assurance that the transition would not only be technologically sound but also align with its business objectives and future growth plans.

Solution

Employing a structured methodology, Grow2FIT’s approach for each area included:

  • An initial workshop to review the proposed TO-BE architecture and identified issues.
  • This was followed by the preparation of a draft output for each domain.
  • Subsequent follow-up workshops allowed for collaborative refinement of these drafts.
  • The final stage involved the completion and finalization of the outputs.

The areas reviewed were:

  • Accounts & Cards
  • Payments
  • Consumer & Mortgage Loans
  • Corporate & Treasury
  • Data, Reporting, Compliance & CRM
  • Front-end, New Omnichannel platform integration

Result

After a strategic review, Grow2FIT has advised 365.bank to proceed with a phased approach to IT system enhancement, focusing on key areas such as payment gateway functionality and new customer channels. The recommendation includes the implementation of a new Cloud Data Warehouse solution, focusing initially just on incorporating new requirements into this platform.

We also recommend retaining core banking systems where beneficial. Further stages involve consideration of system evolution based on specific technological, financial, and market-driven factors. Details of the implementation are kept general to respect confidentiality agreements.

Contact Person

Martin Petrík, 365.bank Program Manager

About the client

365.bank is a Slovak bank that carries out its business activities mainly on the basis of the Commercial Code and the Banking Act. The bank offers its clients a wide range of banking and financial products and services. Its core activities include accepting deposits, providing loans, performing domestic and cross-border transfers of funds, providing investment services, performing investment activities and providing ancillary services under the Act on Securities.

Provided services

Key Technologies

  • Mambu
  • Backbase
  • AWS