Merging the on-premises systems of two thrift banks with Temenos Cloud

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Merging the on-premises systems of two Filipino thrift banks with Temenos Cloud

the story

Our client, one of the largest independent thrift banks in the Philippines, partnered with us to help them during their merger with another Filipino thrift bank.

Technology integration is one of the most formidable challenges in a merger – working on the integration without disturbing the ongoing internal activities or compromising the security solutions is critical. Using our "Thinking Breakthroughs" framework, we decided to go beyond ticking off these infrastructure challenges and have created a future-proof ecosystem - to help the bank absorb innovations and changes as they come.

The outcome is that the merged bank entity has streamlined processes today and is agile for the future. They bring real-time, tailored financial services to the account holders - whether in the cities or the countryside, full-time employees, or small business owners and farmers.

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the challenge

The project's essential objective is to merge the on-premises system of one bank (R14 or Temenos release 14) with that of the other bank (R18 or Temenos release 18). The highlights are:

Merging R14 customers into R18 (adhering to local compliance requirements), merging products (AA accounts, lending, deposits) of the banks
Retrofitting R14 products and aligning them with R18, configuring new products and LOS in R18
Overcoming technical and Infrastructure challenges during SIT/UAT/DR/Live
Importing data to align with data warehousing capabilities (running already in R18)
Reducing COB time and identifying duplicate customers in user screens for operational accuracy.

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the solution

We worked in the waterfall delivery methodology and completed the project successfully in 8 months (including three months of post-live support). The highlights are:

Migrated existing R14 contracts while allowing collection and reporting activities to continue in R18
Introduced retail lending and related products (2/3-wheeler loans) in R18
Migrated setups (and other parameters) corresponding to collateral & limits for R14 customers to R18
Setup business configuration parameters for AA products in R18
Implemented local regulation-related changes in the product configuration.

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the outcome

Essentially, we filled the business gaps in the merger, improving CX (customer experience) for the clients and other stakeholders. The highlights are:

Both banks function as one entity now
Consolidated general ledger for Central Bank reporting
Added new products in R18.