A Major US Bank: Banking Merger and Integration

A Major US Bank:
Banking Merger
and Integration

Over the course of a decade, a major US bank
completed a series of complex acquisitions
—creating one of the broadest franchises in
the United States, and becoming a dominant
leader in all its key geographies.
However, the size, scope and geographic
complexity of the integration efforts created
major challenges:
• Thousands of branch banks and ATMs
needed to be converted
• Millions of customer accounts required
updating
• Staff in multiple locations had to be
retrained
• Large-scale rebranding efforts would need to
be initiated
Succeeding in its aggressive acquisition and
growth strategy required rethinking the bank’s
standard operating platform. The new, optimal
platform needed to better facilitate the
integration of acquisitions as well as to create
operational efficiencies and provide a common
customer experience.
Recognizing Accenture’s proven expertise in
global financial services merger integration
and banking operations, the bank selected
Accenture to help execute its ambition to
become a high-performance business.
How Accenture Helped
Accenture understood that speed was essential
for the bank to maximize cost reductions
and achieve business value throughout the
A target operating model is essential for direction and change
Current
Operating
Model
Target
Operating
Model
+ =
Acquired
Bank
Sets a Destination
Provides direction and
guides overall journey
Links acquisition
strategy with tangible
actions
Focuses on the bigger
picture around effective
integration
Helps management ask
the right questions and
make the right decisions
at the right time
integration process. Working with the bank’s
leadership, Accenture helped identify the
existing functional, operational, technological
and communication gaps among its
constituent entities. Then, in concert with the
bank’s senior management team, Accenture
formulated solutions to bridge the existing
systems with the proposed solutions and
assisted with integration support projects.
• Standard platform design and
implementation. Accenture provided deep
integration capabilities that shortened the
integration schedule and reduced operational
risks. After defining the target operating
model, Accenture helped the bank estimate
future business volumes and develop work
plans for tasks, timelines and human resource
requirements. Once implemented, the
operating model successfully consolidated
banking operations.
• Operations streamlining. Accenture’s ability
to move quickly contributed to the speed
of execution and helped create repeatable
processes. Conversion teams ensured
effectiveness of the integration through
comprehensive product and customer service
mapping. Skilled resources also assisted with
implementing the multiple, site-specific legal
requirements for each location involved. As
needed, new business practices and processes
were developed to increase customer service
and operational efficiencies.
Target
Operating
Model
Creates the Roadmap
Provides the business
case for the integration
initiatives
Presents clear direction
during project
implementation
Showcases critical issues
such as duplication or
inefficiency
Guides the Way
Supports Change
Management
Provides an effective
communication vehicle for
engaging stakeholders
Embeds a mindset and
culture to strive for high-
performance business
• Training and rebranding. The team
developed a comprehensive training program
to prepare the workforce for the new operating
environment. Nearly 50 hours of training were
delivered per staff member. Comprehensive
rebranding efforts were also executed over the
course of multiple acquisitions, resulting in one
of the largest rebranding operations in banking
history.
High Performance Delivered
Working together, Accenture and the
bank successfully completed a series of
large technology systems and customer
conversions—on time and on budget, a critical
component of delivering on shareholder and
market expectations for each merger.
Thousands of employees in hundreds of
locations received training on updated
processes and services, and many branch
locations reduced teller transaction times by
more than 50 percent. Millions of customers
were notified about the conversions and
millions of online banking customer accounts
were converted.
The new platform now serves millions of
customers across the United States through
banking centers, ATMs and across an awardwinning
online banking system.
Client Background
The major US bank is one of the world's
largest financial institutions and offers a full
range of financial services to individuals and
businesses. The bank provides services to
clients through thousands of retail locations in
nearly 200 countries and serves the majority of
corporations in the Global FORTUNE 500.
About Accenture
Accenture is a global management consulting,
technology services and outsourcing
company. Combining unparalleled experience,
comprehensive capabilities across all industries
and business functions, and extensive research
on the world’s most successful companies,
Accenture collaborates with clients to help
them become high-performance businesses
and governments. With more than 186,000
people serving clients in over 120 countries, the
company generated net revenues of US$23.39
billion for the fiscal year ended Aug. 31, 2008.
Its home page is www.accenture.com.
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