Core Banking Platform Transformation at a top North

Copyright BIAN 2021 | Banking Industry Architecture Network

Core Banking Platform Transformation at a top North American Bank

November 10th, 2021


A Warm Welcome to YOU –Dialing in From all around the globe!


On Todays Webinar

Niloy Sengupta

Director Consulting

Cognizant

Hans Tesselaar

BIAN Executive Director

Sanghosh Bhalla

Assistant Vice President

Cognizant

Neha

Manager Consulting

Cognizant

A team from Cognizant’s Banking and Financial Services Consulting practice led the Core Transformation strategy and design at a top 5 North American bank

Sanghosh Bhalla

Assistant Vice President

Has 21 years of global experience in the banking and financial services industry working for brands such as Deloitte,

Protiviti, Capgemini. He works at the intersection of business, operations, and technology helping retail and commercial

banking clients create sustainable value by developing and executing business agility and performance improvement

strategies with focus on products, platforms and services, and digital/core banking transformation

Niloy Sengupta

Director Consulting

Has 19 years of progressive experience in providing advisory services to the both top-tier and challenger banks. He

specializes in the intersection of banking & financial services, with a focus on digital banking, platform modernization,

business architecture. He is an expert on fintech platforms in the Retail and SMB Banking. Prior to Cognizant Consulting,

he has worked with firms such as Accenture, Capco, CSC (now DXC) and FIS.

Has more than 12 years of experience in leading technology and strategy projects for financial services clients. She has

worked on multiple digital transformation programs for top banks across North America, EMEA and Asia Pacific and has

significant expertise on Core Banking Modernization, Wholesale Lending Transformation. She is also a BIAN (Banking

Industry Architecture Network) certified consultantNeha

Manager Consulting


To provide the world with the best banking architecture. To be the

banking technology standard.

The Central objective is to support the banking business/clients with

high performance and security.

One of the key objectives for IT in the banking industry are to lower the

IT and operational costs of the bank and help banks mitigate the risks

associated with technology innovation.

To provide a trusted roadmap for constant innovation. We create best

practice architecture that the world’s banks can rely upon 100%. To

gather the best minds in banking architecture for the world to share in

an open way.

By collaborating and sharing in an open way, the best expertise across

our global ecosystem of leading banks, technology providers, FinTech

players, academics and consultants to define a revolutionary banking

technology framework that standardizes and simplifies the overall

banking architecture.

BIAN’s Mission


Introduction | BIAN & Financial Institutions


Introduction | BIAN & Partners


Introduction | BIAN & Academic, Standard Bodies and Training Partners

Case Study

© 2021 Cognizant

The bank’s legacy state is three decades old mainframe platform, heavily customized and causes business and operational risks

The Bank’s core banking platform is built on mainframe legacy system which was highly customized over the years, leading to increased

costs, complexity, and inflexibility, creating an urgency to modernize to achieve agility, differentiated capabilities , and technology parity.

Bank partnered with Cognizant Consulting for advisory support in helping formulate the overall path to modernization including the approach to

decompose current legacy application into cloud native architecture and plan to rewrite existing applications using modern technology stack

and infrastructure.

Key considerations for Core Modernization

Business Considerations Strategic Considerations

• What are the implications for current Products and Process Landscape in the

new core ecosystem?

• How will the new Core handle existing gaps in products and processes and

customizations?

• What applications/components should be harvested, build or bought during

modernization?

IT Considerations Financial Considerations

• How will the dependencies on other projects in the pipeline be handled?

• How to find the right Consulting and SI Partners who can deliver?

• What IT resources and capabilities would be needed to support Core

Modernization ?

• How to manage the high risk and complexity of Core Modernization?

• What Organizational Change Management would we need?

• What are the new risks that will be introduced by the Transformed Core and

how to manage that?

• What will the TCO and ROI of the modern Core?

• What will be the Engagement Cost of Core Banking Transformation?

• What would be the exit and opportunity costs ?

Customer, Deposits, Relationship Pricing and Billing are the three components, across multiple business lines, that the legacy platform supports

Customer Deposits Relationship

Pricing and

Billing

140M Party

Records

1.3M CD Accounts 200K

Commercial

Customers

650M Customer to

Account

Relationships

45M DDA Checking

accounts

630K accounts

analyzed

130M Phone

numbers

75M DDA Savings

accounts

220K accounts

invoiced monthly

75M Customer

Addresses

IRA :

-0.9M IRA Money

Market accounts

-2.0M IRA Savings

accounts

190K accounts

auto-debited

monthly

Deposit System

Supports the end-to-end product set-up, account opening , account servicing and reporting for Checking, Savings, CDs and IRAs

Customer Information System

Primary System of Record for Customer

profile. Contact, Address, Customer to

Account Information and Customer to

Customer relationships

Relationship Pricing

and Billing

System of Transaction and Record for

Relationship Pricing and Combined

Statements for Analyzed Checking accounts

for Commercial customers

Foundational

Legacy AppsFoundational app linking all other apps in

the ecosystem

Downstream AppsMinor apps in the Mainframe platform

complementing and supporting the major

apps.

Current State Core Banking Apps

Deposit System

Supports the end-to-end product set-up,

account opening , account servicing and

reporting for Checking, Savings, CDs and

IRAs

Customer

Information System

*Numbers are approximated

© 2020 Cognizant

There were several approaches to Core Banking ModernizationA bank’s current state, goals, and in-house capabilities determines which one of the below approaches to Core Modernization is fit for

purpose

COTS REPLACEMENT BUILD IN-HOUSEVERSION UPGRADE

Convert the current state platform to

another Commercial Off the Shelf

(COTS) application in its entirety. The

target state offers improvement in

business (say, additional features)

and technology capabilities (e.g, real

time processing over batch) and

would be a more modern tech stack

(e.g. Java or .NET over mainframe)

Upgrade the core platforms to their

latest versions offered by the product

vendors to maintain Cap Currency.

Some vendors offer accelerated

upgrade processes to support such

efforts

PROGRESSIVE TRANSFORMATION

Modernization is a journey that

includes a mix of both Build and Buy

approaches. The existing Core is

Componentized. New capabilities are

added incrementally, and existing

components are “hollowed out”

gradually from the core through use

of Cloud Native Microservices, API

first approach and use of shared

“utility apps”

Rewrite the current state into a

modern technology architecture

using languages such as Java / .NET

and RDBMS data stores over MF

data stores and introducing real time

processing over batch.

• COTS replacement allows the

bank to buy apps that may

potentially offer additional

capabilities over and above the

current state, allowing further app

portfolio rationalization

• Higher Change Management

Needs– Process Changes and

Training

• Vendor Lock-in related risks

• Externalize code to get to the

latest vanilla version and maintain

Cap Currency

• Retrofit the custom code back to

the higher base version to get a

custom upgrade

• May lose out on digital and cloud

advantages through such

upgrades

• Some End-of-Life apps may not

be upgradable

• Reduces Execution Risk and

allows flexibility over budget and

timelines, but value benefit

realization may take longer

• Reduces impact to Business

Operations, as change is slow

• Accommodates reinvented /

improved Customer Journeys and

User Experience.

• Suitable for banks with strong

engineering capabilities

• High execution risks

• Allows for significant flexibility but

misses vendor support for

upgrades

• Current Operational workflow can

be retained

• A like-for-like Rewrite approach

creates another monolith, losing

out on the advantages of

componentized Core alternatives

and Cloud Native architecture

Co

ns

ide

rati

on

s

Our strategy pivoted on unbundling the existing ecosystem to simplify the business capabilities, streamline operations and modernize the core

EXPERIENCE MGT

PRODUCT

INNOVATION

PAYMENTS

CORE SOLUTION

AS-IS STATE

CHANNELS

CORE BANKING PLATFORM

END CUSTOMERS

CHALLENGES

OMNI-CHANNELS

END CUSTOMERS

PRODUCT MGT

TO-BE STATE

CUSTOMER MGT

MONEY MOVEMENT

ACCT TRANSACTIONS

Sluggish growth in new revenue streams

Differentiated customer experience

Velocity-to-market

Innovation at scale

Changing regulatory landscape

High operational costs

Complex and inflexible legacy systems

STMT & REPORTING

GL PROCESSING

ANALYTICS

PRODUCT MGT

CUSTOMER MGT

MONEY MOVEMENT

ACCT TRANSACTIONS

STMT & REPORTING

GL PROCESSING

ANALYTICS

Monolithic core,

all components

are tightly

coupled in a

single app or a

single code-

base app

ecosystem

© 2020 Cognizant

Our approach to Core Banking vendor platform modernization was progressive, agile, accommodate all options and attempted to reduce engagement risks while managing costs

Target State

Banking

Environment

Discovery Value Stream

AnalysisFunctional De-

compositionCurrent State

Core Banking

Environment

Customer

Experience

Customer / User Future

Needs AssessmentCustomer / User Experience Design

(Business as Voice of Customer

Customer / User

Journey Mapping

Target State Customer /

User Experience Solution

Modernization

Disposition and

Options Analysis

Implementation

COTS Replacement

Assessment Framework

Design

Best-Fit COTS Product

Identification

Target State

Solution

Target State

Implementation

Plan and Roadmap

Full Rewrite

Solution

Partial Rewrite

Opportunity Assessment

We used DDD led Progressive Transformation approach, that included both Build and Buy strategies, was agile and focused on risk mitigation

Customer / User Experience1

Used Cognizant Proprietary CX/ UX template

Value Stream Analysis

BIAN helped narrow down the Business

Scenarios, Business capabilities and their

interactions

2 Platform Functional Decomposition3

Functional groups was framed to

align with the BIAN L3

Components (Service Domains)

Modernization Disposition Assessment4

BIAN offered Open APIs out of the

box, influencing Modernization

disposition assessment outcome

Bounded Context Framing5 Microservices Detailed Design

BIAN offered out of the box

schemas in XML / Swagger

format, accelerating low level

design

6Orchestration and Integration7

BIAN Offered a rich library of

Service Interaction diagrams for

Business Scenarios that should

accelerate Service Orchestration

and Integration Architecture

Aggregates, Entities, Value Objects,

Domain Events was derived easily

from BIAN Service Domain, Business

Scenarios the business object model

(BOM) and underlying ISO20022

data model

Our Functional Decomposition Process leverages Domain Driven Design principles and enables a target state blueprint

Buy Analysis8

Followed a comprehensive Due

Diligence approach to shortlist the top

COTS applications that can meet our

needs. Each of the product vendors had

offerings that mapped to our Value

chain and current apps

We developed omnichannel customer journeys and mapped underlying business capabilities

TDA Customer Journey Map – Opening an IRA Account

Motivation Navigate to the site Search products Evaluate Products Select Product Submit Application Make depositStages of Journey

Activities

Customer Expectations

Customer Experiences

Wants to save up for retirement and wants to select a product that will

enable her to make tax free

withdrawals post retirement

Navigates to Wells Fargo s Web Portal

For Roth IRA

Searches for available IRA CD

products

Compares various product options

Selects Roth IRA Product

Provides details including personal

information, beneficiary info,

additional beneficiary info,

funds account, and submits application

Receives notification that his

request is complete, a Roth

IRA Account is opened, and makes

deposit

Feelings

Happy

Neutral

Satisfied

Unhappy

• Happy to see many options

• Wants to evaluate the pros and cons of each option

• Confused about what to choose

• Feeling happy that she is making a decision towards securing her retirement

• Since she already has a relationship with the bank via her savings and checking account, she wants to look at Wells Fargo s products first

• She is a little overwhelmed with the number of available options and wants to tread cautiously

• Happy to see that his investment has grown

• Overwhelmed by the length of application

• Feels happy that she was able to finally submit the applications and that it was approved.

• Expects the bank to inform her about available product options in an easy to understand and transparent manner, she is wary of fineprint

• Expects fast navigation to the Wells Fargo site, easy to understand interface

• Expects products to be explained in an easy to understand language, hates jargons

• Wants to be able to clearly compare between various available product options such as different between Roth IRA and traditional IRA etc.

• Wants to be able to easily select the most suitable option

• Since she already has a relationship with the bank, she does not want to provide the information which bank already has

• Expects notification confirming her request and result

Campaign

Management

AdvertisingLead

Management

Prospect

Management

Offer

Management

Product Setup

and LaunchProduct

Pricing

Product

Bundling

Customer

Onboarding

Account

Funding

Relationship

Processing

Application

Intake and

Processing

Customer Due-

Diligence KYC Diligence

AML DiligenceNew Account Kit

(NAK)

Presentment

Disclosure

Presentment

Account

Opening

Price

Customization

Term

Customization

Product Setup

and Launch

Prospect

Management

Prospect

Management

Enabling Business Capabilities

Product

Matching

Leveraging an Industry Framework for Banking, we have identified business processes that correlates with the specific Functional Groups

5.1 Establish service delivery

governance and strategies

5.2. Manage service delivery

resources

5.3. Deliver banking services to

customers5.4. Deliver service to customer

5.3.1. Open Accounts

5.3.2. Analyze

customer

creditworthiness

5.3.3. Maintain

accounts

5.3.4. Service bank

customers

5.3.5. Manage

transfer

transactions

5.3.6. Close

Accounts

Level 2. Drill Down on [ 5.0.] Deliver Services

Level 3 : Drill Down on [ 5.3.] Deliver Banking Services to Customers

5.3.4.1. Provide

account/product

statements

5.3.4.2. Manage

repayments

5.3.4.3. Manage

negotiated

changes

5.4.3.4. Modify

customer

information

5.3.4.5. Review

and extend credit …….

Level 4 : Drill Down on [5.3.4.] Service Bank Customers

Choose [5.3.4.1] Provide

account/ product statements

2.0. Develop & 2.0

2.0 Manage Products

and Services3.0 Market & Sell

Products & Services

4.0 Deliver Physical

Products5.0 Deliver Services

6.0 Manage

Customer Services…

Example Business Scenario : Combined Account Statements for a Customer

1.0 Develop

Vision &

Strategy

We overlaid all the Legacy Data Groups to the BIAN Service Domains, creating the association

SERVICING ORDER CUSTOMER POSITIONCUSTOMER

PRODUCT/SERVICE

ELIGIBILITYCONTACT DIALOG

CORPORATE

CURRENT ACCOUNTCORRESPONDENCE

Activate: Provide

combined account

statement

Retrieve: Get All

Accounts for this

customer

All Accounts for this

customer

Execute : Have customer select the accounts to be included


Execute : Provide booked balances and transactions for the specified period


Record : Compile combined account

statement

Execute : Send statement to customer


Acknowledgement


PRODUCT/SERVICE


CORPORATE


Customer Record - Read,

Customer to Account Relationship –Read

Customer to Account Relationship – Read

Customer Contact Preferences (Phone,

Email)– Read

Customer to Account Balance

Relationship – Read

Customer to Account Balance Relationship –

Read

Miscellaneous Transactions on Account

Record - Read

Customer Contact Preferences (Phone, Email)– Read

Customer Address – Read

Customer Event

Linkage- Create,

Read, Update

Functional Groups Data Group

Customer Key/Base Data Group

Individual Customer Data group

Customer Bank Relationship Data Group

Customer Bank

Services Data

Group

Customer Reference Data Group

Customer to Address Relationship Data

Group

Customer Communication Data Group

Customer to Account Relationship Data

Group

Customer Balance Sheet

Data Group

Customer Balance Sheet

Data Group

We overlaid all the Legacy Batch Jobs to the BIAN Service Domains, creating the association


PRODUCT/SERVICE


CORPORATE

CURRENT ACCOUNTCORRESPONDENCESERVICING ORDER CUSTOMER POSITION

CUSTOMER

PRODUCT/SERVICE


CORPORATE


Activate: Provide

combined account

statement

Retrieve: Get All

Accounts for this

customer

All Accounts for this

customer





Record : Compile combined account

statement



Acknowledgement

Customer Record - Read,

Customer to Account Relationship –Read

Customer to Account Relationship – Read

Customer Contact Preferences (Phone,

Email etc)– Read

Customer to Account Balance

Relationship – Read

Customer to Account Balance Relationship –

Read

Miscellaneous Transactions on Account

Record - Read

Customer Contact Preferences (Phone, Email etc)– Read

Customer Address – Read

Customer Event

Linkage- Create,

Read, Update

Functional Groups Batch Jobs

Enterprise Sequential Driver

Bank’s CAP Customer and Account Processing

CIP - Patriots ACT Daily Extract & Report

Extract Flow

CIP Integrity - Weekly

Event Tracker Purge Daily Process

Event Tracker DB2 Image Copy &

Reorganize

Monitor CDB & Event Tracker MQ

Queues

Event Tracker Daily Load From

Message Archive

ACXIOM Batch CDI Apply

XCM Bounce Reason Update

Risk Updates

Ran and EM Master Files

Customer Accelerated Purge

Mingled Divested Customer To Acct

Relationship Report - XRA971

Voice Monthly Force Close

Court Blocked Accounts Reporting

PMA EOM Qualification Balance

Calculation

PMA

Using a combination of Top-Down and Bottoms-Up analysis, we identified business domains and capabilities that serves the Target State...

Summary Steps

Discovery and Functional Decomposition

Sessions with Business, Operations, and

Technology

Dimensions of Discovery for each

Domain Area

Domain Areas (Level 2) Business

Capabilities identified

Business Capabilities (Level 3)

identified

Dimensions of Top Down and Bottoms Up Analysis

Business Scenarios & Use

Cases

1Business Processes & Value

Stream

2

System Components

3

System Components -

Screens

4

System Components - PCDs

5System Components -

Transactions

6

Business Rules

7System Components -

Reports

8

User Pain Points

9

Snapshot of Business Capabilities

1

2

3

4

..and developed a comprehensive Business Capability framework collaborating with Product Management, Business Operations and Technology stakeholders

Custom value chain was inspired by

BIAN’s Business Capability Model

We used BIAN extensively to outline the target state blueprint by externalizing the Core

Externalize out of the legacy Core Resides in Core, on a modern platform

Data Ingestion (ETL) Data Lake (Raw Data) Operational Data Store

Operational Reports Regulatory Reports Data Marts Analytics and Insights AI/ML

Data Warehouse (Structured Data)

Data and Analytics

Enabling Capabilities Deposit Core Capabilities Dependent Capabilities

Customer/ Party Master

Product & Features Pricing & Rates

Regulatory Compliance

Notification and Alerts

Loyalty & Rewards

Checking Savings

Term Deposits IRAs

Transaction Reconciliation

GL Processing

Money MovementDebit Card

Management

Statements, Notices,

Documents

Bill Pay

Fraud / Risk/ AML

Treasury

Cash Mgmt. and Pooling

Reports and Extracts

Item Processing

Lockbox

API Management Layer

Service Manager & Developer Portal

API Registry Security Access ManagementService Orchestration and

Routing

BranchMobile Banking

Account Originations

ATMCX and

Distribution Online Banking Contact Center IVR Cards/ POS

Specialized Bankers

Account Servicing Contact Center Operations

Engagement

Enablement

Account Analysis

Tax Management

Business Rules Engine

Sales and CRM

Payroll Management

Manufacturing/

Core Processing

(Deposits)

Decisioning and

Insights

Wealth Management

Sweeps/ Overdrafts

Stops / Holds

We facilitated strong collaborations between multiple bank stakeholders’ groups and delivered value through the following outcomes

Executive

SponsorsBusiness Architecture Operations Technology

Product

Management

Functional Decomposition and DispositionBusiness Capability Framework Build Vs Buy Analysis

Target State Architecture Business Case Target State Roadmap and Plan

• Industry framework (BIAN) to identify and document relevant

Value Chain components and associated process flows

• Assess Functional Groups for Modernization choices – Retain,

Retire, Rewrite, Replace.

• Provided the list of New Functional Groups for Target State

Identified the COTS product for Buy option

Provided a comparative analysis of Build Vs Buy options for

modernization

• Architecture for target state Microservices including

application architecture, information architecture, data

architecture etc. and Product backlog for implementation

• Developed comprehensive ROI and 5 year TCO model

• Perceived solution benefits, costs, risk, dependencies and

constraints

• List of MVPs in the waves with detailed activities

• Roadmap and plan for the modernization of application with

MVPs defined in each of the waves

Stakeholders

Outcomes

We followed a comprehensive Due Diligence approach to shortlist the top COTS applications that can meet our needs

• Extensive secondary search was performed to identify the ISVs (Independent Software vendors) in the market

• Thorough analysis of their products/services portfolio to identify the best fit for Account Analysis Capabilities

Vendor

Identification

• Introductory conversation to understand vendor adequacy – Strategic fit, Roadmap Alignment and Capability match

• Brief Presentation by the vendors on their products, services, expertise

Initial

Screening

• Subject Matter Expert were consulted to define the functional and technical capabilities for evaluation

• RFI drafted with detailed assessment questionnaire to rate their capabilities, services, Functional & Technical expertise

First Level of

Vendor

Evaluation

• Functional and Technical deep dive demos from all the shortlisted vendors

• Preparation and Consolidation of the assessment scorecard for evaluating the vendors based on the demo and responses to the questionnaire

Vendors Demo

and Scoring

• Qualitative analysis of the functionality and technical aspects of all the vendors

• Present findings and summary of the analysis to the Executive leadership with top 2 recommendation

Final Scoring

and Top ‘2’

Shortlisting

7 vendors were shortlisted for initial screening

Top 5 vendors were shortlisted post initial screening

RFI issued to shortlisted vendors along with the assessment questionnaire

Bank stakeholders from Technology (both App Dev and Architecture) , Product Management and Operations assessed the vendors

Ranked the vendor based on the consolidated and weighted scores.

Activitie

sO

utc

om

e

The engagement provided significant business value and future direction to the Bank for platform modernization

Acts as the GPS for the Core

Transformation

implementation and similar

platform modernization

journeys

▪ A modernization playbook with proven accelerator and frameworks based on Domain Driven

Design principles and technique to collaborate between Business and tech to drive large

scale transformation

▪ Comprehensive understanding of the emerging digital banking and leading vendor platform

capabilities

Meets Strategic Business

Objectives for Consumer and

Commercial Banking

Bank is anticipating significant gain in below business objectives:

▪ ~25 - 30% in Time to Market for New Products and Features

▪ ~10 -15% in NPS by improving Digital Efficiency and CX

▪ ~15 - 20% in Customer Retention through Relationship based pricing

▪ New Customer target of ~15%

Supports significant Cost

Avoidance and Risk

Reduction

▪ ~$50M estimated annual cost avoidance through reducing Technology and Operating

Expenses and through Process Simplification

▪ Ability to exceed targets of Risk Reduction and meet MRA requirements

Stays Relevant in Terms of

Technology

▪ Ability to harness the value and benefits of Cloud Computing and Digital technologies using

modern technology stack

▪ Stay Competitive with Digitally Native Banks and Fintech Non-Bank disruptors

© 2020 Cognizant

Lessons Learnt – Best Practices for Banking Platform modernization involving design, build and delivery

Platform approach supporting international expansion

End to end integrity, and a replicable model for international expansion (geographies) and capabilities build-out (products and services)

.

Core platforms – best of breed approach, as compared to traditional legacy with entangled

capabilities

Complex integration but decoupled through API

Gateways and ESBs – can invoke both fine-grained

and coarse-grained microservices. Supports the

target state digitization providing high speed Straight-

Thru Processing

Lean implementation

Adopt to best market practices in the packaged software, as compared to extensive build / expensive and difficult to maintain customization

Product management mind-set

Drive platform build (integrations) and capability build by MVP construct – what can be taken to the market rapidly

Complete segregation of experience layer from the systems of records

Experience and process API’s on top of domain API’s (from the core) – and managing experience completelytop down, as compared to point-to-point that imposes legacy characteristics on the process andexperience

Agile and Devops from the onset

Drive MVP concept through automation of the development to deployment process, and incremental improvements. Minimizing overheads of heavy waterfall style release planning, integration, anddelivery

Data is the core

Analytical engines built on the data lakeaggregating data from all interactions, touch points across core / non-core and experience components

Workforce Transformation

Workforce transformation through training, upskilling, fostering a culture of innovation, instituting agile ways of working, strengthening the technology workforce, and modernizing workplace environment.

API first strategy

Develop the API’s in forward looking manner, to potentially monetize and help create API market place for expanding the eco system and third-party service-providers to be integrated

DESIGN CONSIDERATIONS BUILD CONSIDERATIONS DELIVERY CONSIDERATIONS

Progressive Modernization

Modernization is a journey that can include a mix of both Build and Buy approaches. Instead of a big-band replacement or re-write, use architectural patterns such as Strangler towards incremental evolution

Technology led transformation

Enable Technology to be at the front and center of core transformation initiative working cohesively with business and operations through MVP based approach

Simplify products and focus on driving customer engagement

Drive product simplification to reduce product clutter and aligned product capabilities with a set of product and services to engage particular target segments.

.

Hollow Out the Core

Separate legacy add-on products from core and simplified core to essentials before beginning to modernize

© 2020 Cognizant

Cognizant is one of the world's leading professional services companies, transforming clients' business, operating and technology models for the digital era.

37 countries

270+ offices and digital

hubs worldwide

~283,100 associates

across the firm

BFS: 44,800+ in our

practice

5000+ domain and

technology

consultants

BFS

CLIENTS

BFS: 340+ clients

17 out of top 20 North

American financial

institutions

10 out of top 10

European banks

Expertise include Market

Strategy, Open Banking,

Product Management and

Design, Platforms and

Fintechs, Core

Modernization across Retail,

Commercial, Wealth

Management and Payments

industry

BANKING

OFFERINGS

GLOBAL

DELIVERY

PASSIONATE

PROFESSION

ALS

Our Banking and Financial

Services Consulting Practice

caters to clients, provisioning

end to end transformation with

its unique blend of advisory and

implementation services driven

by technology.


Benefits: Premium versus Freemium

28


Fees (annual membership)

▪ Large Software / Tech vendors / Integrators

(250 employees or more)

EUR 30.000,-

▪ Banks / FI’s that are not vendors

EUR 20.000,-

▪ Mid-Size Software / Tech vendors / Integrators

(less than 250 employees)

EUR 10.000,-

▪ Federal Banks / Central Banks

EUR 10.000,-

▪ Small Software / Tech vendors / Integrators / FinTech's

(less than 50 employees)

EUR 5.000,-

▪ Academic Partners

EUR 0,-

Member driven organization


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