How Qurated helped deliver core banking implementation at a pan-European bank.
The London branch of a pan-European bank had delivered a core banking implementation as part of its strategy to transition from private banking into digitally enabled retail banking for its UK customers.
The bank engaged Qurated to optimise 6 critical banking processes following the implementation of new platforms. The project's success rested on four core objectives:
Focus on quick wins that reduce waste and tighten compliance. This includes streamlining redundant processes, improving internal checks, and embedding risk mitigation measures into day-to-day operations.
Create a scalable foundation for automation, system integration, and process redesign. This ensures that upcoming projects, such as digital workflows and advanced analytics, can be implemented smoothly and deliver long-term value.
Analyse system-based workflows for Payments Initiation to enable accurate cost-per-transaction insights. Long-term, this mapping will highlight inefficiencies and inform pricing, budgeting, and operational decisions.
Capture existing workflows in detail to identify bottlenecks and manual touchpoints. This documentation will serve as a baseline for automation opportunities and risk reduction.
Qurated enabled the bank to navigate the platform transformation through:
Qurated conducted collaborative sessions to map six key banking processes, uncovering pain points and identifying opportunities for efficiency and risk reduction.
Created a structured backlog addressing short-term operational efficiencies and enhanced risk controls, while capturing longer-term strategic requirements for future transformation projects.
Organised backlog items into categories (Immediate, Quick Win, Strategic, and Nice-to-Have) and applied a prioritisation framework based on Impact, Effort, and the business imperative: “Why do it?”
Proposed actionable solutions including digitisation, AI-driven enhancements, automation, system integration, and process redesigns to modernise operations and improve scalability.
Outlined adjustments to the operating model to support implementation of recommendations, ensuring alignment with governance, resource allocation, and delivery capability.
At the close of the project, Qurated left the bank with four deliverables to future-proof their core platform strategy.
Presented a comprehensive report outlining critical insights and actionable recommendations to guide operational and strategic improvements.
Conducted deep-dive analysis across banking processes, uncovering 73 distinct opportunities to enhance performance, reduce costs, and strengthen controls.
Created a structured backlog ranked by value and effort, enabling quick wins while laying the foundation for longer-term transformation projects.
Defined a benchmark for cost-to-serve, enabling the bank to evaluate reduction options and optimise pricing and operational efficiency.
