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Large Middle Eastern Bank
Retail Banking, Financial Services, Treasury Operations
Deputy General Manager
Systems design for retail banking and branch operations
One of the largest financial institutions in the Middle East was facing significant competitive pressure, deteriorating market share, changing regulatory requirements, inefficient processes and antiquated legacy systems. Theses issues were causing excessive technology and operational costs, resulting in reduced profits. LoBue was asked to assess productivity levels, service issues and systems capabilities across the retail, treasury operations and financial accounting divisions and to recommend a program to resolve these issues. As a direct result of this project, a new retail banking system was integrated for over 240 branches, treasury and its supporting operations and bank-wide financial reporting. This integration included broad-based upgrades to the systems speed and functionality as well as enhancements to the core general ledger and accounting applications.
The project required the direct management and oversight of dozens of software, hardware and telecommunications contractors and vendors, interaction with multiple users from various lines of business, the control and cost benefit analysis of key application customization, quality assurance design and execution, conversion and migration methodology, detailed benchmarking and integrated implementation management.
The successful implementation of this system positioned the bank to realize an annual reoccurring savings of $7,500,000.
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