Nordea Bank Luxembourg successfully migrates to Temenos WealthSuite
10 March 2016
Deloitte Luxembourg has successfully completed a joint project with Nordea International Private Banking, migrating its core banking system and satellite platforms to Temenos WealthSuite, including Core Banking, Front Office, Channels, and Analytics, as well as a new reconciliation system and two new document management systems. This new IT landscape provides solid foundations for delivering the bank’s digital agenda and growth ambitions. Jean-Philippe Bailly, COO Nordea Bank S.A., said about the project: “More than a Core Banking System replacement, the project delivered a full renovation of the bank’s application and infrastructure landscape. It’s almost as if we started a new bank.”
Nordea, supported by Deloitte, is the first bank to integrate the entire Temenos WealthSuite which includes features that streamline its operating model and give customers complete access to their banking information and services. This project, which was one of the largest implementations of Temenos in Europe, was delivered in less than three years and completed in January of 2016. This success was due to careful consideration during the entire implementation process; early training was key to onboarding all business stakeholders and ensuring that the product was adopted and not adapted. Throughout the course of the project, top management support and a strong governance were essential to keep the scope in control, accelerate the resolution of issues, and anticipate risks.
Patrick Laurent, engagement Partner and Technology & Enterprise Application Leader at Deloitte Luxembourg explained: “The project organization and delivery approach was adapted to each phase of the project to ensure that the program delivery processes stayed as lean and agile as possible.”
During the testing phase, “power users” were involved early and continuously, and played an important role in supporting the business once the project was live. Basil Sommerfeld, Lead Client Service Partner at Deloitte Luxembourg commented: “A large banking platform renovation program is not just a technology change, but a fundamental change to the business and the culture. Change management was started early enough in the project to ensure onboarding of future users and anticipation of client impacts. The new banking platform is a competitive advantage to support future business growth.”
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About Deloitte in Luxembourg
In Luxembourg, Deloitte consists of 80 partners and over 1,800 employees and is amongst the leading professional service providers on the market. For over 60 years, Deloitte has delivered high added-value services to national and international clients. Our multidisciplinary teams consist of specialists from different sectors and guarantee harmonised quality services to our clients in their field. Deloitte General Services is a member of Deloitte Touche Tohmatsu Limited, one of the world’s leading professional services firms.