Our client is a leading bank in the UAE, operating 34 branches and over 200 ATMs with an asset size of around USD 10 Billion. Cedar has worked with the bank across various transformation and implementation initiatives encompassing collections diagnostics, digital transformation, and health checks for ongoing implementation projects. The client was looking a reviewing its current channels systems and developing a way forward for its digital channels.
In this program, Cedar was mandated to assist in the convergence of channels from multiple channels to an omnichannel to improve the overall experience of the customer.
- Conducted an enterprise architecture review across all systems impacted by the omnichannel transformation project based on the current state and the expected target architecture.
- Reviewed 500+ requirements based on industry best practices which were to be incorporated as part of the solution.
- Developed an approach strategy covering a single app v/s a multi-app approach based on the pros and cons available for both.
- Managed the implementation of the project from the planning stage to the final cutover and go live covering testing, data migration, simulations, status updates and steering committee updates (4 mock migrations, 5+ rounds of testing, 2 business simulations).
- Developed a complete communication plan for the cutover to inform the customer of the impact of the ongoing transformation.
The program resulted in a successful implementation of the new omnichannel system. The results included
- The customers were provided with a unique experience across mobile and internet banking.
- Enforced an effective change management process to ensure the changes requested are approved based on the criticality.
- Executed a multi-app strategy based on the capabilities, e.g. Mobile Banking, Rewards, etc.
- Ensured effective project management and governance to reduce the overall risks associated with the projected.
- Conducted a soft launch prior to the actual go live to the masses.
- Transformed to an omnichannel in 1.5 years.
- We made strategy and innovation work.