Industry-Leading Payments Integration
As a result of one of the largest ever financial services IT integrations, Lloyds TSB needed to migrate approximately 30 million customer accounts without causing any disruption to their service and losing market confidence in the merger. We delivered on-time and on-budget and successfully managed to gain the essential stakeholder commitment to our refined approach and target models.
Faster Payments Delivered Right On Time
Adapting for Faster Payments involved massive changes to the front end systems, security systems, reconciliation and settlement models, interfaces to legacy accounting platforms and the business operating models. With our assistance, a large UK retail bank delivered the Faster Payments solution to the original projected budget and agreed timescales.
From Mission Critical To IT Best Practice
This project was conducted for the Global Transaction Banking (GTB) division of a global bank, who wanted better value for money from IT and a reduced risk of further expensive IT project failures. Icon Solutions was engaged to review their delivery of IT systems and help implement improvements without disruption.
Less Risk, More Speed In Global Payments
A large UK retail bank needed their Faster Payments solution enhanced to apply compliance checks, to ensure that Payments Originating from Overseas (POOs) were not originating from countries or individuals on industry sanctions lists. We were asked to manage this project because of our successful involvement in the delivery of a Faster Payments solution for another major UK high street bank.
SEPA Deadline Hit, Over £17 Million Saved
We worked with a large UK retail bank to interpret the regulatory rules of the SEPA Payment Services Directive (PSD) 2009, and translate these into work streams to deliver process and IT compliant changes in very tight timescales. Our involvement ensured not only that this timeline was met, but that £17 million was also saved.
From Paper Tax Filing To Automation
The Tax Operations department of a global investment bank had traditionally relied on a manual system of hard copy filing and spreadsheets to record and store data on its clients’ tax affairs and needed to be transformed into a more agile organisation. This was a true cradle to grave engagement where we worked closely to identify business needs and ultimately deliver the technology solution required.
Overcoming The Challenge Of CRS
A UK bank had committed to adhering to Common Reporting Standards (CRS) by 1st Jan 2016 and required a partner to help them set up and deliver this challenge. As a result of our efforts, the Bank is currently on track to meet the 2016 CRS deadline and is better placed to handle requirements such as Enhanced Due Diligence and to satisfy regional regulatory authorities.