PROJECT SUMMARY

Phase-Out Business Accounts

Belgian retail direct bank

Carefully manage the phase-out of the Business Accounts (SME Business), as part of a strategic alignment, based on the proposed scenario (1-year period to avoid loss of fidelity premium).

Challenge

“Noiseless” execution
Limit cases with bounced payments due to unavailable or invalid linked accounts
Limit impact on other customers and deposits

Approach

Definition and follow-up of detailed execution plan
Coordination of internal and external communication (e.g. presentation to Belgian authorities)
Facilitation of discussions related to special cases and follow-up for proper execution
Proposal and facilitation of discussion on how to cancel term deposits
Agreement with Central Treasury on internal arrangement to cancel term deposits
Coordination of actions to ensure presence and quality of linked accounts to transfer the final balance and definition of a procedure to treat bounced payments
Definition and coordination of changes to the core banking system/secure site
Preparation and coordination of the execution of badges at cancellation of term deposits, at account closure and at removal of access to accounts

Impact

Complete and timely execution according to plan
No significant impact on other customers and deposits
Limited number of bounced payments

Retail & Small Business Banking

Management Consulting, Project Management & Implementation, Strategy Consulting

Consultant, Project Manager

Bank Deposits, Banking Operations Life Cycle Management, Business Development, Critical Projects and Crisis Situations, Legal and Regulatory Compliance, Systems & Data