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

Do you want more information or do you have a similar challenge or issue?

Share

Share on linkedin
Share on facebook
Share on twitter
Share on whatsapp
Share on email

Related projects in terms of expertise

Belgian/German retail direct bank

Thank you!

Your application has been received successfully.

A confirmation has been sent to the provided email.

Please check your spam or junk folder,
in case you do not find a confirmation in your inbox.