PROJECT SUMMARY

Potential Acquisition of a Belgian Savings Accounts Portfolio

Global banking group

Perform part of the due diligence on a Belgian Savings Accounts Portfolio offered on the market. Purpose was to assess the Operations and IT impact of a potential acquisition and to draft and negotiate an optimal operational transaction plan as part of the envisaged Asset Purchase Agreement (APA).

Challenge

Perform an in-depth due diligence on Operations and IT
Ensure all Operations and IT matters are known and clear upfront and included in the APA
Define a workable and attractive operational transaction plan

Approach

Analysis of portfolio data and other information provided via the data room
Additional questions to the target and follow-up of answers
Analysis of options with IT Delivery Manager, Core Banking System vendor, Security Officer, COO and Legal and Compliance Officers
Invention of a proposal for a speedy and smooth initial integration based on a restricted re-use of the authentication data and BIN migration, which also included the solution for a tax issue (accrued interest treatment)
Design of an operational transaction plan, gathering of internal validation and presentation to target
Assess initially proposed draft Asset Purchase Agreement
Liaise with other teams (e.g. tax, risk management, legal and compliance audit, treasury) and draft an overall business case/project plan and list of remarks to be included in the APA (risks, reps and warranties, penalties)

Impact

In-depth due diligence on Operations and IT
Input for APA ready in terms of Operations and IT
Contribution to the overall business case
Target was pleased with the proposed operational transaction plan, which made the deal more attractive for both sides

Retail & Small Business Banking

Management Consulting, Operational Transaction Services, Strategy Consulting

Consultant, Project Manager

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