Engineered scale for a challenger bank, enablin lending to grow from £1.8bn to £4.0bn+, deposits to £4.5bn, and profits to more than double.
Context & Challenge
A leading Nordic bank faced a critical challenge following a European Central Bank audit: gaps in organisational transparency, IT operating model inefficiencies, and regulatory non-compliance. The bank needed to redesign its IT operating model to strengthen cost control, ensure regulatory alignment, and prepare for a core banking replacement—while preserving critical knowledge around legacy platforms.
Our Role & Approach
We designed a comprehensive sourcing strategy to support the new IT operating model, analysing 2,000+ IT users across 7 countries to identify optimisation opportunities. Our approach balanced regulatory requirements with cost efficiency, ultimately delivering a strategy worth over €78M in annual savings. We provided architectural designs for the new test environment management capability and supported broader adoption of the Scaled Agile Framework across distributed teams.
Key Outcomes Enabled
€78M annual savings: Sourcing strategy delivered over €78M in annual cost reductions while improving vendor governance
Regulatory compliance achieved: New IT operating model aligned to ECB requirements with improved organisational transparency across 7 countries
Agile transformation: Scaled Agile Framework adoption enhanced responsiveness and effectiveness across distributed teams
Core banking prepared: Resource model ensured cost-effective delivery of core banking replacement while preserving critical legacy knowledge
Test environment delivered: New test environment management capability with documented processes for consistent adoption
