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Nowadays, the financial institutions face many challenges raised by the fierce competition on the market, the negative impact of the financial crisis, the stringent need for cost-efficient internal operation and compliance with international regulations. AAM provides services to assist the financial institutions in the Central and South Eastern Europe region to address these challenges.

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The financial sector is undergoing considerable changes due to slowing economic growth in Hungary, increased competition between financial and credit institutions (increasing number of services and products) and as a result of the development of banking applications and technological improvements (updating core banking systems, dynamic development in the e-channels.

The sector is making huge efforts to improve the efficiency of in-house operations, to win over and retain customers. Over the past few years the client-oriented approach of financial institutions has been strengthened, as a result significant steps have been taken in the development of sales networks, in rethinking and improving banking processes (front end, back office, and support fields) and in simplifying the related regulatory structure. Financial institutions devote considerable resources to the transformation of information systems and their integration into the organization and operation , as well as the introduction of new, more efficient and flexible solutions (ERP, data warehouses, business intelligence, and electronic workflow).

The financial market and environment is characterized by constant change, stimulating the flexibility of organizations and their rapid adjustment to new developments. Typically, developments that require changes (organizational, process, product or IT systems) are carried out in projects. In order to be able to manage these changes it is absolutely essential to have a broad experience of the sector, a high degree of objectivity and project management skills, including outstanding change management capabilities.

The international credit crunch threatens the entire financial sector. Accordingly, the main duties of financial institutions these days include placing emphasis on rigorous risk monitoring, and the introduction of a series of risk reduction and risk management solutions.

Day after day our clients experience the severity of supervisory reporting obligations as well as the harmonization of the regulatory environment with EU and international directives (IFRS, Basel II, Solvency II, MiFID, SEPA). Frequently, compliance to regulations involves changes of the existing processes, company regulations and IT solutions, that support banking activities of financial institutions. Our consultants use their extensive specialized knowledge of the finance sector and the latest methodology to support our existing and future clients to carry out these changes.

Our professional competence and experience in the preparation and management of major projects, the implementation of information systems, and our knowledge in the area of organizational and process development allow us to provide effective assistance to companies in the sector. Our experts provide support to several leading financial institutions in resolving the above-mentioned organizational problems, from the concept stage throughout the execution.

Project experience

  • Restructuring of five critical business processes based on the Six Sigma methodology for a Romanian Bank.
  • Optimization of ATM network-related business and operation processes.
  • Project management of American Express credit card implementation.
  • Design and documentation of the concept and operational model of the new Corporate and Subsidiary Governance Portal. Audit of the IFRS consolidation prerequisite system. Design of a corporate-level group-wide reporting system for the bank card division and professional and project management support of its implementation.
  • Restructuring of the commercial banking sales organization, design of CRM, professional support for the developing CRM system.
  • IT strategy, back-end and front-end systems’ architectural design.
  • Core Banking System implementation support (GLOBUS CBS). Roll-out management, tactical-level migration management. Management of the integrated test environments. Project management support. Migration planning. DRP testing. BCP process mapping.
  • Bank Security: Enterprise User Administration system specification, implementation support and testing. Establishment of various IT security procedures and standards.
  • Restructuring of the branch operation. Efficiency audit for the branch operation. Review of the back office processes; efficiency improvement consulting. Support for the implementation of the new branch operation model.
  • Preparation of the outsourcing of the communication services. Preparation of outsourcing concept. Preparation of the tender. Management of the negotiations with the bidders.
  • Implementation of our Enterprise Architecture Management product SAMU. The bank used this product during its merger with Postabank to model and design its new IT architecture.

Success Story

Managing the implementation of an Identity Management suite at a Hungarian bank according to the expectations of the Hungarian Financial Supervisory Authority (PSZÁF)

Introducing and operating an Identity Management Suite at financial institutes is a fundamental requirement in Hungary. In addition, the goal of the bank was also to ensure its security event and policy management services while reducing auditing costs. When it came to choosing an IDM suite, AAM was selected as a partner.

Implementing the BMC (a leading provider of enterprise management solutions) Identity Management suite offered the bank a powerful solution that streamlines and ensures the provisioning process, policy-based event management, and actionable audit. It also provides enterprise-strength, end-to-end management of identities and access rights for users and helps to ease the difficulties of regulatory mandates such as Basel II by providing detailed audit and exception reports and event-based alerts.

As result of the successful implementation the bank was able to reduce costs, risks and save time while ensuring business assets were protected.

Activities accomplished by AAM:

  • defining terms;
  • project management;
  • preparation of the implementation plan;
  • analysis of current user profiles;
  • improving user profiles;
  • defining the disabling process of inactive users;
  • defining the Identity Manager User and Administrative interfaces to meet corporate and password management requirements;
  • defining how BMC CONTROL-SA can be used as an identity management solution;
  • defining and managing a basic Identity Manager configuration to support regulatory compliance.

Services

Primary services offered:

  • Process and organizational development: development, optimization of business activities; retail and corporate crediting, real estate and vehicle leasing processes, bankcard issuance, settlement acquiring, POS- and ATM-related processes, IT development and operation.
  • Front and back office organizational development. Mapping requirements, organizational and process planning, drafting regulations, introduction of new processes, and supporting change management.
  • Establishing the operation of a branch network: planning branch network structures and processes, implementation, project management, support, drafting regulations, training, quality assurance, and supporting change management.
  • Establishment of banking control and management information systems. Requirement specification based on business strategy, operation and management demands, implementation, professional quality assurance, and development of related processes.
  • Compliance with regulatory and supervisory reporting obligations: mapping, development of banking reporting service, compliance with financial crimes and money laundering acts, establishment and implementation of Business Continuity Management (BCM) solutions, auditing of IFRS consolidation, implementation of Enterprise User Administration (EUA) systems: assistance in the precise requirement specification of the system, assessment of the suitability of current processes and systems, defining those areas, that require development or improvement, drafting, supporting implementation of concrete development plans, project management, systems development, quality assurance, and auditing.

 

IT development and integration services offered:

  • Implementation of banking information systems. Supporting the selection, development and implementation of core banking systems, risk management systems, CRM and database systems, card systems, workflow applications:
    • requirement specification;
    • system development;
    • professional quality assurance of development and implementation projects;
    • systems testing;
    • systems-related process improvement.

Key References

Hungary - AEGON Hungary Credit Corp., (AEGON Magyarország Hitel Zrt.), Rural Credit Guarantee Foundation (Agrár - Vállalkozási Hitelgarancia Alapítvány), Allianz Hungary Insurance Corp. (Allianz Hungária Biztosító Zrt.), Central Credit Information System (Bankközi Informatika Szolgáltató Zrt.), Budapest Bank Nyrt., Budapest Stock Exchange (Budapesti Értéktôzsde), CIB Bank Zrt., CIB Leasing Ltd. (CIB Lízing Csoport), Citibank Ltd., Student Loan Centre (Diákhitel Központ Zrt.), Erste Bank Hungary, Land Credit and Mortgage Bank Ltd. (FHB Jelzálogbank Nyrt.), Fundamenta-Lakáskassza Building Society Ltd., Inter-Europa Bank., K&H Bank, K&H Insurance (K&H Biztosító Zrt.), Central Clearing House and Depository Ltd., Hungarian Cetelem Bank, Hungarian Export Credit Insurance Pte Ltd. (Magyar Exporthitel Biztosító Zrt.), Hungarian Development Bank (Magyar Fejlesztési Bank Zrt.), Hungarisn Central Bank (Magyar Nemzeti Bank), Hungarian Post Insurance (Magyar Posta Biztosító Zrt.), Hungarian Post Life Insurance Magyar Posta Életbiztosító Zrt., Bank of Hungarian Savings Cooperatives Ltd. (Magyar Takarékszövetkezeti Bank Zrt.), MKB Bank, MKB Euroleasing Car park (MKB-Euroleasing Autópark Zrt.), OTP Bank, OTP Bank Romania S.A., OTP Guarantee Insurance (OTP Garancia Biztosító Zrt.), OTP Hungaro-Projekt Kft., Raiffeisen Bank Zrt., UniCredit Bank Hungary Zrt., Bank of Savings Völgyes-Hegyhát (Völgység-Hegyhát Takarékszövetkezet)

Clients

Hungary, AEGON Hungary Credit Corp., Rural Credit Guarantee Foundation, Allianz Hungary Insurance Corp., Central Credit Information System, Budapest Bank Nyrt., Budapest Stock Exchange, CIB Bank Zrt., CIB Leasing Ltd., CIB Rent Ltd., Citibank Ltd., Student Loan Centre, Erste Bank Hungary, Land Credit and Mortgage Bank Ltd., Fundamenta-Lakáskassza Building Society Ltd., Inter-Europa Bank., K&H Bank, K&H Insurance, KELER, Hungarian Cetelem Bank, Hungarian Export Credit Insurance Pte Ltd., Hungarian Development Bank, Hungarian Central Bank, Hungarian Post Insurance, Hungarian Post Life Insurance, Bank of Hungarian Savings Cooperatives Ltd., MKB Bank, MKB Euroleasing Car park, OTP Bank, OTP Bank Romania S.A., OTP Guarantee Insurance, OTP Hungaro-Projekt Kft., Raiffeisen Bank Zrt., UniCredit Bank Hungary Zrt., Bank of Savings Völgyes-Hegyhát

Website last updated: 2019.10.01