Renewed IT infrastructure at VÚB Banka
VÚB Banka successfully completed the IT and operational transformation and data migration at the VÚB CZ subsidiary.
The new year of 2021 brought significant changes to the life of VÚB Banka and saw the organization successfully complete the data migration activities as the last major accord of its IT and operations transformation program, Constellation.
MINDSPIRE Consulting’s team of experts played a significant role in the two-year long program.
The bank started its first business day of 2021 on a completely renewed IT platform, with changes in almost every layer of the architecture. The complexity and magnitude of this program was unprecedented in the history of the bank.
The Group-wide Constellation program, that has been running at multiple members of the IntesaSanpaolo Group (ISP) since 2016, aims at the comprehensive modernisation of the member banks’ information systems with the Core Banking Information System (CBS) in the centre. The group program involves replacing the Core Banking platform with a modern global solution (Oracle’s FCUBS suite). As a result the ISP banks will be ranked among the global financial institutions with the best for business management technology.
Success couldn’t have been achieved without the strong cooperation of VÚB’s resources and the several vendors involved. MINDSPIRE’s team of 25 played a key role in two main areas: providing subject matter experts of Core Banking System implementation and Data Migration services.
As part of the implementation activities, our team played an important role in requirement collection and analysis, managed and executed the initial setup and functional testing of the Oracle FLEXCUBE core banking system suite, supported integration and acceptance testing and served as a primary liaison between the Bank and the CBS vendor.
“VÚB (Všeobecná úverová banka) is the second largest bank in Slovakia and the only universal bank licensed to provide the full range of banking services to the public, corporate and institutional clients. The focus of VÚB’s offering is mortgage and consumer loans, deposit and payment products and services, corporate banking, financing of foreign trade activities, consumer finance, and factoring.
Through its subsidiaries and affiliates, VÚB offers leasing services (VÚB Leasing) and retirement savings (VÚB Generali). The bank is also a provider of insurance products.
VÚB provides its services through a wide network of commercial units, which includes 182 retail outlets, 8 Magnifica centres and 32 branch offices dedicated to serving small and medium-sized businesses. In addition, VÚB Bank operates 11 mortgage centres, specializing in complete housing-related finance services.”
Source: https://www.vub.sk/en/people/about-vub-bank/bank-profile/
Migration Services covered the complete data migration spectrum, including planning mapping, transformation and execution of automated migration domains and supporting areas where migration was manually executed, not limited to the Oracle FLEXCUBE CBS, dealing with multiple source and target systems in the IT architecture.
Our team also managed to introduce and utilize two of our main software products:
- DELTA Data Migration Tool to support the data management – such as data mapping, transformation and validation – during the migration.
- FLEXCUBE Parameter TRANSPORT Tool that automates the parameterization and parameter transfer of the Oracle FLEXCUBE core banking sysem and vastly helps the environment management activities.
Both MINDSPIRE streams participated in dozens of test cycles, rehearsals, and workshops, and we believe that our contribution was key towards the successful completion of the Group-wide Constellation program.
As much as it was for the bank, the project was challenging for MINDSPIRE team also, making the ever so important first impressions at VÚB with the clear intention to establish a strategic partnership. We had to make sure that we demonstrate our professional competence as well as our positive work attitude and our ability to deliver.
The project was utilizing experts and vendors from many different countries. We worked together with colleagues from Slovakia, Czech Republic, Italy, UK, Poland, Hungary, Spain, Romania, India, Serbia for more than two years, whether working together at the site of the bank, or collaborating remotely over time zones due to the geographical setup. MINDSPIRE’s team itself was also multinational, with our Slovakian and Serbian colleagues taking part in the project activities as well.
As of the first quarter of 2021, we were still involved in the post Go-Live phase, providing production support and further subject matter knowledge in specific areas. MINDSPIRE Consulting is very proud to be associated with VÚB and the Constellation program, we are honoured that we could be a part of this endeavour and could assist VÚB in its strategic transformation programme.
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