System synchronisation – the IT behind company mergers4. April 2016
Good IT is hidden under the bonnet. Not much of this is seen, but if something goes wrong, there is a problem. This is all the more noticeable if a company’s basic software systems need to be adapted. A current project in our portfolio, which is dedicated to finding the right ‘engine management’ system for the job, is the harmonisation of systems between Valartis Bank and Wiener Privatbank, after Wiener Privatbank took over Valartis.
Both banks have been successful for many years and have many customers, and these customers should of course not suffer any operational disruptions as a result of the system migration. Both banks have been using CPB’s core banking software, TAMBAS+ for many years – albeit in different implementations.
In the first step, the two systems were synchronised, meaning that joint balance sheets, analyses, and valuations that meet all formal requirements are now possible.