Headquartered in Raleigh, North Carolina, First-Citizens Bank & Trust Company offers a complete line of financial services, including personal and business banking, wealth management, investment services, insurance, and more.
A challenge for the bank was that it had five separate loan systems that needed to be consolidated, over 200 applications that were point-to-point integrations and not very scalable, and multiple acquisitions being on-boarded at the same time. It needed a way to reduce its applications portfolio, streamline integrations between systems, and quickly assimilate systems from new banks. In addition, its front and back office processes were asynchronous, which also led to pain points.
“Our overarching business goals were to enhance products for customers and create efficiencies so we could serve them better and faster, as well as to increase agility and continue to grow,” explains Dan Hudson, manager of systems integration architecture. “If we had not been able to remove some of these inhibitors, we would have continued with business as usual, the business pain would still exist, and it would have caused a longer time to market. The business would not have been able to continue to grow its market and customer base.”
Among other benefits, learn how the bank took an 18-month roadmap for credit card opening and turned it into an 18-week project resulting in online, in-branch, and call-center credit card application approvals within 60 seconds.
“Our customers and business partners saw that in a day we had real-time services running in our development environment,” says Hudson. “It was so fast and clean that we were able to get to market faster, and we already see that reflected in customer satisfaction.”
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