Viewpointe
Success Stories

How Viewpointe paved the way for a smooth transition in a multi-billion dollar bank merger

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Financial institution's assets:
Over $1 trillion
Acquired bank's metrics:
Nearly 2 million customers, over 500 branches and wealth offices
Number of items migrated:
Over 1 billion check images

Industry: Banking

SUMMARY

This success story delves into a prominent financial institution’s successful migration of over 1 billion check images. After acquiring another bank with 1.8 million customers and 500 branches, the institution collaborated with Viewpointe, a leading managed content services provider, to easily navigate the complexities of the migration. Together, they achieved a seamless migration within months, meeting both customer and consumer demands.

The migration involved intricate processes such as transfer, field translation, file formatting, loading, archiving, and image reconciliation analysis of over 1 billion check images spanning seven years.

ABOUT

This highly diversified financial services provider is one of the largest banks. With total assets of over $1 trillion as of October 2022, the institution provides a broad range of personal and commercial banking, wealth management, and investment banking products and services to 12 million customers, conducting business through three operating groups. 

In 2023, this financial institution completed the acquisition of another bank, which garnered nearly 2 million more customers and over 500 additional branches and wealth offices in key U.S. growth markets. This strategic move propelled the financial institution’s total assets to over $1 trillion and expanded its customer base to 13 million by late July 2023.

CHALLENGE

Following a significant 2023 acquisition, the financial institution faced the formidable task of converting systems and customer accounts governed by a strict operational and business conversion timeline.  

SOLUTION

Leveraging the expertise of a managed content service provider, like Viewpointe, significantly streamlined the process. The financial institution and its newly acquired bank worked with Viewpointe on the migration which involved intricate processes such as transfer, field translation, file formatting, loading, archiving, and image reconciliation analysis of over 1 billion check images spanning seven years.

Due diligence from both banks was crucial to secure transfer and loading of legacy items, detailed legacy data field translation specifications, reconciliation of items, and responsibility for the security of legacy data devices and images during shipment to Viewpointe’s facility. 

RESULTS

With the help of Viewpointe, the bank seamlessly migrated billions of items from the acquired bank within months. Viewpointe facilitated transfer, field translation, file formatting, loading, archiving, and image reconciliation analysis. The meticulous validation process concluded in a swift transition of over 1 billion items within four months, meeting the deadline set at the agreement’s outset. Having a partner, like Viewpointe, that you can rely on with institutional knowledge, consistent communication, and agility in troubleshooting proved instrumental in achieving success. 

This success story exemplifies the synergy between strategic collaboration and technological expertise in navigating the complexities of financial services integration.

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How Viewpointe paved the way for a smooth transition in a multi-billion dollar bank merger