The Client Profile

A leading Eastern European bank with decades of experience and a strong presence in several regions. They serve millions of customers through a large network of branches and digital platforms.

Industry: Banking and Financial Services
Location: Eastern Europe
Size: Major regional bank with a significant market presence
Challenge: Need for dedicated IT expertise and scalable technology operations

Business Challenges

The bank faced several complex challenges that necessitated a strategic response:

Talent Acquisition:

The local market presented significant difficulties in sourcing and retaining specialized IT talent, particularly in emerging technologies and banking-specific systems. The competition for skilled professionals was intense, and the available talent pool was limited.

Cost Optimization:

Operating costs in primary markets were escalating at an unsustainable rate, with technology spending becoming a significant concern. The bank needed to optimize its technology investments while maintaining service quality.

Technology Modernization:

Legacy systems require urgent modernization to meet evolving customer expectations and regulatory requirements. The bank needed to accelerate its digital transformation while ensuring system stability and security.

Scalability:

The dynamic nature of banking technology demanded a flexible team structure that could scale rapidly based on project demands and new initiatives.

mverve’s Solution

To tackle these challenges, mVerve crafted a phased approach, establishing an IT Center of Excellence (CoE) tailored to the bank’s unique needs.

Phase 1: Initial Setup

• Conducted comprehensive needs assessment
• Designed custom CoE framework
• Identified key technology focus areas
• Established governance structure
• Opened a dedicated office to allow closer collaboration and faster responses.
• Recruited initial 15-member core team

Phase 2: Implementation

Team Structure:

• 1 Program Manager
• 2 Technical Architects
• 4 Senior Developers
• 6 Developers
• 2 QA Engineers

Phase 3: Operational Excellence

• Implemented agile methodologies
• Established KPIs and performance metrics
• Created knowledge management systems
• Developed training and upskilling programs

Key Achievements

mVerve’s CoE solution delivered measurable outcomes that elevated the bank’s technology operations:

Cost Efficiency: 30% reduction in operational costs and optimized resource utilization

Quality Improvements: 40% faster project delivery and 25% reduction in production issues

Innovation: Successfully implemented 5 major digital banking initiatives

Team Excellence: 95% team retention rate and high employee satisfaction scores

Key Success Factors

Strategic Location: Optimal mix of talent availability and cost benefits

Strong Governance: Robust processes and clear communication channels

Cultural Alignment: Focus on building integrated teams

Technology Excellence: Best-in-class tools and methodologies

Discover how mVerve’s tailored Center of Excellence solutions can drive your digital transformation, optimize costs, and scale your technology operations.

For more details write to us at hello@mverve.com or call us at +1-703-665-4264 and click here to view more about our Global Capability Cent