LUMINOR

WORKFORCE MANAGEMENT SYSTEM'S CARVE-OUT

ABOUT CUSTOMER: Luminor is the third-largest provider of financial services in the Baltics, with approximately 1 million clients, 2500 employees, and a market share of 16.6% in deposits and 18.7% in lending. Luminor’s holding company is the Blackstone Group Inc. - an American multinational private equity, alternative asset management, and financial services firm based in New York City.

 

CHALLENGES

CHALLENGES:  DNB bank and Nordea bank merged their Baltic entities in Lithuania, Latvia, and Estonia, under Luminor brand. The unique situation emerged - one bank with two different IT architectures. In this case, back-office employees used two distinct systems, logins and each back-office employee had two computers to log into separate networks. 


There was a natural need to bring the services, products, and business processes together under one umbrella, i.e. a unified system. So the company has been experiencing a digital transformation, to future banking and this is the reason why many IT Carve-Out projects occurred. Thereby, those IT Carve-Out projects are always cross-functional, hence happens, among others, on an organizational, financial, legal, and technical level.


Workforce Management System Carve-Out project initiated by Luminor as a part of Carve-Out projects to fully exit the Nordea network on software and hardware levels.

 

BUSINESS
NEEDS

THE MAIN BUSINESS NEEDS WERE:

 

  • To enable more exact project’s profitability tracking.

  • To enable more accurate workforce planning in operations;

  • To enable reporting functionality on time spent performing various tasks;

  • To increase efficiency in back-office operations;

  • To have one and unified system for all back-office employees;

  • Ensure high-security standards.

 

EXPERTISE
PROVIDED

FUNCTIONAL AND TECHNICAL EXPERTISE PROVIDED:
Luminor collaborated with ADDENDUM to share our exceptional expertise in Workforce Management Systems. Because Workforce Management is a business process not only a technology solution, there is a need to apply a strong focus to internal processes and methodologies. Addendum’s hands-on experience on WFM tools and the ability to determine the best fitting software in terms of features, functionality, and business process, qualified us to provide expertise in the following areas:

  • Business needs and processes analysis.

  • Business and Technical Requirements.

  • Solution Design (Architecture).

  • Testing.

ACTIVITIES CARRIED OUT

  •  “As-Is” situation analysis: initial analysis, business process analysis.

  •  “To-Be” business processes re-engineering.

  • Functional requirements gathering and alignment with business stakeholders.  

  • Non-functional requirements gathering and alignment with business and IT stakeholders.

  • IT architecture preparation. 

  • Public tender document’s preparation.

  • Expertise and assessment of of-the-shelf products.

  • Business processes/ workflows configuration.

  • User acceptance testing: test case preparation and execution. 

  • Final set of documentation for future improvements. 

BUSINESS
OUTCOMES

 The new WFM solution was implemented without major BAU (Business-As-Usual) interruptions. Luminor benefited from this project in a few ways:

This project HELPS CUT ON COSTS: a new Workforce Management system helps for our customer save money not only by automating key processes, freeing up time for most important members of staff, and helping accurately budget and forecast but also by eliminating double hardware and software infrastructure for the same back-office users. 
 

SAVES TIME and PROMOTES SELF-SERVICE AT THE WORKPLACE: by automating key processes, customer’s employees are able to save time that would have been consumed to perform tasks manually, it reduces paperwork and helps by leave management. 

TRACKS PROJECT’S PROFITABILITY AND GATHERS INSIGHTS ON THEM, helps by resource planning in operations, reports on time spent performing various tasks.