TD Banknorth Acquisition Support

Challenge

TD Banknorth needed control and management support for the technical components of an acquisition. They needed technical leadership to help bridge technology related activities with their various business lines.

TD Banknorth used an aggressive acquisition strategy to fuel its growth. Making these acquisitions a smooth process for bank customers, internal operations, and from a profitability perspective requires the synchronization of many technical and business process components.

TD Banknorth did not have a repeatable process for acquisitions. Technology efforts were handled on an ad hoc basis—often leaving projects and tasks outstanding years after the legal completion of an acquisition causing significant budget and operational challenges.

Value Delivered

NCG came in to manage the technology components of TD Banknorth’s acquisition of Interchange Bank in New Jersey. This support included coordination with the Bank’s different business lines to ensure a smooth process—executed effectively and efficiently.

NCG helped design, plan, and execute multiple system conversions and platform migrations ranging from Internet Banking, middleware/SOA infrastructure, core banking systems, and optical systems.

Results

NCG helped TD Banknorth accomplish its acquisition of Interchange bank on time and under budget. NCG helped ensure that all technology efforts were completed and eliminated the long list of outstanding items that had encumbered the Bank in previous acquisitions.

NCG helped develop a number of model conversion and migration processes for the Bank. NCG used these model processes as the basis for an Acquisition Template. This web-based template provides the Bank with a repeatable and scalable acquisition process from a technology perspective.

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