AttentiV Systems Group plc (London ATN) (formerly Lynx Financial Systems) has announced that the Britannia Building Society has completed the implementation of Summit Savings, the investment module of AttentiV's retail banking system.
During the course of one weekend, 3 major projects were completed - the migration of 2.5 million investment accounts and 65 million transactions from Britannia's old system into Summit Savings, the implementation of AttentiV's branch teller system at 190 branches and the integration of these systems into Clientwise, the Customer Relationship Management system from FINEOS.
This final implementation marks the completion of the Britannia's £60 million Really Big Project - a groundbreaking, 3-year technological and change management programme to replace all the Society's core front and back office systems. The anticipated financial impact of the Really Big Project through savings and increased revenue is £137 million.
Britannia programme manager, Mark Gater, commented "AttentiV Systems have played a vital role in the Really Big Project and were responsible for a number of key milestones over the 3-year period, covering the implementation of flexible mortgages, new mortgages, insurance and savings, along with the implementation of AttentiV's branch teller system."
He continued, "We've already realised a number of benefits since the programme's inception in 2001. The extensive product capabilities of the Summit system have allowed us to offer daily interest calculation across all Britannia's mortgage products, and we have been able to introduce flexible mortgages which now account for 20% of our mortgage business. The increase in profit from improved mortgage sales has been around £2.2 million. The total expected impact of this benefit, based on our corporate plan, is in excess of £72 million."
The final stage of the project was extremely time critical, to ensure that data migration was complete and the branches were live on Frontline, AttentiV's branch teller module of Summit, before branch and head-office staff arrived for work the morning after conversion.
Commenting on the final stage of the project, Mark Gater said "Internally, we'd had a huge communications programme to explain to staff what was happening, alongside an extensive training programme to ensure that staff were familiar with the new branch system. It was absolutely essential that we met the deadline for project completion and AttentiV played a pivotal role in ensuring that the Britannia's most business critical and customer visible systems were implemented on time and with no loss of service to customers."
David Webber, Managing Director of AttentiV Systems said, "The successful conclusion of the programme is a real achievement for the Britannia, and I'm particularly pleased that AttentiV has had such a central role in this ground breaking project. Our work with the Britannia will continue - our next project is to help ensure that the Society meets the 1st November deadline for Mortgage Conduct of Business compliance, and I look forward to a long and successful relationship with them."