Launch of an Investment Bank branch in Mexico
A globally significant Swiss bank were looking to open a branch of their investment bank in Mexico City offering FI, FX and repo products. Previous attempts to launch branches in emerging markets had been beset by significant delays in IT build, testing and receiving regulatory licences. The Mexican banking authorities required that a successful demonstration of all banking processes were made within a specified time from initial application for a banking licence, therefore this launch needed to happen on time and to a set level of quality.
Activity / solution
- Designed, received approval for and implemented a testing strategy, approach and methodology.
- Planned and managed the final stage of testing over four months, this involved co-ordination of 80+ people in London, Mexico City and New York.
- Liaised with the Mexican banking authorities to plan the demonstration of the banking processes and key control functionality.
This testing phase of the programme was delivered on time and to budget. The investment bank were awarded a Mexican banking licence with no caveats. The testing strategy, approach and methodology were adopted across the emerging markets organisation.