Mergers & Acquisitions

A major Australian bank acquired an emerging neobank as part of its strategy to accelerate growth in the digital banking industry. With the intention for of long-term growth in the sector, dedicated project activities followed a multi-directional approach to ensure system integrations and process implementations would be suitable not only for the present, but also future-proofed to match the bank’s long-term growth ambitions.

Armour Consulting was engaged to support the Finance, Tax and Treasury divisions through the whole project life cycle, from acquisition to end-state integration. Liaising with bank personnel, Armour developed the business requirements to support the consolidation of critical functions including regulatory reporting, liquidity risk management and securitisation.

A key milestone was the successful return of the neobank’s ADI license back to APRA. Through consultation with stakeholders, Armour developed an itemised run sheet to coordinate the ADI return process, and simultaneously conducted process impact assessments with complementary documentation uplift to support transition into the end-state. Subsequently, Armour provided support to the implementation-testing cycle and captured the future FTT operating model of the bank.

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