In this episode, Duncan McLeod interviews Absa Group CIO Wilhelm Krige about the mammoth project, now mostly completed, of separating the banking giant’s IT systems from former parent Barclays.
The total cost of the separation amounted to R17.5-billion, with Barclays paying R12.6-billion to help fund it. Much of this spend went to the IT project involved in separating the systems of the two banking giants, with a significant amount also earmarked to marketing costs associated with the rebranding to Absa.
In the podcast, Krige talks about the scope of the IT separation, the complexity involved, how the group got it right with only a few hiccups along the way, and how it has positioned Absa for future innovation and growth.
He covers the milestones achieved during the project and what he’d do differently with the benefit of hindsight.
He also talks about the involvement of regulators in the project and why they had to be kept regularly updated on the progress.
Lastly, Krige explains the impact of the Covid-19 lockdown, both on this project and on the bank more broadly.
It’s fascinating discussion about one of South Africa’s biggest-ever IT projects with one of the country’s leading CIOs. Don’t miss it!
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