The financial sector has seen significant merger and acquisition activity in recent years, and many financial firms are continuing to explore potential deals to partner with or absorb complementary institutions.
These deals are driven by a range of factors, including a desire to expand into new geographical territories, increase product and service offerings, and leverage valuable human capital and digital assets. When executed well, M&A deals can help accelerate growth and improve a firm’s strength in the marketplace. But these major transactions can present a number of significant integration hurdles — including the challenge of bringing together two or more organizations’ disparate IT environments.
To overcome these challenges, and to create a new organization that is positioned to compete and innovate in the future, business and IT leaders must work together throughout the M&A process. First, they must identify challenges and opportunities presented by existing IT assets; next, they must create a plan for integrating technology; and finally, they must do the work of consolidating systems in ways that both minimize confusion for employees and maximize value for the organization.