Ever been 10 minutes into a movie when you look at each other with that “did we see this already expression?” Then the guy with the sunglasses gets back in the car and---right--the explosion fills the screen. “Yep, we saw this before.” That’s partly due to Netflix and Amazon, but partly due to the nature of things. After a while, most movies seem to be repeats, remakes or sequels. Such is life.
We now have an independent fintech firm bought out by much older, much larger firm. We’ve all seen this movie before, but the genre depends on your perspective.
Romance: This is the one that is always promoted by the acquirer. Ron O’Hanley has already been on CNBC, warmly describing the synergies and rainbows that will naturally occur as a result of the deal. If you are a current user of CRIMS, you may be skeptical, but for those of you out there that that found a relationship with CRD senior management to be stressful, volatile and sometimes completely bewildering, you may have reason to feel optimistic about a bank. Bankers can be cool and distant, but at least they’re predictable.
Action-Adventure: Big banks have lots of money and lots of people, right? All of those new features you’ve been waiting for will now be fast-tracked. Upgrades will happen with a push of a button. Bugs will be a thing of the past, as they are annihilated by the new auto-immune system. The newest version even has an built-in translator, so when the credit derivative traders describe the same workflow six different ways, the views will auto-configure for their current and future needs.
Actually, that’s the sci-fi version, coming to you soon in zero gravity.
A better plan is to get clarity on the key things your firm needs (not the whole JIRA database), prepare a few slides that succinctly describe what is unique about your business to the new relationship managers and set a schedule for follow-up meetings before their calendars fill up. (And remember, they still can’t fix it if you can’t recreate it.)
Horror: The hair on the back of your neck stands up as a chill fills the office. Strange whispers in the hallway, but when you look—no one is there. A muffled shriek from another cube makes you start from your chair, and your heart is pounding as the chat box materializes on your screen.
No, please no! Not the OMS!!
Senior management wants a huddle meeting to discuss the possibility of a (gulp) conversion. Images of the last conversion rise, unbidden, in the dark recesses of your mind. Shattered budgets, PMO departments broken by the 4,700 hundred rows of the project plan; colleagues crushed under the weight of the Power Point decks and bright-eyed business analysts’ enthusiasm consumed by voracious issues lists.
Take a deep breath. Keep your wits about you and don’t agree to any timelines yet. Also, it’s really cold in the conference room, so grab a jacket. And remember--IMP can help. You may also email us directly at email@example.com or call (617) 314-7415.