International bank

Summary

Alsbridge was appointed specialist advisor to this international bank, to assist in a major transformational ITO strategy. Due to ever growing customer needs and the expanding capability of competitors, the bank needed to remedy technological and operational issues to truly transform its business.

Objectives
 
The overall objective was to ensure the bank achieved “Well Managed Bank” status, by replacing the ageing core banking system with a new model to deliver operations globally, whilst improving the robustness and resilience of IT operations.

Activities
    
Alsbridge has been a core strategic partner since March 2008. Key activities have included:
  • Supplier selection – Alsbridge conducted market research, due diligence and analysis of suppliers and systems in order to provide a comprehensive short-list of potential ITO and banking system suppliers. We then developed the RFP, managed the proposal, presentation, reference and site visit processes. Alsbridge also aided the bank in assessment of the returned proposals and recommended a way forward to the CEO.
  • Vendor management – Provided strategic guidance on vendor management strategy, setting -up a Vendor Management Office across 9 countries to help produce savings through leveraging supplier costs, improve control and monitor and enhance supplier performance.
  • Transition – Provided full support to the IT Transformation programme which included seeing the transition to the new operating environment, and ensuring all Bank retained infrastructure, systems and services are supported / retired during transition and ongoing.
Results

This deal will ensure a cost saving of around 20% compared with the cost of delivering the programme in-house. And despite the large up-front investment in transition, transformation and change, payback will be within 3 years.
 
Testimonial 
“Alsbridge have provided expert advice throughout the process. The knowledge, professionalism and hard work of their team on the ground has helped us to shape a deal with EDS which will enable us to improve our systems, realise significant efficiencies, and enhance our operating capabilities going forward to the benefit of all our stakeholders. The Alsbridge team has demonstrated deep expertise in IT Outsourcing and systems implementation – in terms of both the technical solution and the commercial deal - which has complemented the Bank’s team and has enabled us to reach this critical milestone”