Providian Trust: Tradition and Technology (a)

Topics: Project management, Management, Trust Pages: 3 (859 words) Published: January 20, 2013
IT Management –

Providian Trust: Tradition and Technology (A)

Rishi Kothari
Team 5 - SouthEnd

Business Context/Key Business Drivers
* Providian Trust was headquartered in New York. In 1994 it was the 10th largest provider of financial and fiduciary services through its network of 216 branches. * The company has 3 divisions, Pension and Institutional Trust Services, Personal Trust and Trust Operations * The company’s lending products—including residential and commercial mortgages and consumer and corporate loans. * The Company slowly slipped away from profitability and competition due to the lack of efficient business processes and information technology. * Michael LeBlanc the Senior VP of Trust, Investment and Treasury took the initiative to handle the project and address the problems faced by Providian Trust. Le Blanc was required to not just implement the new technology but also improving Providian Trust’s business processes by implementing Access Plus, a major software system developed by Select One. * With a budgeted cost of $18 million and lead-time of 20 months the board finally approved the project in April 1994. * The Key Drivers behind this new initiative was intense client demand on the part of PITS division. Low operational efficiency outdated reporting systems, lack of control and discipline in the trust division only made the case stronger. Initiative Objectives/Benefits

* Increase Control and Discipline-
* PITS and Personal Trust Employees (front office) and Trust Operations Employees (back office) constantly blamed each other in case of any fault. The New centralized system is supposed to increase accountability, improve transparency and force discipline across divisions. * As mentioned in the case the clients had to wait for 2 to 3 months to get a statement. To decrease the cycle time and improve operational efficiency was a major objective. * Sometimes due to inaccurate or late statements...
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • Essay on Providian Trust:"Tradition and Technology
  • Providian Trust: Tradition and Technology (a) Essay
  • Providian Trust Essay
  • Providian Trust Essay
  • Essay about Providian Trust
  • Providian Trust Essay
  • Providian Trust case memo Essay
  • Providian Trust Case Analysis Essay

Become a StudyMode Member

Sign Up - It's Free