Case 1 (Providian Trust) / Analysis write-up/discussion questions. (1) What key issues and challenges led to the initiation of the Access Plus project? Please think about the external vs. internal and business vs. technological aspects of the issues and challenges. From an internal point of view‚ Providian Trust board members felt that the trust’s information system was outdated and therefore the day-to-day activities‚ which could be done more efficiently with a new software and process‚ were
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Providian Trust Case Study Executive Summary: Providian Trust is a company which is rich in tradition‚ experience‚ and a high level of customer service‚ but was void of technology‚ information management‚ and therefore also void of an IT competitive advantage. Providian Trust was in major need of reengineering and simply implementing a new software system (Access Plus) was not going to give the company a competitive advantage. The company was going to need a dramatic redesign of business processes
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Business Context/Key Business Drivers Providian Trust delivers financial and fiduciary services to clients across 216 branches. In an industry built on servicing clients‚ many of Providian Trust’s trust officers had 20-30 years of experience with the company and managed clients at a personal level. The trust officers had total control over what was sent to the client‚ including generation of financial statements. Control of the financial statements often resulted in a 2-3 month lag in statement
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Project Background Providian trust head quartered in New York‚ delivered financial and fiduciary services through a network of 216 branches. In 1994‚ this company managed $49.4 billion in trust asset with a staff of 840 full time employees. Sixty percent of company’s fee income and 9% of gross earnings generated by its fiduciary business that year. Though they had a huge team working on the front and back office handling and record keeping and settling activities‚ there was always a chance for
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Providian Trust: Tradition and Technology Business Context Providian Trust provided financial and fiduciary services through 216 branches Headquartered in New York with a staff of 840 full-time employees. Managed $49.4 billion assets through three divisions - Pension and Institutional Trust Services‚ Personal Trust Services‚ and Trust Operations. Only Personal Trust Services division was profitable with $6.7 billion of assets. Key Business Drivers Due to significant competitive situation
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Providian Trust Case Analysis 1 What key issues and challenges led to the initiation of the Access+ project? In my opinion the key issues and challenges to the initiation of the Access+ project are as follow： 1.1 As the case illustrates‚ Stephen Walsh is the new CEO of the Providian Trust Company. He was a lawyer‚ and he was to be trained and got some skills of how to deal with conflict and make a judgment. It means‚ maybe the new CEO is good and professional in managing the company‚ but not known
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information system for Providian’s trust division causing undue advantage to more technologically advanced competitors. Veteran Trust Officers spend a lot of time correcting statements‚ costing the company around $2 million to $5 million on discounts and waived fees because of discrepancies in financial statements. a)As a solution‚ the firm decides to develop Access Plus‚ a new trust and custody management software‚ but is facing firm resistance from several groups (Personal Trust‚ PITS divisions and New England
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FIU Healthcare MBA Program MAN6380 – Organizational Information Systems Professor Weidong Xia Case 1 (Providian Trust) – Analysis write-up/discussion questions (1) What key issues and challenges led to the initiation of the Access+ project? (2) What organizational changes that the company should have been made (but failed to do) before and during the project to ensure the success of the Access+ project? (3) What were the strengths and weaknesses of Providian’s approach in managing the project
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Providian Trust: Tradition and Technology Business Context Providian Trust Company provided financial and fiduciary services with 216 branches. Headquartered in New York‚ with $49.4 Bn. trust assets and staff of 840 Full-time Employees. Residential mortgages‚ commercial mortgages‚ consumer and corporate loans were the principles sources of revenue for Providian Trust. Providian Trust business was mainly into: Pension and Institutional Trust Services (PITS) – Tenth largest Provider.
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Providian Trust: Tradition and Technology (A) Principles of Information Systems GIST 500 Dr Goel CASE SUMMARY Providian Trust was a major trust company that provided financial and fiduciary services. Its principal source of revenue came from which include residential and commercial mortgages‚ and consumer and corporate loans. Michael LeBlanc‚ the Senior Vice President of Trust‚ Investment and Treasury‚ led the project aimed at reengineering Providian Trust’s business processes by implementing
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