Providian

1. Providian Trust being the 10th largest financial and fiduciary services provider, slowly deteriorated in terms of profitability and competition in 1994 due to lack of efficient business process and IT. The key motive behind the initiation of Access Plus was due to the following reasons:

* Forceful client demand on the part of PITS division.

* Trust division lacked control and discipline.

* Operation efficiency and outdated reporting systems as far as the clients concerned.

* To convert the trust divisions expired information system to more efficient system.

* Seeking improved methods to serve the clients.

* Time, Quality and Cost improvement.

* Improper tracking of all the services gave way to a huge price and thus led to a centralized tracking system.

* Lack of knowledge on using different types of technology and software.

* The institutional custody business became technology concentrated with some of them outsourcing the entire backroom function to have an effective operations.

* The Front and back offices performed administrative functions. So there were blame games between trust officers and operations people.

2. To ensure success of Access Plus project, Providian has to make many organizational changes:

* Give computer lessons to front office and back office aiming to teach them to process data through computers.

* Full project testing can be implemented and deadlines have to be extended.

* Communication among all divisions of the company have to be enhanced and people who are going to be affected by the change have to be involved.

* Adapt to market changes regularly and also change to a better client/customer oriented environment.

* The client relationship managers, sales team, and portfolio managers would be decentralized to enable them to sell to their clients and the trust operations would be centralized.

* Changes have to be made to the front office of PITS, Personal...