Providian Trust Case Essay

973 Words May 18th, 2012 4 Pages
HULT International Business School
Module C Information technology management
Professor: Jim Slusser

PROVIDIAN TRUST: TRADITION AND TECHNOLOGY (A)

Fenway Cohort

Kamanasish Kundu

1. Business Context/Key Business Drivers * In 1994, Providian Trust, the tenth largest provider of financial and fiduciary services, slowly slipped away from profitability and competition due to the lack of efficient business processes and information technology. * The company was headquartered in New York and had three divisions Pension and Institutional Trust Services (PITS), Personal Trust and Trust Operations with a network of 216 branches. * To address the
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The new centralized system will bring more transparency and will force discipline across divisions. * The company was expecting to save $9.2 million every year by implementing these changes. 3. Initiative challenges * Most of the Providian trust officers had 20 to 30 years of experience of managing client relationship on a personal level and had never touched a personal computer. The employees were highly resistant towards any change. So, to implement these changes, the employees needed to be trained to become more sales and service oriented instead of only responding to client phone calls. Strong criticism from day one by the internal auditor, Peter Storey. * Lack of project management experience. Le Blanc formed the project management team of 15 representatives headed by Todd Benari, the vice president of Trust Operations. Le Blanc had no project management experience so he relied on a very inexperienced project management team under Benari. 4. Results Although the intention of the project is quite notable and praiseworthy, but I seriously doubt the success of it from the project management experience which I have gathered over the years. The key reasons are listed below: * Lack of proper leadership: Le Blanc seemed to be the only person driving the project. Since the division was the

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