Private Bank Internet Strategy

Situation

One of the largest global private banks needed a Web offering to stay competitive. Bank management had little or no experience with the Internet and was not sure of client needs, but saw other private banks going to the web and felt they had to do something.

What we did

Ran an intensive one-week workshop to set vision, strategy, plan and budget.
Interviewed more than 100 private bankers and their clients to identify needs.
Traveled around the world to build consensus with business units.
Created a C-level governance board.
Staffed, organized and managed multi-functional team (marketing, content, design, technology, client support).
Selected, negotiated and managed vendors (software producers, onshore and offshore software developers, content providers such as news and market data services.)

Obstacles

Complex political situation, since project touched every organization in every geographical region. Legal and compliance issues. New technology for the firm. Short time frame.

Results

Client website was built and deployed in six months. Processes in place for distributed content management, user training and client support for Europe, Asia and the Americas.

Other Case Studies:
FpML-based Data Architecture for Investment Bank
Architecture and Implementation Plan for a Hedge Fund Manager
Swap Trading Front-end for a Hedge Fund Manager
Portfolio Accounting System Testing and Conversion for a Fund Administrator
Offshore Outsourcing Program Development for a Private Bank
Enterprise Data Model for a Private Bank

Skills

Facilitation

Strategic planning

Business requirements analysis

Onshore and offshore vendor selection and management