This UK-based Investment Bank provides a wide range of products to commercial, large corporate and institutional customers. Following a strategic change in direction the bank implemented a significant cost reduction programme focussing on strategic stronger and more sustainable businesses. Annual cost reduction targets are in excess of £1bn per annum.
Reduction targets where not being met due to multiple disjointed initiatives suffering from a lack of cohesion and partnership between business, application and infrastructure teams. The bank needed to accelerate the delivery of infrastructure cost reductions at the same time as maintaining a high level of customer service. There was a need to raise employee engagement to ensure that staff were focused and motivated to contribute to the long-term success of the bank.
How StrataPrime Helped
Using a tried and tested pragmatic approach and methodology we increased the focus, partnership and cohesion of existing programmes of work. An integrated communications plan from initial engagement through to strategic cultural change transformed the identification and delivery of infrastructure estate reductions. The scope of our remit expanded from one initial technology unit to Investment Bank wide coverage after the realisation of how our approach and methodology increased employee engagement and delivery of benefits.
The Investment Bank is back on track to reduce its infrastructure estate to meet two-year targets. Increased partnership between business, application and infrastructure teams has also enabled significant long-term challenges to be tackled utilising the most cost-effective infrastructure platforms and offerings.