A large commercial bank knew that it's large corporate clients were moving away from phone-based transactions to automated transactions via internet based systems.

Their market share had shrunk by 20% in key market segments and they had no strategy to meet the new market competitors.

Project 

The project was to design and implement an e-commerce business strategy, market approach and technology strategy. The approach included a management restructure, resources plan and implementation plan for the business to take full advantage of the new technology.

Result

After detailed analysis, the business strategy was finalised and a detailed technology strategy was structured to build an open infrastructure and architecture that allowed access to best of breed pricing engines, fast integration to legacy systems and the capability to quickly adapt to market changes.

Internal development expertise was developed and a co-ordinated business and technology team based on aggresively targeting the electronic markets business in Australasia. 

This resulted in a single pricing and transaction platform used globally across 10 different business units, reduced integration costs by 90% and reduced pricing errors by 98%. The project was used as best practice for many other open projects in the bank.