Boost your efficiency: Bank on IT
Imagine reducing your status reporting from 70 hours to just 1.5 hours. Instead of the exhausting search for greater and newer sources of revenue, what if you could create a huge impact by simply reducing your costs? Not just a little here and there, but rather a dramatic cost reduction which frees up scarce resources. With productivity improvements expected every time you report the results, running ever faster is just not sustainable. The need is to run smarter, and the bank DnB Nord found just a way to do that with Rational.
The backgroundWith over 3,100 employees, 169 offices, more than 900,000 customers and assets totaling EUR 11.1 billion, DnB NORD is a significant player in North-Eastern Europe. With subsidiaries and branches in Estonia, Latvia, Lithuania and Poland, it offers a comprehensive range of quality financial products and services to households as well as businesses. The bank was embarking on a strategic replacement of its core banking systems - a major program comprising sub-programs and projects across the company's three main subsidiaries. The challenges were enormous: how should it integrate project data stored in numerous documents, spreadsheets and systems. With project teams working at sites across several countries, how would it manage all these projects effectively?
The answerDnB NORD's need to manage project, portfolio, vendor and resource management seemed to be tailor made for using Rational Focal Point. Deploying this tool would help provide detailed management information for decision support across the whole core banking replacement program. Decision Focus, an IBM Business Partner, helped implement the solution.
and the benefits...By deploying the tool, not only was the bank able to run faster, it was also able to work a whole lot smarter. The major benefits are:
A smarter choiceRemember the old cartoon character running faster and faster but remaining stuck at the same place? Companies need to consciously break the pattern and run a smarter race. DnB NORD chose to run both faster AND smarter with Rational Focal Point.
About the authorValerie Hamilton is a Certified Senior IT Specialist and Level 2 Board Member for Americas IT Specialist Profession Certification. She has a Bachelors of Science degree in Computer Science (specializing in Systems Engineering) as well as 23 years of experience in the software industry.