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Providian Trust Tradition and Technology

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Essay on Providian Trust : Tradition and Technology (A)

1.Business context / Key Business drivers: Providian Trust is one of the Top 10 leading trust companies that activate in delivering financial and fiduciary services. Providian runs its business using its 216 subsidiaries network. The main origin of their earnings resides in commercial and residential mortgages, as well as consumer and corporate loans. The CEO of the company, Stephen Walsh, is facing the conflicting situation that was created under Michael LeBlanc’s command. LeBlanc is the senior vice president of Trust, Investment and Treasury and is responsible for leading the company’s reengineering project that is meant to result in the successful implementation of Select One’s main software system-Access Plus-which is already used by Providian’s competitors. The alarming scarcity of control and discipline inside the trust division is one of the key factors that triggered the necessity of creating and implementing this project.
|2. Initiative Objectives |Initiative Benefits |
|-improve front&back offices’ way of managing the |-increase control over customers’ accounts |
|accounts | |
|-centralize trust information |- better and more efficient reporting system |
|- reduce time needed for operations in order to make |-Providian would no longer lose 2-5 millions/year used to make|
|them more efficient (customers would no longer have to|up for these delays/inaccuracy in the statements |
|wait 2-3 months to receive a statement) |- increase business profitability |

|3. Initiative challenges…...

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