Schroders Case Study
Case Study Overview
- Schroders Private Banking embarked on a transformational IT project at the end of 2005 to centralise into one platform all of its IT and operational infrastructure using Temenos’ T24 as the core banking software. The motivation for undertaking this complex project was multifold: to reduce operational costs, enhance customer service, increase product innovation and improve risk management and compliance.
- The project was delivered on time and on budget, but the project outcomes have exceeded expectations. The complexity of the system has been reduced substantially (the number of disparate systems has been cut from 32 to 12) and the level of process automation has been increased significantly, with straight through processing achieved in a number of areas like FX and funds transfer.
- As a result of the project, the infrastructure costs per transaction have been cut substantially, which, in turn, has had a highly positive impact on the bank’s financial metrics.
- The project has enabled the bank to redirect more staff and resources to the customer-facing parts of the business. This redeployment of resources, coupled with the more flexible system architecture, has afforded an improvement in customer service, as reflected in lower costs, greater product choice and better customer reporting. Moreover, this improvement in customer service has begun to be translated into better productivity, with Schroders experiencing a marked increase in assets under management per employee.
- The project has greatly enhanced the quality and timeliness of management information, allowing management to take better-informed decisions about the business and improve the effectiveness of risk and compliance procedures.
Download the Case Study
To download this PDF case study please complete the fields below. Fields marked with an asterisk are mandatory. This information will help Temenos keep you informed on topics relevant to your areas of interest. Information you give us about yourself and your company will be treated confidentially and will only ever be used in Temenos' dealings with you and your company.