Case Study
published on Jan 14, 2014
Report Overview:
NelsonHall's "HCL: Managing U.K. Bank Accounts for a European Bank" case study is an example of how BPO was used to address a particular business challenge by a European bank.
Who is this Report for:
NelsonHall's "HCL: Managing U.K. Bank Accounts for a European Bank" case study is designed for:
- Sourcing managers monitoring the capabilities of existing suppliers of BPO to serve the retail banking sector and aiming to identify the benefits that can be achieved via use of BPO
- Vendor marketing, sales and business managers looking to benchmark themselves against their peers
- Financial analysts and investors specializing in the support services sector.
Scope of this Report:
NelsonHall's "HCL: Managing U.K. Bank Accounts for a European Bank" case study is an example of how BPO was used to address a particular business challenge by a European bank and includes:
- Identification of the background and business challenges faced by the bank
- Details of service transition
- Identification of pricing mechanisms and governance models used
- Identification of the benefits achieved within this contract.
Key Findings & Highlights:
HCL's client is a European bank that manages its U.K. operations separately from its domestic banking business. Its U.K. business volume comes primarily from a joint venture which manages in excess of 1 million deposits and cards customers. Most of the operations for fulfilling the U.K. deposits and cards business were already outsourced with multiple vendors; multiple vendors being used for onshore mailroom services, another vendor being used for onshore contact center services, and multiple vendors being used for back-office processing services.
These contracts were coming to an end and the European bank was seeking a supplier that could:
- Reduce costs further and move to transaction-based pricing from year one
- Make the overall service "sing and dance" on a more holistic and end-to-end basis
- Bring in technology to fine tune the process over time
- Have the ability to service new products as they are introduced in the U.K. market.