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HCL: Managing U.K. Bank Accounts for a European Bank

Case Study

by John Willmott

published on Jan 14, 2014

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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.

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