A large global bank was struggling to manage the expectations and requirements of stakeholders involved in a largescale programme. Brickendon was called upon to ensure that everyone involved was confident that the organisation’s money was being spent wisely, that the programme was meeting the organisation’s strategic goals and that the deliverables were clearly articulated, were […]
By Richard Warren Recent history is littered with expensive failures. Whether it’s the UK National Health Service’s abandoned patient record system that cost the British taxpayer an estimated £10 billion, the scrapping of the US Airforce’s Expeditionary Combat Support System at a cost of $1 billion or the failure of RBS to launch Williams & […]
A large global banking client was seeking to transform the way that data was used within its Investment Bank. The aim was to manage the data more efficiently, consistently and transparently in order to reduce storage and infrastructure costs. The Challenges Lack of standardisation: inconsistent naming convention across the bank Multiple stakeholders: the bank had […]
By Aysha Wahid and Rizwan Hasan. Location strategy is one of the few change programmes within the financial services sector that touches every part of the organisation. This inclusion of all parts of the business, from legal, compliance and human resources through to the more obvious business lines and supporting services, helps avoid the all-too-common […]
Under the Dodd Frank Act, UK swap dealing entities are required to report annually to the Commodities Futures Trading Commission (CFTC) in the US. The process to support this reporting involves a vast and detailed attestation process, whereby control owners are held accountable for their part in regulatory compliance, providing information on the processes they are […]
An international tier-one bank was implementing a Trade Data Repository (TDR) and required advice, management and expertise across a variety of problem spaces. A large team had been assembled to work on various aspects across the platform and Brickendon was asked to provide expertise to develop solutions across the entire range of activities. The original […]
In this final part of our series of articles on change, we look at technology-related factors that contribute to the failure of change initiatives. We will specifically focus on the less obvious perspectives, from hidden complication, through to loss of control and how consumers generally determine how, or indeed whether, to embrace technology-led change. Firstly […]
Failure to acknowledge the importance of technology in today’s financial services sector will leave some large incumbent banks fighting for survival, a top banker has said. Speaking to an audience at Chatham House late last year, former Barclays head Anthony Jenkins said the financial services sector was reaching its ‘Uber’ moment. He said this would […]
XML (Extensible Markup Language) is widely used as the lingua franca for information exchange in banks and financial institutions but its importance is often overlooked. Failure to adopt XML and its related tools could cost banks large amounts of money and time. “XML is a language that enables banks to communicate with each other and […]
This is the second in a series of three articles published in our Brickendon Journals. The articles explore some of the underlying patterns associated with change failure by looking at the problem from three distinct perspectives – people, process and technology. For the first article click https://btcwebdev.wpengine.com/?post_type=article&p=5484 The third will appear in the first journal of […]