Standard Chartered Bank

1. Synopsis:

   A leading international bank based in Singapore gains a complete enterprise content management solution, resolves customer inquiries and streamlines its business processes when it implements a suite of IBM FileNet software and IBM Content Manager OnDemand for AIX software to improve business flexibility

2. Location:

   Singapore, Singapore

3. Industry:

   Banking

4. URL:

   http://www.standardchartered.com

Client Background:

Based in Singapore, Standard Chartered Bank is a leading international bank listed on the London, Hong Kong and Mumbai stock exchanges. The bank has about 1,700 branches and earns more than 90 percent of its income and profits in Asia, Africa and the Middle East. Standard Chartered employs more than 80,000 people.

Business Need:

Standard Chartered Bank needed to implement an enterprise content management (ECM), workflow/business process management (BPM) and records management system for its numerous projects. ECM would address issues such as fragmented document and content repositories, inconsistent content access, security policy and multiple disparate content management systems, whereas BPM would improve process deficiencies, turnaround times and customer service.

Other pain points in the operations at Standard Chartered Bank included:

• Misalignment of information movement between the data processing and supporting document flow, causing delay
• Lack of effective links between transactions/cases and the referential information, causing defects
• Suboptimal placement of operation resources causing extra paper flows
• Yet-to-be-integrated front-end and back-end systems
• Lack of team focus for cross business unit process improvement and project coordination.

Solution:

To meet its business challenges, Standard Chartered Bank adopted an ECM and BPM platform that consists of the following solutions:

• IBM FileNet Business Process Manager V4.0 software
• IBM FileNet Content Manager V4.0 software
• IBM FileNet eForms V4.0 software
• IBM FileNet Email Manager V4.0 software
• IBM FileNet P8 Platform V4.0 software.

Currently, the FileNet software infrastructure supports the bank’s 20 applications in more than 40 countries. With a user base in excess of 22,000, the software has become a key enabler to deliver business benefits. Additionally, IBM Content Manager OnDemand for AIX software was used for generating demand-based bank statements. 

Benefits of the Solution:

With the IBM Information Management solution, Standard Chartered Bank gained numerous benefits. The company saves more than USD1 million annually through decreased storage of physical paper and associated transport costs as well as an additional annual savings of USD250,000 in storage and courier fees. Standard Chartered Bank has a target cost reduction and processing improvement of more than 50 percent.

The IBM solution accomplishes the following:

• Automates manually intensive processes such as document retrieval, decreasing errors and rework
• Improves turnaround time by eliminating duplicates and reducing storage needs through automation and electronic storage
• Reduces full-time equivalents (FTE) through automation and error reduction
• Lowers operational risk
• Efficiently manages content, improving key processes and delivering efficiencies
• Improves customer service
• Provides timely, accurate information to the right people to improve decision making
• Increases competitive advantage
• Manages retention and destruction of important documents aligned to regulatory and business needs.

The solution also delivered the following environmental benefits:

• Reduces operational impacts on the environment
• Improves processes and shifts from physical paper to an electronic system with the integration of FileNet software.