case studies
Financial services
Operations Consolidation
- Client
- UK Clearing Bank
- Sector
- Financial services
Project description
Clearing is a critical business operation, run to demanding daily schedules.
The Bank operated two clearing centres employing 2000 staff. Migration to one site had long been considered, but the pressures and skills of running a daily operation precluded the analysis and decision-making required for this critical issue.
ItemPlus led a client team through the following phases:
- feasibility - would contingency be workable with one centre?
- location - which could meet the processing and transport schedules?
- design - what systems, space, staff and management would be required?
- migration - given daily processing requirements, how could operations be moved?
- investment case - cost and benefits for multiple scenarios
- decision making - what were the risks, and which actions should be taken?
Migration to a single centre was recommended.
Outcome
The migration is complete and benefits have exceeded the business case.
