Case Study: Global Custody Strategy & Implementation

Enterprise Iron Financial Industry Solutions, Inc.
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BUSINESS PROBLEM

Our Client, a Trust Company, aimed to enhance their custody services through significant business and technical upgrades to strengthen their standing in the global marketplace.

Despite a strong foundation in Client Relationship Management and an established partnership network, our Client was perceived primarily as a “domestic provider.” They sought to shift this perception by improving their Global Custody capabilities, aiming to compete more effectively internationally.

To establish a rebranding, marketing, and communications strategy, focusing on conveying the enhanced Global Custody offering, the Client outlined the following project objectives:

1. Organizational Structure: Implementing a multi-currency product with an efficient management structure.
2. Reporting & Transparency: Establishing consistent program summary reports for senior management, ensuring clear communication of progress.
3. Project Management: Creating tools and artifacts for transparent and trackable reporting.
4. Communication Channels: Structuring program communication with regular review forums for continuous updates and feedback.
5. Comprehensive Project Planning: Identifying critical paths, dependencies, and required resources for smooth project implementation.
6. Expert Support: Supplementing the Client’s project team with experts in the Global Custody industry.

OUR SOLUTION

By partnering with the Enterprise Iron team, our Client achieved several key objectives to enhance their global custody capabilities.

We served as the Global Custody Program Office, extending the Client’s management bandwidth and overseeing the project’s comprehensive execution. This partnership allowed our Client to mitigate risks associated with deploying new applications for an established user base, aligning business and technology development efforts to ensure seamless execution.

With Enterprise Iron’s support, our Client successfully delivered the new product on schedule and within budget while meeting quality standards.

Key focus areas throughout the engagement included:

Product Integration & Rollout: We managed the global implementation of the Netik Hub and integrated a COTS platform, enhancing product functionality and reach.
New Business & Operational Workflows: The project streamlined processes related to account opening, documentation, and foreign exchange. It also addressed critical tax, legal, risk, and compliance workflows, supporting smoother operations.
e-Delivery Strategy & Portal Redesign: A strategic redesign of the Client’s e-Delivery portal improved client access and usability, enhancing the client experience.
Network & Custody Management: We oversaw sub-custodian relationships and enabled direct Euroclear clearing for eligible securities, while also expanding SWIFT capabilities to support both U.S. and international transactions.
International Integration: The team provided support for the Client’s Luxembourg banking license and enhanced.

This multifaceted solution provided the structure, oversight, and expertise required to transform the Client’s Global Custody offering, delivering measurable improvements in both operational efficiency and customer satisfaction.

RESULTS & CLIENT BENEFITS

Through Enterprise Iron’s partnership, our Client experienced success in several key areas across their operations, bringing tangible benefits to both IT and business functions.

Our Client achieved smoother communication between IT and business teams, fostering a collaborative environment that led to quicker problem-solving and better alignment on goals. This ensured that technology initiatives effectively supported business objectives.

We introduced a consistent framework for reporting, allowing stakeholders to monitor project milestones with clarity. This approach unified status updates, helping manage expectations and track progress across the organization.

By establishing clear review procedures, our Client was able to identify potential issues early and drill down for an in-depth analysis. This enabled proactive intervention, reducing delays and controlling project costs.

Consistent, standardized data-gathering processes enhanced the accuracy of project updates, empowering stakeholders with reliable, real-time information to make informed decisions and keep projects on schedule.

The success of these initiatives highlighted the strategic value of a Project Management Office (PMO), gaining broad acceptance across the company. This recognition reinforced the PMO’s role in improving project outcomes and supporting long-term goals.

We demonstrated the value of a structured project management approach that aligns technical initiatives with business priorities, laying a foundation for sustainable growth.