Leeds, England â 19 February 2002 â Standard Chartered Bank (SCB), the world's leading emerging markets bank, has taken the first step to move one of its global IT processing hubs to India. The bank, with 30,000 employees, has already consolidated many disparate functions in Chennai, India. The Regional Support Centre has installed Hydra from The Program Management Group (PMG www.pm-group.co.uk) to improve its planning and execution of multiple, technical projects.
Chennai, already established as a "central processing hub" for SCB's back office functions, is home to 10 per cent of SCB's employees. This latest
development will see the migration of software staff to India with a major
skills transfer programme already in progress. To date, over 40 software
staff have started to use PMG's Hydra system to plan development programmes,
manage project workload, and monitor project progress.
Like many other major corporations, SCB manages its change initiatives via
good project management practices. With Hydra, being more than just a project management system it will allow prioritisation of projects on a return on investment basis as well as traditional resource and timescale management. Geoff Reiss co-founder and executive chairman of PMG observed, "SCB shows how a leading company can tackle the issue of integrated management of multiple projects in multiple locations. SCB joins 5 other financial organisations this year who have realised that using Hydra offers a better alternative to traditional project management tools."
Hydra allows users in multiple SCB locations to co-operate and interact with each other irrespective of time zone or geographical location. Unusually the ability for Hydra not to be solely deployable as a web based application is
a major benefit in emerging markets due to the unreliability and bandwidth
issues associated with web based deployments. SCB uses a Lotus Notes email
based system, which Hydra utilises for message and database communication
Standard Chartered - the world's leading emerging markets bank Standard Chartered is a London based, international bank focused on the emerging markets of Asia, Africa, the Middle East and Latin America. It has significant operations in Hong Kong, Singapore, Malaysia, Thailand, India, Pakistan, the United Arab Emirates and in sub-Saharan Africa. Key businesses are Consumer Banking â primarily credit cards, mortgages, personal loans and wealth management â and Wholesale Banking, where the Bank specialises in the provision of cash management, trade finance, treasury and custody services. The Group has a network of over 740 offices in more than 55 countries and assets of approximately US$90 billion. With a presence in Asia and Africa that goes back nearly 150 years, Standard Chartered has an in-depth understanding of, and a long term commitment to, the emerging markets.
The Program Management Group (PMG), based in Yorkshire's "Silicon Dale" designs, develops and markets programme management software and services.
Founded as Hydra Development Corporation in 1996, the fast-growing company
spent over four years developing and refining its revolutionary programme
management product - Hydra, and has in less than 3 years established an
international customer base of 32 global organisations, with over 5,000
PMG's Hydra product is a complete programme management suite, offering
resource-centric, multi-project, multi-site planning capabilities. Its
patent, intelligent pre-emptive resource scheduling allows organisations to
successfully plan and implement multiple simultaneous projects without the
limitations of discrete task-centric project management tools.