Case Study: Enterprise Cash Management Suite from Mellon Financial
Case Study: Mellon Financial: Financial Institution and Outsourcer
Mellon Financial pioneered the concept of a financial service institution outsourcing private-label cash management services to financial institutions in 1989, when it formed the Enterprise Cash Management group.To this day, Enterprise continues to differentiate itself as more than simply a technology provider, but rather as a full-service, cash management outsourcer. As a non-traditional player, Mellon serves as a good example for other financial institutions hoping to break new ground in the technology space. According to Christine Barry, Celent analyst and author of the report, As a business unit run by a financial institution, Enterprise has several advantages over traditional technology providers, including a greater awareness of the needs and wants of its fellow financial institutions. This awareness, coupled with Mellons proven track record, breadth of products, and financial stability, make the Enterprise product suite an attractive one for prospective customers. However, Enterprises financial roots pose certain challenges, such as overcoming customers concerns over shared data and privacy, as well as avoiding cannibalizing business within Mellons other business units. This case study takes a look at how a well-known financial institution has succeeded in the very competitive cash management outsourcing arena. It addition to analyzing its unique advantages and challenges, its also looks at Mellons comprehensive suite of product offerings and concludes with its future plans on how to increase its brand awareness and customer base. A Table of Contents is available online.
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Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned operating unit of Marsh & McLennan Companies [NYSE: MMC].
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|Boston, MA, USA June 27, 2002
Case Study: Mellon Financial
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