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Chase.com's Quest for a Global Web Presence - Overview

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Introduction

Chase.com's Quest for a Global Web Presence Overview Chase.com and Chase Manhattan together are an international powerhouse in commercial banking. The bank has been continually growing since the merger in 1955 between The Chase National Bank and The Bank of Manhattan Company; another merger with the Chemical Banking Company of New York in 1996 made Chase the largest bank holding company in the US. It was the takeover of J.P Morgan in 2000, which lead to Chase becoming the powerhouse of international banking. Reasons for development Two of the major problems that Chase Manhattan faced were due to changes in the general business environment. * Globalisation is fast becoming a reality and therefore Chase's domestic customers were now competing with rivals all over the world. Chase in turn had to be able to offer these customers top-quality service wherever they were doing business. * Advances in telecommunications, including the growth of the Internet, forced Chase (as well as all other major banks) to use telecommunications to compete globally. Chase Manhattan had no choice but to expand and set up Chase.com due to the changing global economy. The internet has fast become used in every business all over the world and in order for Chase to keep in touch with it's customers and to keep ahead of its competitors it has to optimise business and links to noncore services. ...read more.

Middle

Enabling growth and competitiveness - an ASP is likely to increase the chances of growth and improved competitiveness of the bank's service, as the work is focused and carried out with expertise by a firm whose primary function is in this domain. Make life convenient - an ASP will not only be able to offer a single point of contact, but also flexibility and the opportunity of upgrades for the system that they design. Full integration support would be on hand with an ASP as well as quality of work guaranteed, as the firm will have experience. Security - Using an ASP with a good reputation and whose work is known throughout the business world, will minimise the chances of security breaches. The fact that Chase, was very specific about the type of company it wanted to work with, ensured that the bank was able to minimise the risks of security problems. However, potential areas of difficulty could be: Industrial Espionage - although this at first appears to be a highly unlikely, it does occur in businesses. Out sourcing non-core services- this enables Chase to improve its service whilst still focusing on its primary core services. The ASP would take control of the system improvements allowing Chase.com to function as normal. ...read more.

Conclusion

Continual operational costs will pay for staffing help desks, however, at all times efficiency will be maximised. System changes will be based on transactions or the number of "hits" received by the website and also by the number of queries received by the help desk, this will enable a consumer orientated effective service. A fully integrated system such as this proposal will require a flexible organisation to allow the most efficient running. Decentralization is very important due to the multinational nature of the Chase.com websites. Chase.com personnel must be prepared to work closely with the personnel of the ASP. Conclusion How successful will the process of implementing a system be to the requirements established by Chase to their ASP? Chase is demanding that the website enables it to have a competitive edge. The system solution is proposing to maintain a fully updated system which will be built on an established technological position, this will provide Chase with a world-class website to help them maintain their respected name in banking and provide them with a competitive edge over others. The solution will make Chase's business completely Internet enabled by providing account information, portals for banking and portfolio and currency management. With the option of updating the system when required to keep Chase ahead of competitors the ASP's suggested solution has all the characteristics of a successful partnership with Chase and its requirements. ...read more.

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