Case Study about Bank of Overseas Chinese BOOC
Introduction: Based in Taipei, Taiwan, the Bank of Overseas Chinese (BOOC) grew to over 2,000 staff in 59 locations. Challenged by growth, IT staff found it difficult to manage disparate data and systems. Employees needed faster ways to search and securely access decentralized data. Trying to maintain more than 3000 PCs with multiple image files and faced with other difficult issues, IT was severely overloaded.
Situation: Bank of Overseas Chinese (BOOC), founded in 1961 to promote local investment by overseas Chinese, provides corporate, personal, and credit card services, financing, wealth management, and other financial services. In Taiwan’s financial industry in recent years, banks and other financial service companies like BOOC have been confronted by fierce competition in a saturated market. They have had to work hard to differentiate themselves and retain the loyalty of their existing customers while attracting those of competitors. BOOC responded to the challenge by aggressively positioning itself in the insurance and wealth management sector, joining with New York Life Insurance Company in 2005 and with Polaris Securities, a Taiwanese investment company, in 2006. In 2007, BOOC became a subsidiary of Citibank. Now, BOOC has grown to 59 offices in Taiwan and has more than 2,000 employees.
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