A $1 billion Action Research IT project: building a "new" bank

  • Authors:
  • Peter Reynolds;Alan Thorogood;Philip Yetton

  • Affiliations:
  • University of Sydney;University of Sydney;University of Sydney

  • Venue:
  • WISICT '05 Proceedings of the 4th international symposium on Information and communication technologies
  • Year:
  • 2005

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Abstract

A large retail Bank managed IT as a cost centre for many years, while its competitors invested heavily in Customer Relationship Management (CRM) technology to improve market analytics and customer service. As part of a major transformation, the Bank decides to compete on customer service and rapidly invest in CRM capabilities to support a new customer experience and establish a competitive market position. It chooses a dynamic team from its successful online stockbroking subsidiary to lead the development effort across the Bank. This team brings new capabilities and development approaches to the broader Bank, which represents a change from the traditionally outsourced and dominant Waterfall development approaches. Academics from the Australian Graduate School of Management join the team within an Action Research framework. This paper reports the first cycle in the Action Research Program, identifying the critical importance of a shared framing of the issues.