Case Studies

Product development Center (PdC) for GE Money Bank

GE Money Background

GE Money is one of the leading global providers of financial services. GE Money employs over 56,000 people around the world and serves over 118 million customers.

In 2004, GE Money entered the Russian consumer finance market through the acquisition of ZAO DeltaBank. GE Money Russia offers consumer finance products and services to clients through branches and points of sale located in large retail chain stores.

Business Challenge

GE Money continued success in Russia is dependent on its ability to successfully execute a multitude of complex IT projects while dealing with existing headcount and talent pool constraints.

• GE Money has a wide range of IT reorganization, integration, and development projects related to the post merger integration of DeltaBank, new product development, and operations support.
• Despite substantial IT budget, GE Money has limited ability to grow its headcount.
• Majority of IT projects cannot be outsourced to third party vendors due to the sensitive nature of these projects, degree of integration with the Bank’s infrastructure and security reasons.
• GE Money’s in-house recruiting capabilities have not been sufficient to fully support the company’s hiring needs and talent requirements.

Solution Provided by Mirantis

1. Working closely with GE Money’s IT and business management, Mirantis has developed a thorough understanding of business and IT needs, constraints and measurements of success.
2. Mirantis has proposed to build a dedicated onsite outstaffed team for the client to strengthen IT organization’s execution capabilities and address security concerns while keeping headcount under control.
3. Mirantis has built the outstaffed program for GE Money. The program consists of three main components:
1. Recruiting to needs
2. Outstaffing including legal and administrative set up
3. Program management

1. To further strengthen the client’s ability to cope with short term project requirements and lower its operating expenses, Mirantis has proposed to create a low cost outstaffed offsite Technology Development Center for GE Money.
2. Mirantis has built the Technology Development Center for GE Money in Saratov, a region with abundant supply of high quality IT resources at a lower cost.
3. As Mirantis has already been operating captive Technology Development Centers for Western clients in Saratov, it has utilized its existing facilities and staffing capabilities for GE Money thus further reducing the client’s operating expenses.

The outstaffed programs provide GE Money with a buyout option both for the whole team and any individual specialist.

Results

1. Acceleration of project delivery schedule with no increase in headcount.
2. Quality improvement and better execution due to the right type of talent recruited by Mirantis.
3. Cost savings (fully loaded personnel costs) due to the utilization of low cost offsite Technology Development Center.
4. Complete control over security and confidential information.
5. More efficient workforce management, ability to quickly scale the workforce both up and down.
6. Low attrition rate