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Asset Recovery for Major UK Bank - Case Study

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The Client

Our client was a major UK retail bank who had just had suffered an expensive and very public data security breach. As an FSA-regulated organisation with a valuable public profile, they were forced to look very closely at the risk management processes they had in place across their business. 


They recognised that their IT asset management processes were poor and their reporting was inaccurate and inconsistent. The process was also expensive as they were receiving no monetary return from their retired assets. As such they went to tender looking for a supplier who could provide secure and auditable asset management processes, while achieving a greater return on their IT investment. Restore Technology was the chosen supplier.

 

The Challenge

With 25,000 employees across 750 locations and total assets worth £202bn, we recognised that our client would need a solution that could track and verify the disposition of their assets at every stage – from collection through to large scale data destruction, and without any compromise to accuracy.  To keep costs low the ideal solution would also need to return the highest revenue possible from the assets resale. Therefore, the residual value of each asset also needed to be protected. Restore Technology’s automated control system, coupled with our value-centric approach to disposition management, was the ideal solution. 
 

The Solution

Restore Technology began by implementing a high security logistics service, which includes automated reconciliation of assets, by serial number, at every stage. This delivers a complete and reportable secure chain of custody for all assets. Asset handling is managed by our in-house technical logistics teams who are specifically trained in protecting asset value throughout the movement process.  Processing each asset via our proprietary central control systems gives our client complete visibility of the status and value of each of their assets in real time and ensuring auditable compliance.

 

What We Delivered

  • Accurate and transparent asset tracking and processing to measured SLAs 
  •  Reduction in net processing cost per asset of 55% 
  • Certified data sanitisation reporting at granular level – indemnified to £7M 
  • 60% of assets processed have been resold generating £1.4M in sales 
  • Over 80,000 assets processed - no discrepancies, no assets lost, no data breaches

 

 

Business Sector
Banking & finance


Organisation
Large UK bank


 

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