 |
|
|
|
|
|
|
SUCCESS STORY: MONEY TRANSFER
CLIENT:
|
Major Multi-National Bank |
DIVISION:
|
Global Payment Operations - Corporate Banking |
CONTACT:
|
Head, Corporate Operations Processing
Group Head, Corporate Operations |
LOCATION:
|
Asia |
SITUATION
The recently appointed Head of Global Payment Operations assessed
that the five Payment Centers in three South-Asian countries were
poorly managed, over-staffed and too costly.
- Payment transactions were processed in various locations
outside the payment centers. Risk control and customer service
needed to be considerably strengthened and improved.
- Various automated systems were either under-utilized or used
inconsistently.
- Payment Centers were organized around product lines within
major divisions and were not structured to adequately meet
customer needs or deliver products.
- Management information was neither accurate nor adequate.
LOBUE RECOMMENDATIONS
- Combine the dispersed payment operations. Each country
should have no more than one payment operations center to
maximize operational control, processing efficiencies and
economies of scale.
- Improve coordination between payment operations and
marketing.
- Establish an effective mechanism to allocate expenses and
revenues between the operations center and user departments.
- Design and implement MIS to provide useful production,
quality, cost and revenue information to all concerned managers
at each level in the organization.
- Expand the management span of control and focus on
management disciplines.
- Distribute approvals and authorities on a more appropriate
basis.
- Perform data entry by the clerk handling the transaction.
- Minimize the number of unnecessary steps in each process
including the excessive number of hand-offs, transcriptions,
reviews, approvals and reconcilements.
- Maximize the effective use of available systems and
technology.
- Devise work schedules and shifts to match staff resources
with the arrival of work and processing service standards.
- Implement the Model Payment Center. This will provide an
efficient, unencumbered, service-oriented, properly controlled
organization and process that will enable delivery of current and
future products at reasonable, manageable costs.
REAL RESULTS
By implementing the reengineered processes and the Model Payment
Centers, the Client Bank realized a direct and sustainable bottom
line profitability improvement of US $4.5 million annually. In
addition, customer service was enhanced and management decisions
were improved through new management reporting capabilities.
|
