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Global Payment Ops Rationalization

Client:

International Commercial Bank in Asia Pacific Region

Division:

Global Payment Operations

Contact:

Head of Corporate Operations Processing, Group Head of Corporate Operations

Major Functions:

Corporate Operations

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 Recommendation

  • Geographically Centralize the dispersed payment operations to maximize operational control and efficiencies and to minimize risk.
  • Enhance service and product awareness with improved communication between payment operations and marketing.
  • Establish an effective mechanism to allocate expenses and revenues between the operation 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 multiple functions at the same workstation, eliminating unnecessary handoffs.
  • Completely re-engineer and rationalize the processes with the aim to eliminate unncessary steps including the excessive 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 to 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. Improved customer service lead to increased transaction volumes from existing clients and the rate of new client acquisition was increased by over 50% annually.

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