Key highlights
£125k saved due to operational efficiencies
130% increase in payment processing capacity
Extension of payment window from 12x5 to 18x5
Overview
Client name: CHC
Region: United Kingdom
Industry: BFSI
Client since: 2011
Challenges
The client sought a strategic IT service partner to facilitate their new initiatives and support the modernization of their payment infrastructure.
Solution
1.
Payment initiation and automated processing of outbound and inbound payments (faster payments, CHAPS, cross-border payment via SWIFT/SEPA, and standing orders).
2.
PSD2 compliance and ISO20022 migration.
3.
Automated process to display the cost of currency conversion rate, margins, service charge, correspondent charges, and disclosure of visa markup (cards) in the online banking platform, ensuring an increase in transparency of customer data.
Impact
1.
£125k PA (=2.5 FTE PA) saved due to operational efficiencies through payment automation
2.
130% increase in payment processing capacity
3.
Extension of payment window from 12x5 to 18x5