case studies
Financial Services
Clearing Accounts Re-engineering
- Client
- Barclays Bank PLC
- Sector
- Financial Services
Project description
Clearing Accounts reconciles (between Branches and Banks) debits and credits processed through the Clearing System. It is an intricate process, tightly coupled with other processes, and has evolved over a long period.
Chaucer took responsibility for leading a Barclays team to produce a new target design. The design had to exploit new clearing systems and other related intra- and inter-Bank developments.
Initial focus on the underlying accounting structure, rather than current operating process and structure, helped to reveal the key requirements for both reconciliation and information.
A new accounting structure was then defined, with target manning levels and service standards.
Outcome
Implementation has been completed.
