Industry experience

Financial services

e-banking fulfilment

Client
Lloyds TSB plc
Sector
Financial services

Project description

A critical issue in e-banking is ‘fulfilment’ - meeting all e-bank customer needs on a 24 x 7 x 365 basis.

ItemPlus Consulting was appointed by Lloyds TSB to develop the banking procedures for its European e-banking operations centre. The procedures covered customer account servicing, cheque and electronic clearing, credit and debit card processing, financial control and overall bank reconciliation.

Working with the Banking Operations team, the objective was to reconcile accepted banking practices and the new demands of e-banking. The project produced effective and standard procedures, tailored for country-specific exceptions and capable of use by existing bank staff:

  • Completing and verifying the end-to-end process design with banking, finance, card & clearing operations, IT designers, developers, audit and testing teams
  • Achieving the best balance between automated and manual processing
  • Forcing the resolution of customer-service Vs cost issues
  • Achieving standardisation wherever possible across different currencies, clearing and settlement systems
  • Incorporating controls over a range of independent internal and external service provider
  • Ensuring total financial control and reconciliation.

In addition, ItemPlus built a management control system for the operation, providing a forecasting and tracking system for resource allocation and performance measurement.