Industry experience
Financial services
Payment Process and Reconciliation
- Client
- Sun Life Assurance
- Sector
- Financial services
Project description
A new payments system had been introduced 12 months previously. The payments team was not meeting its service levels for turning round payments and was not keeping the required controls.
ItemPlus led the payments team in:
- documenting the existing payment and control process
- identifying payment process improvements
- identifying control and reconciliation
- improvements identifying long term opportunities.
Numerous opportunities were identified covering process, systems, personnel and training.
Recommendations were presented in a report to the sponsor.
